Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Palumbo Wealth Management LLC

Palumbo Wealth Management LLC increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 12.1% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,115 shares of the software maker’s stock after purchasing an additional 120 shares during the period. Palumbo Wealth Management LLC’s holdings in Workday were worth $273,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the stock. First Trust Direct Indexing L.P. boosted its position in shares of Workday by 36.7% during the 3rd quarter. First Trust Direct Indexing L.P. now owns 3,667 shares of the software maker’s stock worth $896,000 after purchasing an additional 984 shares during the period. Diversify Advisory Services LLC boosted its position in shares of Workday by 33.9% during the 3rd quarter. Diversify Advisory Services LLC now owns 9,550 shares of the software maker’s stock worth $2,357,000 after purchasing an additional 2,420 shares during the period. Integrated Advisors Network LLC boosted its position in shares of Workday by 48.2% during the 3rd quarter. Integrated Advisors Network LLC now owns 1,787 shares of the software maker’s stock worth $437,000 after purchasing an additional 581 shares during the period. Fortitude Family Office LLC boosted its position in shares of Workday by 713.6% during the 3rd quarter. Fortitude Family Office LLC now owns 179 shares of the software maker’s stock worth $44,000 after purchasing an additional 157 shares during the period. Finally, abrdn plc boosted its position in Workday by 16.3% in the 3rd quarter. abrdn plc now owns 279,856 shares of the software maker’s stock valued at $68,400,000 after buying an additional 39,289 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other 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 shares were 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 owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. In other news, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total value of $14,112,630.00. Following the completion of the transaction, the insider now owns 505,000 shares of the company’s stock, valued at $125,032,950. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the company’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 transaction of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock valued at $91,506,897 over the last quarter. Corporate insiders own 20.00% of the company’s stock.

Workday Price Performance

WDAY stock traded down $1.91 during trading on Thursday, reaching $236.37. 94,974 shares of the company were exchanged, compared to its average volume of 2,108,067. The company has a market cap of $62.64 billion, a P/E ratio of 42.93, a PEG ratio of 4.72 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’s 50 day moving average price is $247.36 and its 200 day moving average price is $236.42. 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 quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The firm’s revenue was up 16.5% on a year-over-year basis. As a group, analysts predict that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have commented on WDAY shares. BMO Capital Markets reissued an “outperform” rating and issued a $300.00 price target on shares of Workday in a research report on Wednesday, September 18th. Morgan Stanley decreased their price target on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. DA Davidson raised their price target on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Wells Fargo & Company lifted their price objective on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Evercore ISI decreased their price objective on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. One research 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. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $287.04.

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.