Brookstone Capital Management Buys New Shares in Workday, Inc. $WDAY

Brookstone Capital Management bought a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the 3rd quarter, Holdings Channel.com reports. The firm bought 15,169 shares of the software maker’s stock, valued at approximately $3,652,000.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. Vanguard Group Inc. increased its stake in shares of Workday by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock valued at $5,067,404,000 after acquiring an additional 515,529 shares during the last quarter. State Street Corp grew its holdings in Workday by 3.3% in the second quarter. State Street Corp now owns 9,600,516 shares of the software maker’s stock valued at $2,304,124,000 after purchasing an additional 303,713 shares during the period. Geode Capital Management LLC increased its position in Workday by 2.9% during the second quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock worth $1,183,112,000 after purchasing an additional 140,042 shares during the last quarter. Generation Investment Management LLP raised its stake in Workday by 36.6% during the first quarter. Generation Investment Management LLP now owns 2,903,767 shares of the software maker’s stock worth $678,117,000 after purchasing an additional 778,301 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in shares of Workday by 2.5% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,245,249 shares of the software maker’s stock valued at $524,333,000 after purchasing an additional 54,079 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Sanford C. Bernstein dropped their price objective on Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a report on Wednesday, November 26th. KeyCorp dropped their price target on Workday from $285.00 to $260.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Morgan Stanley lifted their price objective on Workday from $255.00 to $280.00 and gave the company an “equal weight” rating in a research note on Wednesday, November 26th. Rosenblatt Securities began coverage on Workday in a report on Tuesday, December 2nd. They set a “neutral” rating and a $235.00 target price for the company. Finally, Raymond James Financial began coverage on shares of Workday in a research report on Friday, November 21st. They set a “market perform” rating for the company. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $282.22.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 82,025 shares of the business’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $212.19, for a total value of $17,404,884.75. Following the transaction, the insider owned 105,049 shares in the company, valued at $22,290,347.31. The trade was a 43.85% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $237.52, for a total transaction of $1,484,500.00. Following the completion of the transaction, the chief executive officer directly owned 20,222 shares of the company’s stock, valued at approximately $4,803,129.44. The trade was a 23.61% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders sold 266,937 shares of company stock valued at $59,316,578. 19.31% of the stock is owned by company insiders.

Workday Price Performance

WDAY stock opened at $220.70 on Friday. The firm has a market cap of $58.04 billion, a P/E ratio of 92.73, a price-to-earnings-growth ratio of 2.49 and a beta of 1.15. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. Workday, Inc. has a 1 year low of $205.33 and a 1 year high of $283.68. The stock has a 50-day simple moving average of $225.39 and a 200-day simple moving average of $230.52.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.42 billion. During the same period in the previous year, the company posted $1.89 EPS. Workday’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.