Workday, Inc. $WDAY Stock Position Decreased by MGO One Seven LLC

MGO One Seven LLC lowered its holdings in Workday, Inc. (NASDAQ:WDAY) by 91.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,324 shares of the software maker’s stock after selling 13,356 shares during the period. MGO One Seven LLC’s holdings in Workday were worth $252,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WDAY. Avestar Capital LLC raised its stake in shares of Workday by 69.7% in the third quarter. Avestar Capital LLC now owns 4,545 shares of the software maker’s stock valued at $866,000 after acquiring an additional 1,867 shares in the last quarter. VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new position in Workday during the 3rd quarter worth $4,857,000. China Universal Asset Management Co. Ltd. increased its holdings in Workday by 9.1% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 6,605 shares of the software maker’s stock worth $1,249,000 after purchasing an additional 553 shares during the period. TOWER TRUST & INVESTMENT Co purchased a new stake in Workday during the 3rd quarter worth about $144,000. Finally, Motley Fool Asset Management LLC increased its holdings in Workday by 178.0% during the 3rd quarter. Motley Fool Asset Management LLC now owns 21,125 shares of the software maker’s stock worth $4,023,000 after purchasing an additional 13,527 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WDAY. Rothschild & Co Redburn increased their price target on Workday from $210.00 to $250.00 and gave the company a “neutral” rating in a research report on Monday, August 17th. Sanford C. Bernstein boosted their price objective on Workday from $216.00 to $238.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Needham & Company LLC restated a “buy” rating and set a $230.00 target price (up from $180.00) on shares of Workday in a research note on Monday, October 5th. JPMorgan Chase & Co. raised their target price on shares of Workday from $190.00 to $225.00 and gave the company an “overweight” rating in a report on Friday, August 28th. Finally, DA Davidson raised their target price on shares of Workday from $135.00 to $190.00 and gave the company a “neutral” rating in a report on Friday, August 28th. Twenty-two equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Workday has a consensus rating of “Hold” and a consensus price target of $202.10.

Insider Activity at Workday

In related news, major shareholder David Duffield sold 100,780 shares of Workday stock in a transaction on Thursday, September 10th. The shares were sold at an average price of $185.64, for a total transaction of $18,708,799.20. Following the sale, the insider directly owned 105,049 shares in the company, valued at $19,501,296.36. This trade represents a 48.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 988,104 shares of company stock valued at $188,811,574. Company insiders own 18.64% of the company’s stock.

Workday Stock Performance

Shares of WDAY opened at $188.89 on Wednesday. The stock has a 50 day moving average price of $193.87 and a 200 day moving average price of $156.52. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The company has a market capitalization of $45.52 billion, a price-to-earnings ratio of 31.08, a price-to-earnings-growth ratio of 1.91 and a beta of 1.02. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $236.80.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, beating the consensus estimate of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the firm posted $2.21 earnings per share. The firm’s revenue was up 12.8% on a year-over-year basis. Research analysts predict that Workday, Inc. will post 5.32 EPS for the current fiscal year.

Workday Profile

Workday, Inc. develops cloud-based software for managing human resources, finance and business operations. Its products include Workday Human Capital Management, Workday Financial Management and Workday Adaptive Planning, which help organizations manage areas such as workforce administration, accounting, budgeting and forecasting. Founded in 2005 by Dave Duffield and Aneel Bhusri, Workday serves businesses, governments and educational institutions across a range of industries. Its operations and customer base extend across North America and international markets.