True Wealth Design LLC Raises Position in Workday, Inc. (NASDAQ:WDAY)

True Wealth Design LLC raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 4,766.7% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 146 shares of the software maker’s stock after buying an additional 143 shares during the quarter. True Wealth Design LLC’s holdings in Workday were worth $36,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also added to or reduced their stakes in WDAY. The Manufacturers Life Insurance Company grew its holdings in shares of Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after purchasing an additional 14,159 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in Workday by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after buying an additional 75,747 shares in the last quarter. Legal & General Group Plc increased its holdings in shares of 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 buying an additional 118,180 shares during the last quarter. Bank of New York Mellon Corp raised its position in shares of Workday by 15.2% during 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 buying an additional 153,577 shares in the last quarter. Finally, Van ECK Associates Corp lifted its holdings 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 during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on 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 sale, the insider now directly owns 281,000 shares of the company’s stock, valued at $68,004,810. The trade was a 16.62 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the completion of the sale, the director now owns 90,000 shares in the company, valued at $22,990,500. The trade was a 7.69 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock valued at $88,742,132 in the last three months. 20.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of research reports. Piper Sandler restated a “neutral” rating and set a $270.00 price target (down previously from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Scotiabank began coverage on Workday in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. DA Davidson upped their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Canaccord Genuity Group restated a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Friday, September 13th. Finally, Bank of America cut their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $288.14.

Workday Stock Performance

Shares of WDAY opened at $249.99 on Monday. The company has a 50-day simple moving average of $248.77 and a two-hundred day simple moving average of $237.30. 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 firm has a market capitalization of $66.25 billion, a PE ratio of 41.46, a price-to-earnings-growth ratio of 4.96 and a beta of 1.35. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.21% and a net margin of 19.86%. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. On average, analysts anticipate that Workday, Inc. will post 2.4 EPS 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.