Rafferty Asset Management LLC Raises Position in Workday, Inc. (NASDAQ:WDAY)

Rafferty Asset Management LLC lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAYGet Rating) by 26.9% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 65,137 shares of the software maker’s stock after acquiring an additional 13,827 shares during the quarter. Rafferty Asset Management LLC’s holdings in Workday were worth $9,092,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Sentry Investment Management LLC purchased a new stake in shares of Workday during the first quarter valued at approximately $31,000. Lindbrook Capital LLC increased its position in shares of Workday by 72.6% during the second quarter. Lindbrook Capital LLC now owns 252 shares of the software maker’s stock valued at $35,000 after acquiring an additional 106 shares during the last quarter. Fieldpoint Private Securities LLC increased its position in shares of Workday by 68.0% during the second quarter. Fieldpoint Private Securities LLC now owns 252 shares of the software maker’s stock valued at $35,000 after acquiring an additional 102 shares during the last quarter. Venture Visionary Partners LLC purchased a new stake in shares of Workday during the second quarter valued at approximately $38,000. Finally, CoreCap Advisors LLC purchased a new stake in shares of Workday during the second quarter valued at approximately $38,000. 68.16% of the stock is owned by hedge funds and other institutional investors.

Workday Trading Up 2.1 %

WDAY traded up $3.05 during midday trading on Thursday, reaching $149.34. 1,501,135 shares of the company’s stock traded hands, compared to its average volume of 2,314,892. The firm has a fifty day moving average of $149.18 and a two-hundred day moving average of $153.22. The stock has a market capitalization of $38.23 billion, a price-to-earnings ratio of -191.46 and a beta of 1.29. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.61 and a quick ratio of 1.61. Workday, Inc. has a 52 week low of $128.72 and a 52 week high of $285.58.

Workday (NASDAQ:WDAYGet Rating) last released its quarterly earnings results on Thursday, August 25th. The software maker reported ($0.16) EPS for the quarter, meeting analysts’ consensus estimates of ($0.16). Workday had a negative return on equity of 2.34% and a negative net margin of 3.46%. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.52 billion. During the same quarter in the prior year, the company posted $0.49 EPS. On average, equities analysts anticipate that Workday, Inc. will post -0.61 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on the company. Needham & Company LLC raised their target price on Workday from $200.00 to $220.00 and gave the stock a “buy” rating in a research report on Friday, August 26th. Macquarie assumed coverage on Workday in a research report on Wednesday, November 2nd. They issued a “neutral” rating and a $170.00 target price for the company. Barclays decreased their target price on Workday from $208.00 to $198.00 and set an “overweight” rating for the company in a research report on Friday, November 18th. Oppenheimer reaffirmed a “buy” rating and issued a $205.00 price target on shares of Workday in a report on Friday, August 26th. Finally, Mizuho lifted their price objective on Workday from $200.00 to $220.00 and gave the company a “buy” rating in a research note on Friday, August 26th. Ten analysts have rated the stock with a hold rating and twenty have assigned a buy rating to the company. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $221.48.

Insider Transactions at Workday

In other news, insider Douglas A. Robinson sold 2,128 shares of the stock in a transaction that occurred on Saturday, October 15th. The stock was sold at an average price of $147.14, for a total value of $313,113.92. Following the completion of the transaction, the insider now owns 132,545 shares of the company’s stock, valued at approximately $19,502,671.30. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Aneel Bhusri sold 3,497 shares of the company’s stock in a transaction that occurred on Saturday, October 15th. The stock was sold at an average price of $147.14, for a total value of $514,548.58. Following the sale, the chief executive officer now owns 418,509 shares in the company, valued at approximately $61,579,414.26. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas A. Robinson sold 2,128 shares of the company’s stock in a transaction that occurred on Saturday, October 15th. The stock was sold at an average price of $147.14, for a total value of $313,113.92. Following the completion of the sale, the insider now owns 132,545 shares in the company, valued at approximately $19,502,671.30. The disclosure for this sale can be found here. In the last quarter, insiders sold 120,974 shares of company stock valued at $18,758,209. Corporate insiders own 21.74% of the company’s stock.

Workday Profile

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Workday, Inc provides enterprise cloud applications in the United States and internationally. The company's applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. It offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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