Ithaka Group LLC Has $9.69 Million Position in Workday, Inc. (WDAY)
Ithaka Group LLC boosted its holdings in Workday, Inc. (NYSE:WDAY) by 1.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 99,844 shares of the software maker’s stock after acquiring an additional 1,570 shares during the quarter. Workday accounts for about 1.8% of Ithaka Group LLC’s investment portfolio, making the stock its 24th biggest position. Ithaka Group LLC’s holdings in Workday were worth $9,685,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also bought and sold shares of the company. Winfield Associates Inc. grew its stake in Workday by 136.4% during the second quarter. Winfield Associates Inc. now owns 1,040 shares of the software maker’s stock worth $101,000 after buying an additional 600 shares during the last quarter. Chicago Equity Partners LLC bought a new stake in Workday during the first quarter worth about $212,000. Sumitomo Mitsui Asset Management Company LTD grew its stake in Workday by 47.0% during the second quarter. Sumitomo Mitsui Asset Management Company LTD now owns 573,715 shares of the software maker’s stock worth $55,650,000 after buying an additional 183,444 shares during the last quarter. First Trust Advisors LP grew its stake in Workday by 338.4% during the second quarter. First Trust Advisors LP now owns 64,106 shares of the software maker’s stock worth $6,218,000 after buying an additional 49,483 shares during the last quarter. Finally, Prudential Financial Inc. grew its stake in Workday by 18.2% during the first quarter. Prudential Financial Inc. now owns 4,030 shares of the software maker’s stock worth $336,000 after buying an additional 620 shares during the last quarter. 67.08% of the stock is currently owned by institutional investors and hedge funds.
Several brokerages have weighed in on WDAY. Oppenheimer Holdings, Inc. reaffirmed a “buy” rating and set a $117.00 price objective on shares of Workday in a research note on Monday. Credit Suisse Group reiterated a “neutral” rating and set a $100.00 target price (up from $94.00) on shares of Workday in a research report on Tuesday, September 5th. BMO Capital Markets reiterated a “market perform” rating and set a $117.00 target price (up from $110.00) on shares of Workday in a research report on Friday, September 1st. Robert W. Baird reiterated a “buy” rating and set a $114.00 target price on shares of Workday in a research report on Friday, September 1st. Finally, Cowen and Company reiterated a “market perform” rating and set a $100.00 target price (up from $93.00) on shares of Workday in a research report on Thursday, August 31st. Four investment analysts have rated the stock with a sell rating, twenty-one have assigned a hold rating, fifteen have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average price target of $98.79.
In other news, CEO Aneel Bhusri sold 11,091 shares of the company’s stock in a transaction on Monday, July 17th. The shares were sold at an average price of $102.70, for a total value of $1,139,045.70. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, SVP James P. Shaughnessy sold 8,760 shares of the company’s stock in a transaction on Monday, July 17th. The stock was sold at an average price of $103.62, for a total transaction of $907,711.20. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 1,310,752 shares of company stock worth $134,888,238. Corporate insiders own 37.71% of the company’s stock.
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Workday, Inc. (NYSE WDAY) traded up 0.34% on Tuesday, reaching $106.92. 492,195 shares of the company were exchanged. The stock’s market capitalization is $22.24 billion. The company’s 50-day moving average price is $104.25 and its 200-day moving average price is $95.70. Workday, Inc. has a 12-month low of $65.79 and a 12-month high of $111.45.
Workday (NYSE:WDAY) last released its quarterly earnings data on Wednesday, August 30th. The software maker reported $0.24 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.15 by $0.09. Workday had a negative net margin of 19.78% and a negative return on equity of 24.07%. The firm had revenue of $525.30 million for the quarter, compared to the consensus estimate of $507.44 million. During the same quarter in the prior year, the company posted ($0.04) earnings per share. The business’s revenue was up 40.6% on a year-over-year basis. Equities research analysts anticipate that Workday, Inc. will post $0.82 earnings per share for the current fiscal year.
Workday, Inc is a provider of enterprise cloud applications for finance and human resources. The Company delivers financial management, human capital management and analytics applications designed for various companies, educational institutions and government agencies. As part of its applications, the Company provides embedded analytics that capture the content and context of everyday business events, facilitating informed decision-making from wherever users are working.
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