Tectonic Advisors LLC Buys 815 Shares of Workday, Inc. (NASDAQ:WDAY)

Tectonic Advisors LLC increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 54.5% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,310 shares of the software maker’s stock after purchasing an additional 815 shares during the quarter. Tectonic Advisors LLC’s holdings in Workday were worth $565,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. William Blair Investment Management LLC boosted its holdings in Workday by 17.6% during the first quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock worth $8,849,000 after purchasing an additional 4,865 shares during the last quarter. ORG Partners LLC boosted its holdings in Workday by 3,717.9% during the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock worth $721,000 after purchasing an additional 3,123 shares during the last quarter. Nordea Investment Management AB boosted its holdings in Workday by 3.0% during the first quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after purchasing an additional 13,502 shares during the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Workday by 42.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock worth $3,649,000 after purchasing an additional 3,965 shares during the last quarter. Finally, Vanguard Group Inc. boosted its holdings in Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after purchasing an additional 324,540 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

WDAY stock opened at $237.71 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The firm has a market cap of $62.99 billion, a P/E ratio of 42.83, a P/E/G ratio of 4.90 and a beta of 1.35. The company’s 50-day moving average price is $246.97 and its two-hundred day moving average price is $237.48.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the firm earned $0.40 EPS. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, analysts anticipate that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Activity

In other news, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 370,575 shares of company stock worth $91,506,897. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the stock. Evercore ISI reduced their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. BMO Capital Markets reiterated an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th. Loop Capital increased their price target on shares of Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. DA Davidson increased their price target on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, Citigroup cut their price target on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.04.

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.