Ascent Group LLC Purchases 202 Shares of Workday, Inc. (NASDAQ:WDAY)

Ascent Group LLC increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 6.4% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,370 shares of the software maker’s stock after purchasing an additional 202 shares during the period. Ascent Group LLC’s holdings in Workday were worth $824,000 at the end of the most recent quarter.

Several other hedge funds also recently added to or reduced their stakes in the company. Benjamin Edwards Inc. purchased a new position in shares of Workday during the third quarter valued at approximately $345,000. Point72 Hong Kong Ltd boosted its holdings in Workday by 20.6% during the 3rd quarter. Point72 Hong Kong Ltd now owns 3,997 shares of the software maker’s stock valued at $977,000 after acquiring an additional 683 shares during the period. Erste Asset Management GmbH bought a new position in Workday in the 3rd quarter valued at $8,092,000. True Wealth Design LLC increased its stake in Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares during the period. Finally, Wasatch Advisors LP lifted its position in shares of Workday by 69.4% during the third quarter. Wasatch Advisors LP now owns 11,687 shares of the software maker’s stock worth $2,856,000 after purchasing an additional 4,787 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research note on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research note on Friday, September 13th. Wells Fargo & Company increased their price objective on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. KeyCorp lifted their target price on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft increased their price target on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $288.14.

Insider Buying and Selling at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction on Thursday, September 5th. The shares were sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the sale, the director now owns 90,000 shares in the company, valued at approximately $22,990,500. This trade represents a 7.69 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the completion of the transaction, the insider now owns 505,000 shares of the company’s stock, valued at approximately $125,032,950. This trade represents a 10.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 298,960 shares of company stock worth $72,753,210. Insiders own 20.00% of the company’s stock.

Workday Trading Up 2.2 %

Workday stock opened at $257.06 on Wednesday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The stock has a 50-day moving average price of $249.10 and a 200 day moving average price of $237.25. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $68.12 billion, a price-to-earnings ratio of 42.63, a price-to-earnings-growth ratio of 4.66 and a beta of 1.34.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.21%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm earned $0.47 EPS. The business’s revenue for the quarter was up 15.8% on a year-over-year basis. Sell-side analysts anticipate that Workday, Inc. will post 2.57 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.