Douglas Lane & Associates LLC Boosts Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Douglas Lane & Associates LLC increased its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 42.2% in the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 238,288 shares of the software maker's stock after buying an additional 70,755 shares during the quarter. Douglas Lane & Associates LLC owned about 0.09% of Workday worth $61,485,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the business. Capital Performance Advisors LLP bought a new stake in shares of Workday in the third quarter worth $26,000. Meeder Asset Management Inc. boosted its position in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock worth $35,000 after purchasing an additional 43 shares during the last quarter. True Wealth Design LLC grew its stake in shares of Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker's stock valued at $36,000 after purchasing an additional 143 shares during the period. New Millennium Group LLC increased its position in shares of Workday by 177.4% during the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker's stock valued at $36,000 after purchasing an additional 94 shares during the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Workday during the 2nd quarter valued at about $35,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insider Activity

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the firm's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the transaction, the director now owns 8,674 shares of the company's stock, valued at $2,097,806.90. This trade represents a 17.41 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the sale, the insider now directly owns 284,000 shares of the company's stock, valued at $78,188,040. This represents a 16.72 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 370,085 shares of company stock valued at $95,380,557. 20.00% of the stock is currently owned by insiders.

Workday Price Performance

Shares of NASDAQ:WDAY traded up $5.01 on Wednesday, reaching $254.69. The company's stock had a trading volume of 2,242,319 shares, compared to its average volume of 1,971,758. The company has a 50-day simple moving average of $261.60 and a 200 day simple moving average of $245.37. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market cap of $67.75 billion, a P/E ratio of 42.24, a PEG ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm's revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the business posted $0.47 earnings per share. As a group, equities research analysts anticipate that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WDAY. Morgan Stanley boosted their target price on shares of Workday from $315.00 to $330.00 and gave the company an "overweight" rating in a research report on Wednesday, November 27th. Oppenheimer reiterated an "outperform" rating and set a $300.00 price target on shares of Workday in a research note on Tuesday, December 3rd. Canaccord Genuity Group restated a "buy" rating and issued a $300.00 price objective on shares of Workday in a research note on Friday, September 13th. JMP Securities reiterated a "market outperform" rating and set a $315.00 target price on shares of Workday in a research report on Thursday, September 19th. Finally, Piper Sandler restated a "neutral" rating and issued a $270.00 price target (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $292.25.

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.