Stonegate Investment Group LLC Acquires 8,918 Shares of Workday, Inc. (NASDAQ:WDAY)

Stonegate Investment Group LLC lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 112.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 16,820 shares of the software maker's stock after acquiring an additional 8,918 shares during the period. Stonegate Investment Group LLC's holdings in Workday were worth $4,588,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. grew its position in Workday by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker's stock valued at $3,988,549,000 after acquiring an additional 437,215 shares during the period. Norges Bank acquired a new stake in shares of Workday during the 4th quarter worth about $1,491,149,000. Wellington Management Group LLP lifted its holdings in Workday by 37.4% during the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker's stock valued at $1,109,348,000 after purchasing an additional 1,406,153 shares during the last quarter. Polen Capital Management LLC boosted its position in Workday by 2.0% in the third quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker's stock valued at $848,726,000 after buying an additional 78,352 shares in the last quarter. Finally, Morgan Stanley grew its stake in Workday by 47.0% during the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker's stock worth $586,021,000 after buying an additional 872,288 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Activity

In related news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction on Friday, March 15th. The shares were sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $27,690,743.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the sale, the insider now owns 843,000 shares of the company's stock, valued at approximately $223,302,270. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 64,329 shares of the business's stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the transaction, the insider now owns 102,997 shares in the company, valued at $27,690,743.45. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock worth $117,731,569 over the last three months. Corporate insiders own 21.09% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Barclays decreased their price target on Workday from $326.00 to $316.00 and set an "overweight" rating on the stock in a research report on Tuesday, February 27th. Mizuho upped their price target on shares of Workday from $290.00 to $325.00 and gave the stock a "buy" rating in a research report on Tuesday, February 27th. Piper Sandler restated an "overweight" rating and issued a $330.00 price objective on shares of Workday in a research report on Monday, February 26th. Wells Fargo & Company upped their target price on shares of Workday from $300.00 to $350.00 and gave the stock an "overweight" rating in a research report on Tuesday, February 20th. Finally, TheStreet raised shares of Workday from a "c" rating to a "b-" rating in a report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company's stock. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $293.61.

Workday Stock Down 1.6 %

WDAY stock traded down $4.04 during mid-day trading on Tuesday, hitting $244.73. 2,674,113 shares of the company were exchanged, compared to its average volume of 1,776,761. The firm has a market cap of $64.61 billion, a P/E ratio of 47.52, a P/E/G ratio of 6.27 and a beta of 1.32. Workday, Inc. has a 1-year low of $174.25 and a 1-year high of $311.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The firm's 50 day simple moving average is $271.27 and its 200 day simple moving average is $264.80.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm's quarterly revenue was up 16.8% on a year-over-year basis. During the same period last year, the business posted ($0.14) earnings per share. On average, sell-side analysts predict that Workday, Inc. will post 1.76 EPS for the current fiscal 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.

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