Cannon Global Investment Management LLC Has $782,000 Position in Workday, Inc. (NASDAQ:WDAY)

Cannon Global Investment Management LLC decreased its stake in Workday, Inc. (NASDAQ:WDAY) by 28.6% during the 2nd quarter, HoldingsChannel reports. The institutional investor owned 3,500 shares of the software maker’s stock after selling 1,400 shares during the period. Workday comprises 3.6% of Cannon Global Investment Management LLC’s holdings, making the stock its 7th largest position. Cannon Global Investment Management LLC’s holdings in Workday were worth $782,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. VisionPoint Advisory Group LLC raised its stake in Workday by 27.6% during the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after buying an additional 34 shares during the period. Carolinas Wealth Consulting LLC raised its position in shares of Workday by 9.7% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after purchasing an additional 34 shares during the period. Congress Wealth Management LLC DE lifted its holdings in shares of Workday by 2.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock valued at $458,000 after purchasing an additional 39 shares in the last quarter. Raleigh Capital Management Inc. grew its position in shares of Workday by 4.7% in the 4th quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock valued at $240,000 after purchasing an additional 39 shares during the period. Finally, Hudson Value Partners LLC increased its stake in Workday by 0.8% during the 4th quarter. Hudson Value Partners LLC now owns 5,135 shares of the software maker’s stock worth $1,418,000 after purchasing an additional 40 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have recently weighed in on the stock. Canaccord Genuity Group upped their price target on shares of Workday from $270.00 to $300.00 and gave the company a “buy” rating in a report on Friday, August 23rd. 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. Jefferies Financial Group dropped their price target on Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Piper Sandler upped their price objective on Workday from $262.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Royal Bank of Canada dropped their target price on Workday from $310.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $288.15.

Workday Stock Performance

Shares of WDAY stock traded down $1.54 during trading on Wednesday, reaching $258.78. 272,011 shares of the company’s stock were exchanged, compared to its average volume of 2,206,918. The stock has a market capitalization of $68.58 billion, a PE ratio of 46.90, a PEG ratio of 5.66 and a beta of 1.35. The firm’s fifty day moving average price is $230.45 and its 200-day moving average price is $245.68. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business earned $0.40 EPS. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.27 EPS for the current year.

Insiders Place Their Bets

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the transaction, the insider now owns 196,344 shares in the company, valued at $51,106,379.76. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.29, for a total transaction of $812,365.09. Following the sale, the insider now owns 196,344 shares of the company’s stock, valued at $51,106,379.76. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the completion of the transaction, the director now owns 97,500 shares of the company’s stock, valued at $25,381,200. The disclosure for this sale can be found here. Insiders sold 449,410 shares of company stock worth $100,631,138 in the last quarter. 20.00% of the stock is currently owned by corporate insiders.

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.