Leelyn Smith LLC Increases Stake in Workday, Inc. (NASDAQ:WDAY)

Leelyn Smith LLC raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 1.3% in the third quarter, Holdings Channel.com reports. The institutional investor owned 4,552 shares of the software maker’s stock after purchasing an additional 58 shares during the quarter. Leelyn Smith LLC’s holdings in Workday were worth $1,113,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the business. The Manufacturers Life Insurance Company boosted its position in Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after acquiring an additional 1,016,394 shares during the last quarter. Legal & General Group Plc lifted its stake in Workday by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of Workday by 15.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,167,131 shares of the software maker’s stock worth $260,924,000 after purchasing an additional 153,577 shares during the last quarter. Van ECK Associates Corp grew its position in shares of Workday by 0.4% in the third quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock valued at $226,266,000 after purchasing an additional 4,127 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. increased its holdings in shares of Workday by 3.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 835,203 shares of the software maker’s stock valued at $204,132,000 after purchasing an additional 24,195 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on WDAY shares. KeyCorp upped their target price on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Morgan Stanley dropped their price objective on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Needham & Company LLC lowered their price objective on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft lifted their target price on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Finally, DA Davidson increased their price target on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company. Based on data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $289.46.

Insider Buying and Selling at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the transaction, the director now directly owns 8,674 shares in the company, valued at $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the business’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 sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 370,575 shares of company stock worth $91,506,897 over the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Down 0.1 %

Shares of Workday stock opened at $267.75 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a market capitalization of $70.95 billion, a P/E ratio of 46.65, a P/E/G ratio of 5.32 and a beta of 1.35. The company has a 50 day moving average of $247.71 and a 200 day moving average of $237.07.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. As a group, research analysts forecast that Workday, Inc. will post 2.4 EPS for the current fiscal 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.