Y Intercept Hong Kong Ltd Invests $6.02 Million in Workday, Inc. (NASDAQ:WDAY)

Y Intercept Hong Kong Ltd acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 24,632 shares of the software maker's stock, valued at approximately $6,020,000.

Several other large investors have also recently added to or reduced their stakes in the company. Zurich Insurance Group Ltd FI bought a new stake in Workday during the third quarter worth about $78,003,000. National Bank of Canada FI grew its stake in Workday by 122.5% during the third quarter. National Bank of Canada FI now owns 53,844 shares of the software maker's stock worth $13,160,000 after buying an additional 29,644 shares during the last quarter. iA Global Asset Management Inc. grew its stake in Workday by 89.5% during the third quarter. iA Global Asset Management Inc. now owns 66,365 shares of the software maker's stock worth $16,220,000 after buying an additional 31,351 shares during the last quarter. EP Wealth Advisors LLC grew its stake in Workday by 51.5% during the third quarter. EP Wealth Advisors LLC now owns 3,714 shares of the software maker's stock worth $908,000 after buying an additional 1,262 shares during the last quarter. Finally, Insigneo Advisory Services LLC lifted its position in shares of Workday by 9.1% during the third quarter. Insigneo Advisory Services LLC now owns 2,818 shares of the software maker's stock worth $689,000 after purchasing an additional 234 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have recently issued reports on WDAY shares. Barclays reduced their target price on shares of Workday from $314.00 to $305.00 and set an "overweight" rating on the stock in a research report on Wednesday, November 27th. Morgan Stanley upped their target price on shares of Workday from $315.00 to $330.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. KeyCorp upped their target price on shares of Workday from $275.00 to $305.00 and gave the stock an "overweight" rating in a research report on Friday, August 23rd. Piper Sandler reiterated a "neutral" rating and set a $270.00 target price (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Finally, StockNews.com lowered shares of Workday from a "buy" rating to a "hold" rating in a research report on Wednesday, December 4th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the company's stock. Based on data from MarketBeat.com, Workday has an average rating of "Moderate Buy" and a consensus price target of $289.21.

Insider Transactions at Workday

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the firm's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value 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 trade represents a 17.41 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the firm's stock in a transaction on Monday, September 23rd. The shares were sold at an average price of $245.36, for a total transaction of $13,740,160.00. Following the completion of the transaction, the insider now directly owns 449,000 shares of the company's stock, valued at approximately $110,166,640. This trade represents a 11.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 361,463 shares of company stock valued at $88,422,088 over the last quarter. Corporate insiders own 20.00% of the company's stock.

Workday Stock Up 5.1 %

Shares of WDAY stock traded up $13.49 during trading hours on Monday, hitting $279.91. 11,579,544 shares of the company were exchanged, compared to its average volume of 2,215,389. The business has a 50 day moving average of $251.13 and a two-hundred day moving average of $237.53. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a market capitalization of $74.18 billion, a PE ratio of 46.42, a PEG ratio of 4.91 and a beta of 1.34.

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

About Workday

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.