Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Assetmark Inc.

Assetmark Inc. increased its position in Workday, Inc. (NASDAQ:WDAY) by 0.3% in the 3rd quarter, according to its most recent filing with the SEC. The fund owned 32,468 shares of the software maker’s stock after purchasing an additional 109 shares during the period. Assetmark Inc.’s holdings in Workday were worth $7,936,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in WDAY. Vanguard Group Inc. grew its holdings in shares of Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after buying an additional 324,540 shares during the last quarter. Clearbridge Investments LLC increased its stake in Workday by 12.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after buying an additional 281,207 shares during the period. The Manufacturers Life Insurance Company lifted its stake in shares of Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after acquiring an additional 1,016,394 shares during the period. Legal & General Group Plc raised its holdings in Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares in the last quarter. Finally, Meritage Group LP lifted its position in Workday by 27.5% in the first quarter. Meritage Group LP now owns 1,277,359 shares of the software maker’s stock valued at $348,400,000 after purchasing an additional 275,883 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of research reports. Needham & Company LLC lowered their price target on Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a report on Wednesday, September 18th. Evercore ISI decreased their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Piper Sandler reissued an “overweight” rating and issued a $285.00 price objective on shares of Workday in a research report on Wednesday, September 18th. Citigroup decreased their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Finally, Morgan Stanley cut their price target on Workday from $325.00 to $315.00 and set an “overweight” rating for the company 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. Based on data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus price target of $287.04.

Workday Stock Performance

Workday stock opened at $264.15 on Tuesday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. 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 $70.00 billion, a P/E ratio of 46.02, a price-to-earnings-growth ratio of 5.09 and a beta of 1.35. The stock has a 50 day moving average of $245.75 and a 200-day moving average of $235.79.

Workday (NASDAQ:WDAY) last issued its earnings results 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 analyst estimates of $2.07 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. On average, analysts expect that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Insider Activity

In related news, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction dated 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 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 transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total value 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. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is currently owned by 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.