Sigma Planning Corp Acquires 7,122 Shares of Workday, Inc. $WDAY

Key Points

• Sigma Planning Corp acquired 7,122 Workday shares worth approximately $1.36 million in the third quarter, while institutional investors collectively own 89.81% of the company.
• Analysts’ consensus rating remains “Hold,” with a $202.10 average price target; individual targets range from $175 to $250.
• Workday reported quarterly revenue of $2.65 billion and adjusted earnings of $2.75 per share, exceeding estimates, while insiders sold nearly 988,104 shares worth $188.8 million over the past 90 days.

Sigma Planning Corp acquired a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) in the 3rd quarter, according to the company in its most recent filing with the SEC. The fund acquired 7,122 shares of the software maker's stock, valued at approximately $1,357,000.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Samalin Investment Counsel LLC bought a new stake in Workday during the 3rd quarter worth about $632,000. Robeco Schweiz AG acquired a new stake in Workday in the 3rd quarter valued at about $7,276,000. Signaturefd LLC increased its position in Workday by 23.8% in the 3rd quarter. Signaturefd LLC now owns 5,641 shares of the software maker's stock valued at $1,074,000 after acquiring an additional 1,084 shares in the last quarter. Evanson Financial LLC acquired a new stake in Workday in the 3rd quarter valued at about $253,000. Finally, Citizens Financial Group Inc. RI raised its stake in shares of Workday by 1.6% in the third quarter. Citizens Financial Group Inc. RI now owns 4,770 shares of the software maker's stock worth $908,000 after acquiring an additional 75 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. UBS Group set a $175.00 target price on shares of Workday in a research report on Thursday, October 15th. Rothschild & Co Redburn increased their price target on shares of Workday from $210.00 to $250.00 and gave the company a "neutral" rating in a research note on Monday, August 17th. Loop Capital raised their price target on shares of Workday from $135.00 to $200.00 and gave the company a "hold" rating in a report on Friday, August 21st. Bank of America boosted their price objective on shares of Workday from $140.00 to $205.00 and gave the stock a "neutral" rating in a research report on Wednesday, August 19th. Finally, Daiwa Securities Group upped their price objective on Workday from $170.00 to $230.00 and gave the stock a "buy" rating in a report on Wednesday, September 9th. Twenty-two equities research analysts have rated the stock with a Buy rating, twenty have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $202.10.

Insider Activity at Workday

In related news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, October 6th. The shares were sold at an average price of $187.23, for a total value of $1,123,380.00. Following the transaction, the chief financial officer directly owned 269,642 shares in the company, valued at $50,485,071.66. This represents a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CAO Mark S. Garfield sold 918 shares of the firm's stock in a transaction that occurred on Monday, October 12th. The shares were sold at an average price of $189.45, for a total transaction of $173,915.10. Following the completion of the transaction, the chief accounting officer directly owned 69,309 shares in the company, valued at approximately $13,130,590.05. The trade was a 1.31% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 988,104 shares of company stock worth $188,811,574 over the last 90 days. Insiders own 18.64% of the company's stock.

Workday Price Performance

Shares of WDAY stock opened at $204.36 on Thursday. The firm has a market cap of $49.25 billion, a price-to-earnings ratio of 41.45, a PEG ratio of 2.11 and a beta of 1.07. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $241.32. 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 stock has a 50-day moving average price of $194.12 and a 200 day moving average price of $156.41.

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

Workday Profile

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company's products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.

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