Pallas Capital Advisors LLC Purchases 786 Shares of Workday, Inc. (NASDAQ:WDAY)

Pallas Capital Advisors LLC grew its position in shares of Workday, Inc. (NASDAQ:WDAY) by 20.8% in the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 4,560 shares of the software maker’s stock after acquiring an additional 786 shares during the quarter. Pallas Capital Advisors LLC’s holdings in Workday were worth $1,080,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Wealth Enhancement Advisory Services LLC grew its position in Workday by 14.7% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 4,444 shares of the software maker’s stock valued at $1,212,000 after purchasing an additional 569 shares in the last quarter. Hennion & Walsh Asset Management Inc. acquired a new position in shares of Workday during the 1st quarter worth about $202,000. Wasatch Advisors LP grew its holdings in shares of Workday by 6.6% in the 1st quarter. Wasatch Advisors LP now owns 6,316 shares of the software maker’s stock valued at $1,723,000 after acquiring an additional 391 shares in the last quarter. First Trust Direct Indexing L.P. increased its position in shares of Workday by 15.5% in the first quarter. First Trust Direct Indexing L.P. now owns 2,506 shares of the software maker’s stock valued at $684,000 after acquiring an additional 336 shares during the last quarter. Finally, AMI Asset Management Corp raised its holdings in Workday by 54.1% during the first quarter. AMI Asset Management Corp now owns 162,093 shares of the software maker’s stock worth $44,211,000 after acquiring an additional 56,926 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Trading Up 1.6 %

Shares of Workday stock opened at $238.63 on Wednesday. The firm’s 50-day moving average price is $247.26 and its two-hundred day moving average price is $236.41. The company has a market capitalization of $63.24 billion, a price-to-earnings ratio of 43.00, a PEG ratio of 4.72 and a beta of 1.35. 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 12-month low of $199.81 and a 12-month high of $311.28.

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

Wall Street Analyst Weigh In

Several research analysts have weighed in on the company. Loop Capital boosted their price target on Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Barclays increased their price target on shares of Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company upped their target price on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Canaccord Genuity Group reiterated a “buy” rating and set a $300.00 price target on shares of Workday in a report on Friday, September 13th. Finally, Bank of America boosted their price target on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $287.04.

Insider Activity

In related news, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction on Monday, August 26th. The stock was 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 $51,106,379.76. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction that occurred on 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 transaction, the insider now directly owns 196,344 shares in the company, valued at $51,106,379.76. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 370,575 shares of company stock worth $91,506,897. Insiders own 20.00% of the company’s stock.

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.