LPL Financial LLC Boosts Stake in Workday, Inc. (NASDAQ:WDAY)

LPL Financial LLC increased its stake in Workday, Inc. (NASDAQ:WDAY) by 26.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 169,293 shares of the software maker’s stock after acquiring an additional 35,211 shares during the period. LPL Financial LLC owned about 0.06% of Workday worth $43,526,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WDAY. Janus Henderson Group PLC lifted its stake in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares during the last quarter. State Street Corp boosted its stake in Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after buying an additional 67,380 shares in the last quarter. Geode Capital Management LLC grew its position in Workday by 2.7% during the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after acquiring an additional 76,618 shares during the last quarter. Parnassus Investments LLC raised its stake in shares of Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after acquiring an additional 2,078,097 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Workday by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after acquiring an additional 75,747 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the topic of several recent research reports. UBS Group increased their target price on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Canaccord Genuity Group lifted their price objective on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Mizuho increased their target price on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Thursday, February 6th. Finally, Piper Sandler increased their price objective on Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $300.36.

Workday Trading Down 2.5 %

NASDAQ:WDAY opened at $238.49 on Friday. The firm has a market capitalization of $63.44 billion, a P/E ratio of 39.55, a PEG ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The company’s 50-day simple moving average is $256.67 and its 200 day simple moving average is $254.83.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. As a group, analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In other news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, December 30th. The stock was sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the completion of the transaction, the insider now owns 172,000 shares of the company’s stock, valued at approximately $45,021,000. The trade was a 24.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 487,145 shares of company stock worth $123,289,438 over the last three months. 20.00% of the stock is currently owned by corporate insiders.

Workday 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.