Cercano Management LLC Acquires Shares of 70,423 Workday, Inc. (NASDAQ:WDAY)

Cercano Management LLC acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 70,423 shares of the software maker’s stock, valued at approximately $19,441,000.

Other institutional investors have also bought and sold shares of the company. Beacon Capital Management LLC lifted its position in Workday by 333.3% during the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after purchasing an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC lifted its holdings in shares of Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after acquiring an additional 84 shares during the last quarter. Clear Street Markets LLC bought a new stake in shares of Workday in the 3rd quarter worth about $29,000. Exchange Traded Concepts LLC lifted its holdings in shares of Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after acquiring an additional 105 shares during the last quarter. Finally, CVA Family Office LLC bought a new stake in shares of Workday in the 4th quarter worth about $33,000. Institutional investors own 89.81% of the company’s stock.

Workday Stock Down 1.2 %

Shares of Workday stock traded down $3.02 on Friday, reaching $251.04. The stock had a trading volume of 2,549,113 shares, compared to its average volume of 1,310,809. The company has a 50 day moving average price of $273.49 and a 200 day moving average price of $264.07. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 1 year low of $174.25 and a 1 year high of $311.28. The stock has a market capitalization of $66.27 billion, a P/E ratio of 48.75, a P/E/G ratio of 6.27 and a beta of 1.32.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the previous year, the firm earned ($0.14) EPS. The company’s quarterly revenue was up 16.8% compared to the same quarter last year. As a group, equities research analysts forecast that Workday, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the sale, the insider now directly owns 843,000 shares in the company, valued at approximately $223,302,270. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the sale, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the sale, the insider now owns 843,000 shares of the company’s stock, valued at $223,302,270. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock worth $117,731,569 in the last three months. Corporate insiders own 21.09% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts have recently issued reports on WDAY shares. JMP Securities restated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Tuesday, February 27th. The Goldman Sachs Group raised their target price on shares of Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. DA Davidson restated a “neutral” rating and issued a $300.00 target price on shares of Workday in a report on Tuesday, February 27th. JPMorgan Chase & Co. raised their target price on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Finally, TheStreet raised shares of Workday from a “c” rating to a “b-” rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Workday Profile

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.