Bank of New York Mellon Corp Buys 326,251 Shares of Workday, Inc. (NASDAQ:WDAY)

Bank of New York Mellon Corp lifted its stake in Workday, Inc. (NASDAQ:WDAY) by 28.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,465,917 shares of the software maker’s stock after buying an additional 326,251 shares during the quarter. Bank of New York Mellon Corp owned about 0.55% of Workday worth $378,250,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in the stock. Hennion & Walsh Asset Management Inc. raised its stake in Workday by 28.4% during the 3rd quarter. Hennion & Walsh Asset Management Inc. now owns 1,479 shares of the software maker’s stock worth $361,000 after acquiring an additional 327 shares during the period. Wealth Enhancement Advisory Services LLC raised its position in shares of Workday by 1,265.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 44,081 shares of the software maker’s stock valued at $10,774,000 after purchasing an additional 40,853 shares during the period. Pallas Capital Advisors LLC lifted its stake in shares of Workday by 20.8% during the 3rd quarter. Pallas Capital Advisors LLC now owns 4,560 shares of the software maker’s stock valued at $1,080,000 after buying an additional 786 shares in the last quarter. abrdn plc lifted its stake in shares of Workday by 16.3% during the 3rd quarter. abrdn plc now owns 279,856 shares of the software maker’s stock valued at $68,400,000 after buying an additional 39,289 shares in the last quarter. Finally, Fortitude Family Office LLC boosted its holdings in Workday by 713.6% in the 3rd quarter. Fortitude Family Office LLC now owns 179 shares of the software maker’s stock worth $44,000 after buying an additional 157 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 438,819 shares of company stock worth $113,142,592. Insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WDAY. Piper Sandler boosted their price objective on Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday. Bank of America decreased their target price on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and upped their price target for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Wells Fargo & Company lifted their price objective on shares of Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday. Finally, Royal Bank of Canada upped their target price on shares of Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a research report on Wednesday. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $301.11.

Workday Trading Up 6.2 %

WDAY opened at $271.09 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock’s 50 day moving average price is $260.01 and its 200-day moving average price is $254.24. Workday, Inc. has a one year low of $199.81 and a one year high of $298.50. The stock has a market cap of $72.11 billion, a price-to-earnings ratio of 44.96, a P/E/G ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. On average, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

About Workday

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.