Malaga Cove Capital LLC Decreases Stake in Workday, Inc. (NASDAQ:WDAY)

Malaga Cove Capital LLC lessened its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 2.2% in the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 3,639 shares of the software maker’s stock after selling 82 shares during the quarter. Malaga Cove Capital LLC’s holdings in Workday were worth $889,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the company. Crewe Advisors LLC bought a new stake in Workday during the 1st quarter valued at $27,000. SouthState Corp increased its position in shares of Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the period. Goodman Advisory Group LLC purchased a new stake in shares of Workday during the second quarter worth about $35,000. Asset Dedication LLC bought a new stake in shares of Workday in the second quarter worth about $36,000. Finally, PSI Advisors LLC purchased a new position in Workday during the 2nd quarter valued at about $38,000. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, major shareholder David A. Duffield sold 66,492 shares of the firm’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 completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction 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 transaction, the insider now owns 505,000 shares of the company’s stock, valued at approximately $125,032,950. The trade was 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 worth $91,506,897 over the last quarter. Insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on WDAY. Barclays increased their price objective on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, September 18th. Bank of America increased their price target on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Wells Fargo & Company raised their price objective on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Loop Capital upped their target price on shares of Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

Workday Stock Up 4.4 %

Shares of NASDAQ:WDAY opened at $251.80 on Thursday. The company has a market cap of $66.73 billion, a price-to-earnings ratio of 43.87, a PEG ratio of 4.79 and a beta of 1.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. 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 50-day moving average price of $245.97 and a 200 day moving average price of $235.90.

Workday (NASDAQ:WDAY) last announced its 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 during the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the previous year, the business earned $0.40 EPS. The company’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, equities research analysts predict that Workday, Inc. will post 2.4 earnings per share for the current year.

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.