Caprock Group LLC Has $744,000 Stake in Workday, Inc. (NASDAQ:WDAY)

Caprock Group LLC lifted its stake in Workday, Inc. (NASDAQ:WDAY) by 14.5% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 3,046 shares of the software maker’s stock after purchasing an additional 386 shares during the period. Caprock Group LLC’s holdings in Workday were worth $744,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of WDAY. Bessemer Group Inc. raised its holdings in Workday by 13.4% during the 1st quarter. Bessemer Group Inc. now owns 2,396 shares of the software maker’s stock worth $654,000 after purchasing an additional 283 shares during the last quarter. Shell Asset Management Co. acquired a new stake in shares of Workday during the 1st quarter worth approximately $323,000. Canada Pension Plan Investment Board raised its stake in shares of Workday by 171.0% during the first quarter. Canada Pension Plan Investment Board now owns 73,268 shares of the software maker’s stock worth $19,984,000 after buying an additional 46,231 shares during the last quarter. Lazard Asset Management LLC lifted its holdings in Workday by 1.5% in the first quarter. Lazard Asset Management LLC now owns 65,005 shares of the software maker’s stock valued at $17,730,000 after buying an additional 983 shares during the period. Finally, BOKF NA boosted its stake in Workday by 946.2% in the first quarter. BOKF NA now owns 2,448 shares of the software maker’s stock valued at $667,000 after acquiring an additional 2,214 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the company’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 value of $1,952,400.00. Following the sale, the director now owns 97,500 shares in the company, valued at $25,381,200. This represents a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 66,492 shares of Workday 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 transaction, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This represents a 39.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 370,575 shares of company stock worth $91,506,897 over the last quarter. 20.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of analyst reports. Morgan Stanley cut their price target on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Canaccord Genuity Group restated a “buy” rating and set a $300.00 target price on shares of Workday in a report on Friday, September 13th. Deutsche Bank Aktiengesellschaft upped their price target on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. KeyCorp lifted their price objective on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Evercore ISI lowered their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average price target of $289.46.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $267.75 on Friday. The stock has a market capitalization of $70.95 billion, a PE ratio of 46.65, a price-to-earnings-growth ratio of 5.16 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The stock has a 50 day moving average price of $247.71 and a 200 day moving average price of $237.07. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. The business had revenue of $2.09 billion during 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%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same period last year, the business earned $0.40 earnings per share. Analysts predict that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Workday Company 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.