Glynn Capital Management LLC Has $41.09 Million Stake in Workday Inc (NASDAQ:WDAY)

Glynn Capital Management LLC boosted its stake in shares of Workday Inc (NASDAQ:WDAY) by 31.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 241,773 shares of the software maker’s stock after purchasing an additional 58,114 shares during the quarter. Workday comprises 7.5% of Glynn Capital Management LLC’s portfolio, making the stock its 4th largest holding. Glynn Capital Management LLC’s holdings in Workday were worth $41,092,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in WDAY. Toth Financial Advisory Corp raised its stake in shares of Workday by 3.3% in the second quarter. Toth Financial Advisory Corp now owns 1,566 shares of the software maker’s stock valued at $322,000 after purchasing an additional 50 shares in the last quarter. Carroll Financial Associates Inc. raised its stake in Workday by 47.4% during the second quarter. Carroll Financial Associates Inc. now owns 168 shares of the software maker’s stock worth $34,000 after acquiring an additional 54 shares in the last quarter. Ballentine Partners LLC raised its stake in Workday by 4.0% during the second quarter. Ballentine Partners LLC now owns 1,427 shares of the software maker’s stock worth $294,000 after acquiring an additional 55 shares in the last quarter. State of Alaska Department of Revenue raised its stake in Workday by 0.3% during the second quarter. State of Alaska Department of Revenue now owns 17,007 shares of the software maker’s stock worth $3,496,000 after acquiring an additional 56 shares in the last quarter. Finally, AdvisorNet Financial Inc raised its stake in Workday by 23.9% during the second quarter. AdvisorNet Financial Inc now owns 347 shares of the software maker’s stock worth $71,000 after acquiring an additional 67 shares in the last quarter. 66.80% of the stock is owned by hedge funds and other institutional investors.

Several research analysts have issued reports on WDAY shares. Needham & Company LLC reiterated a “buy” rating and set a $250.00 price objective on shares of Workday in a research note on Tuesday. ValuEngine upgraded Workday from a “hold” rating to a “buy” rating in a research note on Friday. Jefferies Financial Group dropped their price objective on Workday from $194.00 to $188.00 and set a “hold” rating for the company in a research note on Tuesday, October 8th. JMP Securities set a $225.00 target price on Workday and gave the company a “buy” rating in a research note on Friday, August 30th. Finally, Monness Crespi & Hardt set a $262.00 target price on Workday and gave the company a “buy” rating in a research note on Friday, August 30th. Four equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and twenty-three have issued a buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $211.36.

In other Workday news, CEO Aneel Bhusri sold 300,000 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $175.27, for a total transaction of $52,581,000.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO James Bozzini sold 4,972 shares of the business’s stock in a transaction that occurred on Tuesday, October 15th. The stock was sold at an average price of $183.92, for a total value of $914,450.24. The disclosure for this sale can be found here. In the last three months, insiders sold 1,099,707 shares of company stock worth $189,341,183. 29.80% of the stock is owned by insiders.

Workday stock traded up $1.98 during midday trading on Friday, reaching $162.42. The stock had a trading volume of 1,413,700 shares, compared to its average volume of 1,869,788. The firm’s fifty day simple moving average is $166.83 and its 200-day simple moving average is $192.11. Workday Inc has a 1-year low of $117.72 and a 1-year high of $226.83. The stock has a market capitalization of $36.79 billion, a P/E ratio of -133.13 and a beta of 1.49. The company has a debt-to-equity ratio of 0.11, a quick ratio of 0.81 and a current ratio of 0.81.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 29th. The software maker reported ($0.38) earnings per share (EPS) for the quarter, missing the Zacks’ consensus estimate of ($0.33) by ($0.05). Workday had a negative net margin of 15.25% and a negative return on equity of 15.05%. The firm had revenue of $887.75 million during the quarter, compared to analyst estimates of $872.44 million. During the same period in the prior year, the business posted $0.31 EPS. The firm’s quarterly revenue was up 32.2% compared to the same quarter last year. On average, sell-side analysts anticipate that Workday Inc will post -1.17 earnings per share for the current fiscal year.

Workday Profile

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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