Van ECK Associates Corp Raises Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Van ECK Associates Corp boosted its stake in Workday, Inc. (NASDAQ:WDAY) by 17,345.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 930,701 shares of the software maker’s stock after purchasing an additional 925,366 shares during the quarter. Van ECK Associates Corp’s holdings in Workday were worth $208,068,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. Crewe Advisors LLC bought a new stake in Workday in the 1st quarter worth approximately $27,000. Sound Income Strategies LLC boosted its stake in shares of Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. PSI Advisors LLC purchased a new position in Workday in the 2nd quarter worth $38,000. Massmutual Trust Co. FSB ADV raised its position in Workday by 167.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 182 shares of the software maker’s stock worth $41,000 after purchasing an additional 114 shares during the period. Finally, Gilliland Jeter Wealth Management LLC bought a new stake in Workday in the second quarter worth $41,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

Several research analysts have recently commented on the company. Piper Sandler lifted their price objective on Workday from $262.00 to $285.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Loop Capital increased their price objective on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Barclays upped their price target on shares of Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. BMO Capital Markets dropped their price target on shares of Workday from $338.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Finally, Canaccord Genuity Group boosted their price objective on shares of Workday from $270.00 to $300.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $288.15.

Workday Stock Up 0.3 %

NASDAQ:WDAY traded up $0.83 during mid-day trading on Friday, hitting $263.19. 1,707,434 shares of the company’s stock were exchanged, compared to its average volume of 2,724,915. The company has a market cap of $69.75 billion, a PE ratio of 47.42, a P/E/G ratio of 5.66 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.00. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The business has a fifty day moving average price of $228.70 and a 200 day moving average price of $246.67.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results 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 return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the firm posted $0.40 EPS. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities analysts predict that Workday, Inc. will post 2.27 EPS for the current year.

Insiders Place Their Bets

In related news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated 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 directly owns 196,344 shares of the company’s stock, valued at approximately $51,106,379.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the sale, the insider now owns 786,000 shares of the company’s stock, valued at approximately $164,407,620. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction that occurred 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 transaction, the insider now directly owns 196,344 shares of the company’s stock, valued at $51,106,379.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 532,172 shares of company stock valued at $118,034,332. 20.00% of the stock is currently owned by corporate insiders.

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.