QRG Capital Management Inc. Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

QRG Capital Management Inc. boosted its position in Workday, Inc. (NASDAQ:WDAY) by 14.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 7,170 shares of the software maker’s stock after purchasing an additional 905 shares during the quarter. QRG Capital Management Inc.’s holdings in Workday were worth $1,752,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Crewe Advisors LLC purchased a new stake in Workday in the 1st quarter worth approximately $27,000. SouthState Corp raised its position in shares of Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after buying an additional 129 shares in the last quarter. Goodman Advisory Group LLC purchased a new stake in shares of Workday during the 2nd quarter valued at $35,000. Asset Dedication LLC purchased a new stake in shares of Workday during the 2nd quarter valued at $36,000. Finally, PSI Advisors LLC purchased a new stake in shares of Workday during the 2nd quarter valued at $38,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently weighed in on the stock. Wells Fargo & Company raised their price objective on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 target price on shares of Workday in a report on Friday, September 13th. KeyCorp increased their target price on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Citigroup reduced their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. Finally, Loop Capital increased their target price on shares of Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $287.04.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of the company’s 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 sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder David A. Duffield sold 66,492 shares of the company’s 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 sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now owns 505,000 shares in the company, valued at $125,032,950. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is currently owned by corporate insiders.

Workday Trading Up 2.5 %

Shares of WDAY stock opened at $257.98 on Friday. The company’s 50-day moving average price is $245.97 and its 200-day moving average price is $235.90. 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 market cap of $68.36 billion, a price-to-earnings ratio of 45.00, a PEG ratio of 4.79 and a beta of 1.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The company had revenue of $2.09 billion for 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%. Workday’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.40 earnings per share. As a group, equities analysts predict that Workday, Inc. will post 2.4 earnings per share for the current year.

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.