Malaga Cove Capital LLC Has $889,000 Stake in Workday, Inc. (NASDAQ:WDAY)

Malaga Cove Capital LLC lowered its holdings in Workday, Inc. (NASDAQ:WDAY) by 2.2% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 3,639 shares of the software maker’s stock after selling 82 shares during the quarter. Malaga Cove Capital LLC’s holdings in Workday were worth $889,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDAY. Crewe Advisors LLC bought a new stake in shares of Workday during the first quarter worth about $27,000. SouthState Corp increased its holdings in Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares in the last quarter. Goodman Advisory Group LLC bought a new position in shares of Workday in the second quarter valued at approximately $35,000. Asset Dedication LLC purchased a new position in shares of Workday during the second quarter valued at approximately $36,000. Finally, PSI Advisors LLC purchased a new position in shares of Workday during the second quarter valued at approximately $38,000. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several analyst reports. Loop Capital increased their target price on shares of Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. BMO Capital Markets reiterated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, September 18th. Barclays boosted their target price on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft upped their target price on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Citigroup dropped their price target on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Monday, October 14th. The shares were sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the sale, the insider now owns 281,000 shares in the company, valued at approximately $68,004,810. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the sale, the insider now owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 370,575 shares of company stock valued at $91,506,897 in the last quarter. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Up 4.4 %

WDAY opened at $251.80 on Thursday. The firm has a market capitalization of $66.73 billion, a P/E ratio of 43.87, a price-to-earnings-growth ratio of 4.79 and a beta of 1.35. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The company has a fifty day moving average price of $245.97 and a 200-day moving average price of $235.90. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period in the prior year, the company earned $0.40 EPS. The company’s quarterly revenue was up 16.5% compared to the same quarter last year. Equities research analysts expect that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

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.