Cerity Partners LLC Purchases 4,620 Shares of Workday, Inc. $WDAY

Cerity Partners LLC raised its position in Workday, Inc. (NASDAQ:WDAY) by 5.6% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 87,231 shares of the software maker’s stock after purchasing an additional 4,620 shares during the quarter. Cerity Partners LLC’s holdings in Workday were worth $20,935,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WDAY. Verdence Capital Advisors LLC increased its stake in shares of Workday by 1.0% in the second quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock valued at $1,051,000 after buying an additional 45 shares during the period. Perennial Investment Advisors LLC grew its holdings in Workday by 2.8% during the 2nd quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock worth $418,000 after acquiring an additional 48 shares during the last quarter. Johnson Investment Counsel Inc. increased its position in Workday by 2.3% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock valued at $528,000 after acquiring an additional 49 shares during the period. Kingsview Wealth Management LLC raised its stake in shares of Workday by 1.1% during the second quarter. Kingsview Wealth Management LLC now owns 4,544 shares of the software maker’s stock valued at $1,091,000 after acquiring an additional 50 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. raised its stake in shares of Workday by 3.5% during the second quarter. Mesirow Financial Investment Management Inc. now owns 1,527 shares of the software maker’s stock valued at $366,000 after acquiring an additional 51 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Price Performance

Workday stock opened at $222.25 on Wednesday. The stock has a market capitalization of $58.45 billion, a price-to-earnings ratio of 93.38, a PEG ratio of 2.67 and a beta of 1.15. Workday, Inc. has a 52-week low of $205.33 and a 52-week high of $283.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. The stock’s 50 day moving average price is $229.61 and its two-hundred day moving average price is $233.00.

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

Insider Activity

In related news, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $232.62, for a total transaction of $1,395,720.00. Following the transaction, the chief financial officer directly owned 168,468 shares of the company’s stock, valued at approximately $39,189,026.16. This represents a 3.44% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Michael M. Mcnamara sold 5,393 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $235.16, for a total value of $1,268,217.88. Following the completion of the transaction, the director owned 24,078 shares in the company, valued at approximately $5,662,182.48. The trade was a 18.30% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 346,958 shares of company stock valued at $78,880,645. Corporate insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

A number of analysts recently weighed in on the company. Morgan Stanley increased their price objective on Workday from $255.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, November 26th. Canaccord Genuity Group decreased their price target on Workday from $330.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. UBS Group set a $260.00 price objective on Workday in a research report on Wednesday, November 26th. Wells Fargo & Company reduced their target price on Workday from $300.00 to $290.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. Finally, Bank of America decreased their target price on shares of Workday from $295.00 to $278.00 and set a “buy” rating for the company in a research report on Tuesday, August 19th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $281.16.

Workday Company 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.