GSA Capital Partners LLP Acquires 1,804 Shares of Workday, Inc. (NASDAQ:WDAY)

GSA Capital Partners LLP lifted its stake in Workday, Inc. (NASDAQ:WDAY) by 129.6% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 3,196 shares of the software maker’s stock after purchasing an additional 1,804 shares during the period. GSA Capital Partners LLP’s holdings in Workday were worth $781,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in WDAY. Catalytic Wealth RIA LLC purchased a new stake in Workday in the 3rd quarter valued at about $217,000. Ashton Thomas Securities LLC boosted its holdings in shares of Workday by 6.5% in the third quarter. Ashton Thomas Securities LLC now owns 1,448 shares of the software maker’s stock valued at $354,000 after purchasing an additional 88 shares during the period. Los Angeles Capital Management LLC grew its stake in Workday by 12.8% in the third quarter. Los Angeles Capital Management LLC now owns 30,483 shares of the software maker’s stock worth $7,450,000 after purchasing an additional 3,470 shares in the last quarter. Legacy Capital Wealth Partners LLC purchased a new position in Workday during the 3rd quarter worth $369,000. Finally, Sigma Planning Corp bought a new stake in Workday during the 3rd quarter valued at $233,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Loop Capital increased their price target on Workday from $255.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday. JMP Securities reiterated a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Thursday, September 19th. Morgan Stanley reduced their price target on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and set a $285.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Finally, Citigroup reduced their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. 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 stock. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $287.59.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was 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 39.23 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the sale, the director now directly owns 97,500 shares in the company, valued at $25,381,200. The trade was a 7.14 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 370,575 shares of company stock worth $91,506,897. Insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $259.41 on Friday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. 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 firm has a market cap of $68.74 billion, a P/E ratio of 45.19, a P/E/G ratio of 5.39 and a beta of 1.35. The business’s 50 day moving average price is $246.74 and its 200 day moving average price is $236.60.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates 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 net margin of 19.59% and a return on equity of 5.34%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, sell-side analysts expect that Workday, Inc. will post 2.4 earnings per share 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.