Everence Capital Management Inc. Makes New $1.44 Million Investment in Workday, Inc. (NASDAQ:WDAY)

Everence Capital Management Inc. purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 5,590 shares of the software maker’s stock, valued at approximately $1,442,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Workday during the 3rd quarter valued at $26,000. SouthState Corp increased its holdings in Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares in the last quarter. Goodman Advisory Group LLC purchased a new position in Workday in the 2nd quarter worth about $35,000. Meeder Asset Management Inc. lifted its stake in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. Finally, Asset Dedication LLC purchased a new stake in shares of Workday during the 2nd quarter valued at about $36,000. Institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In other news, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the sale, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. The trade was a 4.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 70,003 shares of the stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. The trade was a 40.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 361,463 shares of company stock valued at $92,193,408 in the last quarter. 20.00% of the stock is currently owned by insiders.

Workday Stock Performance

WDAY opened at $252.84 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market capitalization of $67.26 billion, a price-to-earnings ratio of 41.93, a PEG ratio of 5.04 and a beta of 1.34. The company has a fifty day moving average of $260.69 and a 200 day moving average of $244.08. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 earnings per share. As a group, sell-side analysts forecast that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on WDAY shares. JMP Securities reissued a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. Needham & Company LLC reissued a “buy” rating and set a $300.00 price target on shares of Workday in a report on Monday, November 25th. Morgan Stanley lifted their price objective on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. The Goldman Sachs Group increased their target price on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Finally, Barclays cut their price target on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $291.36.

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.