Cornerstone Capital Inc. Acquires 5,946 Shares of Workday, Inc. (NASDAQ:WDAY)

Cornerstone Capital Inc. raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 7.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 82,365 shares of the software maker’s stock after purchasing an additional 5,946 shares during the quarter. Workday accounts for about 2.5% of Cornerstone Capital Inc.’s portfolio, making the stock its 15th largest position. Cornerstone Capital Inc.’s holdings in Workday were worth $22,738,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of WDAY. Global Retirement Partners LLC lifted its holdings in shares of Workday by 68.5% in the 3rd quarter. Global Retirement Partners LLC now owns 332 shares of the software maker’s stock worth $70,000 after acquiring an additional 135 shares during the last quarter. Caprock Group LLC lifted its holdings in shares of Workday by 136.5% in the 3rd quarter. Caprock Group LLC now owns 2,330 shares of the software maker’s stock worth $501,000 after acquiring an additional 1,345 shares during the last quarter. Oak Thistle LLC bought a new stake in shares of Workday in the 3rd quarter worth about $971,000. Asset Management One Co. Ltd. lifted its holdings in shares of Workday by 3.7% in the 3rd quarter. Asset Management One Co. Ltd. now owns 84,057 shares of the software maker’s stock worth $18,060,000 after acquiring an additional 2,975 shares during the last quarter. Finally, Evanson Asset Management LLC lifted its holdings in shares of Workday by 32.0% in the 3rd quarter. Evanson Asset Management LLC now owns 2,063 shares of the software maker’s stock worth $443,000 after acquiring an additional 500 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Down 1.2 %

Shares of Workday stock opened at $251.04 on Friday. The company has a market cap of $66.27 billion, a P/E ratio of 48.75, a PEG ratio of 6.27 and a beta of 1.32. Workday, Inc. has a 52-week low of $174.25 and a 52-week high of $311.28. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The firm’s 50 day moving average price is $273.49 and its 200-day moving average price is $264.07.

Workday (NASDAQ:WDAY) last released its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.10. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. Workday’s revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) EPS. On average, sell-side analysts predict that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business’s 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 approximately $223,302,270. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Workday news, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the completion of the sale, the director now directly owns 105,000 shares in the company, valued at approximately $28,404,600. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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. In the last quarter, insiders have sold 435,691 shares of company stock valued at $117,731,569. Insiders own 21.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently issued reports on the stock. Piper Sandler restated an “overweight” rating and issued a $330.00 target price on shares of Workday in a report on Monday, February 26th. StockNews.com lowered shares of Workday from a “strong-buy” rating to a “buy” rating in a report on Monday, April 8th. Wells Fargo & Company lifted their price objective on shares of Workday from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. Guggenheim reiterated a “sell” rating and set a $190.00 price objective on shares of Workday in a report on Tuesday, February 27th. Finally, BMO Capital Markets lifted their price objective on shares of Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. 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, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $293.61.

About Workday

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.