Summit Global Investments decreased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 53.4% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 4,610 shares of the software maker's stock after selling 5,290 shares during the quarter. Summit Global Investments' holdings in Workday were worth $1,127,000 as of its most recent SEC filing.
A number of other institutional investors have also recently bought and sold shares of the company. Portside Wealth Group LLC raised its holdings in Workday by 55.6% in the third quarter. Portside Wealth Group LLC now owns 16,515 shares of the software maker's stock worth $4,036,000 after purchasing an additional 5,904 shares during the period. Keudell Morrison Wealth Management bought a new position in Workday during the third quarter worth about $241,000. Kornitzer Capital Management Inc. KS grew its stake in Workday by 4.5% in the third quarter. Kornitzer Capital Management Inc. KS now owns 39,703 shares of the software maker's stock valued at $9,704,000 after acquiring an additional 1,693 shares during the period. Principal Financial Group Inc. increased its holdings in shares of Workday by 45.0% in the third quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker's stock worth $4,349,000 after acquiring an additional 5,519 shares in the last quarter. Finally, Woodmont Investment Counsel LLC raised its position in shares of Workday by 1.6% during the third quarter. Woodmont Investment Counsel LLC now owns 8,306 shares of the software maker's stock worth $2,030,000 after purchasing an additional 127 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.
In related news, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now directly owns 8,674 shares of the company's stock, valued at approximately $2,097,806.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Wayne A.I. Frederick sold 1,828 shares of the company's stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the transaction, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total transaction of $738,934.52. Following the completion of the sale, the insider now owns 85,795 shares of the company's stock, valued at $20,228,745.10. This trade represents a 0.00 % decrease in their position. 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. Company insiders own 20.00% of the company's stock.
WDAY stock opened at $256.54 on Friday. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The stock has a market cap of $67.98 billion, a price-to-earnings ratio of 44.69, a price-to-earnings-growth ratio of 5.00 and a beta of 1.35. The company has a fifty day moving average price of $245.75 and a two-hundred day moving average price of $236.07. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04.
Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping the consensus estimate of $1.65 by $0.10. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. Workday's revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.40 EPS. Equities analysts anticipate that Workday, Inc. will post 2.4 EPS for the current year.
Several equities analysts recently issued reports on WDAY shares. Bank of America boosted their price objective on Workday from $265.00 to $310.00 and gave the company a "buy" rating in a research report on Friday, August 23rd. DA Davidson upped their price target on shares of Workday from $255.00 to $270.00 and gave the company a "neutral" rating in a report on Friday, August 23rd. BMO Capital Markets restated an "outperform" rating and set a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. Stifel Nicolaus upped their target price on shares of Workday from $250.00 to $270.00 and gave the stock a "hold" rating in a research note on Friday, August 23rd. Finally, JMP Securities reissued a "market outperform" rating and issued a $315.00 price target on shares of Workday in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Workday currently has a consensus rating of "Moderate Buy" and an average target price of $287.04.
View Our Latest Stock Analysis on 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.
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