Workday, Inc. (NASDAQ:WDAY) Shares Bought by Malaga Cove Capital LLC

Malaga Cove Capital LLC raised its stake in Workday, Inc. (NASDAQ:WDAY) by 10.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,721 shares of the software maker’s stock after buying an additional 338 shares during the quarter. Malaga Cove Capital LLC’s holdings in Workday were worth $832,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Crewe Advisors LLC acquired a new stake in shares of Workday during the 1st quarter worth approximately $27,000. Sound Income Strategies LLC increased its position in shares of Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after acquiring an additional 49 shares during the last quarter. SouthState Corp raised its stake in shares of Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the period. Asset Dedication LLC acquired a new position in shares of Workday in the 2nd quarter worth approximately $36,000. Finally, PSI Advisors LLC purchased a new position in shares of Workday during the 2nd quarter worth approximately $38,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on WDAY shares. TD Cowen dropped their price objective on Workday from $330.00 to $290.00 and set a “buy” rating for the company in a research note on Friday, May 24th. JMP Securities restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Friday, May 24th. Robert W. Baird reduced their target price on shares of Workday from $316.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Royal Bank of Canada dropped their price target on shares of Workday from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Finally, JPMorgan Chase & Co. reduced their price objective on Workday from $300.00 to $285.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. One research 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. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $288.15.

Insider Transactions at Workday

In other Workday news, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $226.67, for a total value of $710,383.78. Following the transaction, the insider now directly owns 92,014 shares of the company’s stock, valued at approximately $20,856,813.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Workday news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction that occurred on Monday, July 8th. The stock was sold at an average price of $226.67, for a total value of $710,383.78. Following the sale, the insider now owns 92,014 shares of the company’s stock, valued at approximately $20,856,813.38. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $209.17, for a total value of $11,922,690.00. Following the transaction, the insider now directly owns 786,000 shares of the company’s stock, valued at $164,407,620. The disclosure for this sale can be found here. Insiders sold 523,402 shares of company stock worth $119,914,724 over the last 90 days. 20.00% of the stock is currently owned by insiders.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $253.52 on Tuesday. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The stock has a market capitalization of $67.18 billion, a price-to-earnings ratio of 45.68, a PEG ratio of 5.47 and a beta of 1.35. The company has a 50-day simple moving average of $233.14 and a 200-day simple moving average of $244.36. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the business earned $0.40 EPS. The firm’s revenue was up 16.5% compared to the same quarter last year. On average, analysts predict that Workday, Inc. will post 2.27 EPS for the current 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.