Janney Montgomery Scott LLC Has $1.03 Million Holdings in Workday, Inc. $WDAY

Janney Montgomery Scott LLC grew its position in shares of Workday, Inc. (NASDAQ:WDAY) by 251.9% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 7,915 shares of the software maker’s stock after acquiring an additional 5,666 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Workday were worth $1,028,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently modified their holdings of the company. Norges Bank bought a new position in shares of Workday during the 4th quarter worth approximately $448,804,000. Harvest Fund Management Co. Ltd grew its holdings in shares of Workday by 40.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock valued at $11,943,000 after acquiring an additional 15,903 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of Workday by 18.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock valued at $122,804,000 after acquiring an additional 88,384 shares during the last quarter. Aurora Investment Counsel purchased a new stake in shares of Workday during the fourth quarter valued at approximately $2,357,000. Finally, Morningstar Investment Management LLC lifted its holdings in Workday by 127.2% during the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after acquiring an additional 15,138 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WDAY shares. Citigroup reaffirmed a “market perform” rating on shares of Workday in a research report on Friday, May 22nd. Wall Street Zen upgraded shares of Workday from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. KeyCorp boosted their target price on shares of Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Piper Sandler increased their target price on shares of Workday from $135.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, May 22nd. Finally, Monness Crespi & Hardt upgraded shares of Workday from a “neutral” rating to a “buy” rating and set a $150.00 price target for the company in a research note on Thursday, June 25th. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $184.00.

Workday Price Performance

Workday stock opened at $138.95 on Monday. The firm has a market capitalization of $34.32 billion, a P/E ratio of 43.42, a PEG ratio of 1.49 and a beta of 1.11. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The business has a fifty day moving average price of $129.78 and a 200-day moving average price of $146.63.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.23 EPS. As a group, equities research analysts forecast that Workday, Inc. will post 5.34 EPS for the current year.

Insiders Place Their Bets

In other news, insider Robert Enslin sold 5,374 shares of the business’s stock in a transaction dated Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the transaction, the insider owned 239,469 shares of the company’s stock, valued at approximately $32,304,368.10. The trade was a 2.19% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through 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, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at approximately $12,820,179.96. This trade represents a 50.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 766,602 shares of company stock valued at $99,108,423 in the last ninety days. Corporate insiders own 18.64% of the company’s stock.

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.