Oppenheimer Asset Management Inc. Grows Position in Workday, Inc. (NASDAQ:WDAY)

Oppenheimer Asset Management Inc. boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 15.1% during the second quarter, HoldingsChannel.com reports. The firm owned 67,145 shares of the software maker’s stock after acquiring an additional 8,814 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Workday were worth $15,011,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in WDAY. Allen Investment Management LLC boosted its position in Workday by 5.5% during the 2nd quarter. Allen Investment Management LLC now owns 162,869 shares of the software maker’s stock worth $36,411,000 after purchasing an additional 8,428 shares during the period. William Blair Investment Management LLC boosted its position in shares of Workday by 17.6% in the second quarter. William Blair Investment Management LLC now owns 38,149 shares of the software maker’s stock worth $8,529,000 after buying an additional 5,707 shares during the period. Leelyn Smith LLC grew its stake in shares of Workday by 1.5% in the second quarter. Leelyn Smith LLC now owns 4,494 shares of the software maker’s stock valued at $1,005,000 after buying an additional 66 shares in the last quarter. HBK Sorce Advisory LLC raised its holdings in shares of Workday by 78.5% during the 2nd quarter. HBK Sorce Advisory LLC now owns 1,437 shares of the software maker’s stock valued at $321,000 after buying an additional 632 shares during the period. Finally, Pinkerton Retirement Specialists LLC lifted its position in Workday by 5.3% during the 2nd quarter. Pinkerton Retirement Specialists LLC now owns 9,082 shares of the software maker’s stock worth $2,030,000 after acquiring an additional 459 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

Shares of Workday stock opened at $250.05 on Friday. The stock’s fifty day simple moving average is $235.24 and its 200 day simple moving average is $243.38. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $66.26 billion, a PE ratio of 45.05, a PEG ratio of 5.40 and a beta of 1.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating 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 analyst estimates of $2.07 billion. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The business’s revenue was up 16.5% on a year-over-year basis. On average, research analysts predict that Workday, Inc. will post 2.27 EPS for the current year.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of recent analyst reports. Loop Capital raised their price target on shares of Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. UBS Group lowered their price target on Workday from $280.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Morgan Stanley dropped their price objective on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Piper Sandler raised their target price on Workday from $262.00 to $285.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, KeyCorp boosted their price objective on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $288.15.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Friday, June 21st. The shares were sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the completion of the transaction, the insider now owns 730,000 shares in the company, valued at $159,563,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the completion of the transaction, the insider now directly owns 730,000 shares of the company’s stock, valued at $159,563,400. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the transaction, the director now directly owns 90,000 shares in the company, valued at approximately $22,990,500. The disclosure for this sale can be found here. In the last quarter, insiders have sold 466,402 shares of company stock valued at $107,992,034. 20.00% of the stock is owned by 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.