Atlanta Consulting Group Advisors LLC Takes $383,000 Position in Workday, Inc. (NASDAQ:WDAY)

Atlanta Consulting Group Advisors LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 3rd quarter, Holdings Channel.com reports. The fund bought 1,567 shares of the software maker’s stock, valued at approximately $383,000.

Several other large investors also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company lifted its position in shares of Workday by 79.1% during the 2nd 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 last quarter. Legal & General Group Plc lifted its holdings in Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after buying an additional 118,180 shares during the last quarter. Meritage Group LP boosted its position in shares of Workday by 27.5% during the 1st quarter. Meritage Group LP now owns 1,277,359 shares of the software maker’s stock worth $348,400,000 after acquiring an additional 275,883 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in shares of Workday by 15.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,167,131 shares of the software maker’s stock valued at $260,924,000 after acquiring an additional 153,577 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in shares of Workday by 0.4% during the 3rd quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock worth $226,266,000 after acquiring an additional 4,127 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In other news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the transaction, the director now owns 97,500 shares of the company’s stock, valued at $25,381,200. The trade was a 7.14 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.29, for a total transaction of $812,365.09. Following the completion of the sale, the insider now directly owns 196,344 shares in the company, valued at approximately $51,106,379.76. The trade was a 1.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is owned by insiders.

Workday Stock Performance

NASDAQ:WDAY opened at $259.41 on Monday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm’s fifty day simple moving average is $246.74 and its 200-day simple moving average is $236.48. The stock has a market cap of $68.74 billion, a PE ratio of 45.19, a price-to-earnings-growth ratio of 5.15 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued 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 company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same period last year, the company posted $0.40 earnings per share. Analysts expect that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WDAY shares. BMO Capital Markets reiterated an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th. Stifel Nicolaus lifted their price target on shares of Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Needham & Company LLC reduced their price target on shares of Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft raised their price objective on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Finally, Wells Fargo & Company boosted their target price on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. One research 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 company. According to MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus price target of $287.59.

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.