Moors & Cabot Inc. Acquires New Holdings in Workday, Inc. (NASDAQ:WDAY)

Moors & Cabot Inc. bought a new stake in Workday, Inc. (NASDAQ:WDAY) during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 829 shares of the software maker’s stock, valued at approximately $203,000.

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

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the completion of the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. This trade represents a 7.69 % 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. 20.00% of the stock is owned by insiders.

Analysts Set New Price Targets

Several analysts have recently issued reports on WDAY shares. Scotiabank initiated coverage on shares of Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. The Goldman Sachs Group increased their target price on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Loop Capital boosted their price target on shares of Workday from $255.00 to $270.00 and gave the stock a “hold” rating in a research note on Thursday, November 14th. Morgan Stanley reduced their price objective on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Finally, JMP Securities reissued a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $289.46.

Workday Stock Down 0.1 %

WDAY stock opened at $267.75 on Monday. The company has a market cap of $70.95 billion, a price-to-earnings ratio of 46.65, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35. The company has a fifty day moving average price of $247.71 and a 200 day moving average price of $236.89. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share 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 the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $0.40 earnings per share. Sell-side analysts expect that Workday, Inc. will post 2.4 earnings per share for the current year.

Workday Company 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.