Summit Global Investments Acquires Shares of 8,642 Workday, Inc. $WDAY

Summit Global Investments bought a new position in Workday, Inc. (NASDAQ:WDAY) in the 3rd quarter, Holdings Channel.com reports. The firm bought 8,642 shares of the software maker’s stock, valued at approximately $2,080,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the company. Verdence Capital Advisors LLC lifted its position in Workday by 1.0% in the second quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock valued at $1,051,000 after purchasing an additional 45 shares during the period. Perennial Investment Advisors LLC increased its position in Workday by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock worth $418,000 after purchasing an additional 48 shares during the period. Johnson Investment Counsel Inc. raised its stake in shares of Workday by 2.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock worth $528,000 after buying an additional 49 shares in the last quarter. Bay Harbor Wealth Management LLC lifted its holdings in shares of Workday by 12.0% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock valued at $110,000 after buying an additional 49 shares during the period. Finally, Farther Finance Advisors LLC lifted its holdings in shares of Workday by 1.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock valued at $994,000 after buying an additional 49 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts have issued reports on the company. DA Davidson cut their price objective on Workday from $260.00 to $250.00 and set a “hold” rating for the company in a research report on Wednesday, November 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Workday in a research note on Wednesday, November 26th. Royal Bank Of Canada reduced their price objective on shares of Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. TD Cowen reissued a “buy” rating on shares of Workday in a report on Wednesday, November 26th. Finally, UBS Group set a $260.00 target price on shares of Workday in a report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and thirteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $278.09.

Insider Activity

In other Workday news, insider Gerrit S. Kazmaier sold 3,759 shares of the firm’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $208.73, for a total transaction of $784,616.07. Following the completion of the transaction, the insider owned 105,167 shares of the company’s stock, valued at approximately $21,951,507.91. This trade represents a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Richard Harry Sauer sold 1,130 shares of the company’s stock in a transaction on Tuesday, January 6th. The shares were sold at an average price of $210.00, for a total value of $237,300.00. Following the completion of the sale, the insider owned 85,398 shares in the company, valued at $17,933,580. This represents a 1.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 370,321 shares of company stock worth $78,866,401 in the last quarter. 19.31% of the stock is currently owned by corporate insiders.

Workday Stock Performance

NASDAQ:WDAY opened at $174.66 on Friday. 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 company has a market capitalization of $45.94 billion, a P/E ratio of 73.39, a price-to-earnings-growth ratio of 2.13 and a beta of 1.14. The firm has a 50-day moving average price of $209.36 and a two-hundred day moving average price of $223.83. Workday, Inc. has a twelve month low of $169.01 and a twelve month high of $283.68.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.