Cornerstone Capital Inc. Purchases 11,330 Shares of Workday, Inc. (NASDAQ:WDAY)

Cornerstone Capital Inc. lifted its position in Workday, Inc. (NASDAQ:WDAY) by 12.0% in the third quarter, Holdings Channel.com reports. The firm owned 105,662 shares of the software maker’s stock after purchasing an additional 11,330 shares during the quarter. Workday makes up 2.4% of Cornerstone Capital Inc.’s holdings, making the stock its 14th biggest holding. Cornerstone Capital Inc.’s holdings in Workday were worth $25,825,000 at the end of the most recent reporting period.

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

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the transaction, the insider now directly owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction that occurred 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 transaction, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the sale, the insider now directly owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock valued at $91,506,897 in the last ninety days. 20.00% of the stock is currently owned by company insiders.

Workday Stock Performance

NASDAQ WDAY traded down $0.63 during trading hours on Tuesday, hitting $240.51. The company’s stock had a trading volume of 89,561 shares, compared to its average volume of 2,099,157. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company’s 50 day simple moving average is $246.61 and its two-hundred day simple moving average is $235.86. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The company has a market cap of $63.74 billion, a P/E ratio of 42.01, a price-to-earnings-growth ratio of 4.75 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the company earned $0.40 earnings per share. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, sell-side analysts expect that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. Wells Fargo & Company increased their price target on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $285.00 price objective on shares of Workday in a report on Wednesday, September 18th. Stifel Nicolaus raised their price target on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. The Goldman Sachs Group raised their target price on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Finally, Canaccord Genuity Group reiterated a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $287.04.

Workday Company 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.