Sanders Morris Harris LLC Buys New Holdings in Workday, Inc. $WDAY

by · The Cerbat Gem

Sanders Morris Harris LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY – Free Report) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor bought 5,250 shares of the software maker’s stock, valued at approximately $1,264,000.

Other hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. bought a new position in Workday in the 2nd quarter valued at about $25,000. Berbice Capital Management LLC raised its stake in shares of Workday by 136.4% in the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after purchasing an additional 75 shares during the last quarter. Golden State Wealth Management LLC lifted its holdings in shares of Workday by 2,216.7% in the second quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after purchasing an additional 133 shares in the last quarter. Twin Peaks Wealth Advisors LLC purchased a new position in shares of Workday during the second quarter valued at approximately $41,000. Finally, Physician Wealth Advisors Inc. purchased a new position in shares of Workday during the second quarter valued at approximately $42,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Trading Up 0.6%

NASDAQ:WDAY opened at $216.11 on Wednesday. Workday, Inc. has a 12 month low of $205.33 and a 12 month high of $283.68. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. The firm’s 50 day moving average is $228.21 and its 200 day moving average is $232.26. The stock has a market capitalization of $56.84 billion, a PE ratio of 90.80, a price-to-earnings-growth ratio of 2.44 and a beta of 1.15.

Workday (NASDAQ:WDAY – Get Free Report) last released its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The business had revenue of $2.43 billion during the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the business posted $1.89 earnings per share. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. Sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other Workday news, insider Richard Harry Sauer sold 2,320 shares of the company’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $235.87, for a total transaction of $547,218.40. Following the sale, the insider directly owned 90,077 shares of the company’s stock, valued at $21,246,461.99. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 82,025 shares of Workday stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $212.19, for a total transaction of $17,404,884.75. Following the completion of the transaction, the insider owned 105,049 shares of the company’s stock, valued at $22,290,347.31. The trade was a 43.85% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 251,074 shares of company stock worth $57,717,721 in the last ninety days. 20.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on WDAY shares. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Wednesday, November 26th. Deutsche Bank Aktiengesellschaft cut their price target on shares of Workday from $330.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Weiss Ratings reiterated a “hold (c)” rating on shares of Workday in a research note on Wednesday, October 8th. Rosenblatt Securities started coverage on Workday in a research note on Tuesday, December 2nd. They issued a “neutral” rating and a $235.00 target price on the stock. Finally, Bank of America reduced their target price on Workday from $295.00 to $278.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and twelve have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $282.22.

View Our Latest Stock Analysis on WDAY

Workday Profile

(Free Report)

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.

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