Loomis Sayles & Co. L P Has $532.55 Million Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Loomis Sayles & Co. L P lowered its position in shares of Workday, Inc. (NASDAQ:WDAY) by 3.2% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,178,935 shares of the software maker’s stock after selling 72,594 shares during the quarter. Loomis Sayles & Co. L P owned about 0.82% of Workday worth $532,554,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the business. Capital Performance Advisors LLP acquired a new stake in Workday in the 3rd quarter worth about $26,000. SouthState Corp increased its stake in Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after acquiring an additional 129 shares during the period. Crewe Advisors LLC raised its holdings in Workday by 56.6% in the 2nd quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock valued at $35,000 after acquiring an additional 56 shares in the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Workday during the 2nd quarter valued at $35,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

WDAY stock opened at $267.75 on Monday. The firm has a market cap of $70.95 billion, a PE ratio of 46.65, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a 50-day moving average price of $247.71 and a 200-day moving average price of $236.89. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

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

Wall Street Analysts Forecast Growth

A number of research firms recently commented on WDAY. BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th. Piper Sandler reiterated an “overweight” rating and set a $285.00 price target on shares of Workday in a research report on Wednesday, September 18th. Wells Fargo & Company lifted their price objective on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley reduced their target price on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Finally, Bank of America lifted their price target on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $289.46.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This trade represents a 39.23 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the sale, the insider now owns 85,795 shares of the company’s stock, valued at $20,228,745.10. This trade represents a 3.52 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 359,954 shares of company stock valued at $88,742,132 over the last ninety days. 20.00% of the stock is owned by corporate insiders.

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.