Dynamic Technology Lab Private Ltd Makes New Investment in Workday, Inc. (NASDAQ:WDAY)

Dynamic Technology Lab Private Ltd purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the 3rd quarter, HoldingsChannel.com reports. The institutional investor purchased 13,221 shares of the software maker’s stock, valued at approximately $3,231,000.

Other hedge funds have also recently modified their holdings of the company. Shell Asset Management Co. acquired a new stake in Workday during the first quarter worth $323,000. Canada Pension Plan Investment Board increased its position in shares of Workday by 171.0% during the 1st quarter. Canada Pension Plan Investment Board now owns 73,268 shares of the software maker’s stock worth $19,984,000 after purchasing an additional 46,231 shares during the last quarter. BOKF NA increased its position in shares of Workday by 946.2% during the 1st quarter. BOKF NA now owns 2,448 shares of the software maker’s stock worth $667,000 after purchasing an additional 2,214 shares during the last quarter. Ascent Group LLC raised its holdings in Workday by 3.1% in the 1st quarter. Ascent Group LLC now owns 3,367 shares of the software maker’s stock valued at $918,000 after buying an additional 101 shares during the period. Finally, Caxton Associates LP acquired a new position in Workday in the first quarter valued at about $1,364,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WDAY shares. Scotiabank began coverage on shares of Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target on the stock. Stifel Nicolaus boosted their target price on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Bank of America raised their price target on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $285.00 price objective on shares of Workday in a report on Wednesday, September 18th. Finally, Loop Capital raised their target price on Workday from $255.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $289.46.

Workday Price Performance

Shares of NASDAQ WDAY opened at $267.75 on Monday. The stock’s 50-day simple moving average is $247.71 and its 200-day simple moving average is $236.89. The firm has a market capitalization of $70.95 billion, a PE ratio of 46.65, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

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

Insider Activity

In other Workday news, 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 value of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total transaction of $738,934.52. Following the transaction, the insider now owns 85,795 shares in the company, valued at approximately $20,228,745.10. This trade represents a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 359,954 shares of company stock worth $88,742,132. Corporate insiders own 20.00% of the company’s stock.

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.