Venture Visionary Partners LLC Invests $2.01 Million in Workday, Inc. $WDAY

Venture Visionary Partners LLC purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 8,348 shares of the software maker’s stock, valued at approximately $2,010,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Workday by 2.5% in the second quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock worth $5,067,404,000 after buying an additional 515,529 shares in the last quarter. State Street Corp grew its stake in shares of Workday by 3.3% during the 2nd quarter. State Street Corp now owns 9,600,516 shares of the software maker’s stock valued at $2,304,124,000 after acquiring an additional 303,713 shares during the period. Geode Capital Management LLC increased its holdings in Workday by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock worth $1,183,112,000 after acquiring an additional 140,042 shares in the last quarter. T. Rowe Price Investment Management Inc. raised its stake in Workday by 47.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock worth $879,147,000 after acquiring an additional 1,211,659 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its holdings in Workday by 0.4% during the first quarter. The Manufacturers Life Insurance Company now owns 3,736,609 shares of the software maker’s stock valued at $872,610,000 after purchasing an additional 14,354 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $216.11 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $56.84 billion, a price-to-earnings ratio of 90.80, a PEG ratio of 2.44 and a beta of 1.15. The stock has a 50-day moving average of $228.21 and a 200 day moving average of $232.26. Workday, Inc. has a twelve month low of $205.33 and a twelve month high of $283.68.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.15. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.89 EPS. Sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Cantor Fitzgerald reissued an “overweight” rating on shares of Workday in a research note on Wednesday, November 26th. Evercore ISI upped their price objective on Workday from $275.00 to $300.00 and gave the stock an “outperform” rating in a research note on Wednesday, September 17th. Morgan Stanley lifted their target price on Workday from $255.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 26th. Zacks Research cut Workday from a “strong-buy” rating to a “hold” rating in a report on Thursday, October 30th. Finally, UBS Group set a $260.00 target price on shares of Workday in a research report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $282.22.

Insiders Place Their Bets

In other Workday news, CAO Mark S. Garfield sold 1,915 shares of Workday stock in a transaction dated Thursday, October 9th. The stock was sold at an average price of $238.96, for a total transaction of $457,608.40. Following the completion of the sale, the chief accounting officer directly owned 37,351 shares of the company’s stock, valued at $8,925,394.96. The trade was a 4.88% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 82,025 shares of the stock in a transaction dated Tuesday, December 2nd. The shares were sold at an average price of $212.19, for a total value of $17,404,884.75. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at approximately $22,290,347.31. The trade was a 43.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 251,074 shares of company stock worth $57,717,721. 20.00% of the stock is currently owned by 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.