Pacer Advisors Inc. Buys 31,826 Shares of Workday, Inc. (NASDAQ:WDAY)

Pacer Advisors Inc. grew its position in Workday, Inc. (NASDAQ:WDAY) by 230.4% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 45,640 shares of the software maker’s stock after buying an additional 31,826 shares during the period. Pacer Advisors Inc.’s holdings in Workday were worth $11,776,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new stake in Workday in the third quarter worth about $26,000. Meeder Asset Management Inc. boosted its stake in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the last quarter. True Wealth Design LLC grew its position in shares of Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after buying an additional 143 shares during the period. New Millennium Group LLC grew its position in shares of Workday by 177.4% during the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after buying an additional 94 shares during the period. Finally, Vestor Capital LLC bought a new stake in shares of Workday during the third quarter worth approximately $44,000. Institutional investors own 89.81% of the company’s stock.

Workday Trading Up 2.4 %

Shares of Workday stock opened at $270.43 on Wednesday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The business’s 50 day moving average is $261.01 and its 200-day moving average is $248.19. The stock has a market cap of $71.93 billion, a P/E ratio of 44.85, a P/E/G ratio of 4.58 and a beta of 1.34.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the firm posted $0.47 earnings per share. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. Equities research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the transaction, the director now directly owns 6,845 shares in the company, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Sayan Chakraborty sold 5,498 shares of the stock in a transaction on 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 completion of the sale, the insider now owns 121,100 shares in the company, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WDAY. Piper Sandler reaffirmed a “neutral” rating and issued a $270.00 price objective (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and lifted their price objective for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Bank of America cut their target price on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Oppenheimer reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Workday in a research note on Tuesday, December 3rd. Finally, Barclays dropped their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.25.

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.