Summit Global Investments Has $1.13 Million Holdings in Workday, Inc. (NASDAQ:WDAY)

Summit Global Investments lowered its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 53.4% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,610 shares of the software maker's stock after selling 5,290 shares during the quarter. Summit Global Investments' holdings in Workday were worth $1,127,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Vanguard Group Inc. lifted its stake in Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker's stock valued at $4,029,244,000 after purchasing an additional 324,540 shares during the last quarter. Sustainable Growth Advisers LP lifted its position in shares of Workday by 9.7% during the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker's stock valued at $927,998,000 after acquiring an additional 301,463 shares during the last quarter. Clearbridge Investments LLC boosted its stake in shares of Workday by 12.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker's stock worth $693,382,000 after acquiring an additional 281,207 shares in the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker's stock worth $514,637,000 after purchasing an additional 1,016,394 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker's stock valued at $384,518,000 after purchasing an additional 118,180 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Activity at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the sale, the director now directly owns 97,500 shares of the company's stock, valued at $25,381,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the business's stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the sale, the director now owns 97,500 shares of the company's stock, valued at $25,381,200. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction on Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the transaction, the director now owns 8,674 shares of the company's stock, valued at approximately $2,097,806.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 370,575 shares of company stock worth $91,506,897 in the last 90 days. 20.00% of the stock is owned by company insiders.

Workday Stock Performance

WDAY stock traded down $1.44 during midday trading on Friday, hitting $256.54. 1,729,654 shares of the company traded hands, compared to its average volume of 1,440,019. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The stock has a market capitalization of $67.98 billion, a price-to-earnings ratio of 44.69, a price-to-earnings-growth ratio of 5.09 and a beta of 1.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The business has a 50 day simple moving average of $245.75 and a 200-day simple moving average of $235.93.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. Workday's revenue was up 16.5% compared to the same quarter last year. During the same period last year, the business posted $0.40 EPS. As a group, equities research analysts predict that Workday, Inc. will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research firms have issued reports on WDAY. Bank of America boosted their price objective on Workday from $265.00 to $310.00 and gave the stock a "buy" rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Workday from $265.00 to $275.00 and gave the stock a "hold" rating in a research note on Friday, August 23rd. Citigroup reduced their target price on Workday from $274.00 to $270.00 and set a "neutral" rating for the company in a report on Wednesday, September 25th. DA Davidson lifted their price target on Workday from $255.00 to $270.00 and gave the company a "neutral" rating in a report on Friday, August 23rd. Finally, Needham & Company LLC reduced their price objective on Workday from $350.00 to $300.00 and set a "buy" rating for the company in a research note on Wednesday, September 18th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, Workday currently has a consensus rating of "Moderate Buy" and a consensus target price of $287.04.

Workday Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.