Charles Schwab Investment Management Inc. Grows Stock Position in Workday, Inc. (NASDAQ:WDAY)

Charles Schwab Investment Management Inc. boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 3.0% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 835,203 shares of the software maker’s stock after acquiring an additional 24,195 shares during the quarter. Charles Schwab Investment Management Inc. owned 0.32% of Workday worth $204,132,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after purchasing an additional 1,016,394 shares during the period. Legal & General Group Plc raised its position in Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in Workday by 15.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,167,131 shares of the software maker’s stock worth $260,924,000 after buying an additional 153,577 shares during the period. Van ECK Associates Corp increased its stake in shares of Workday by 0.4% during the third quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock valued at $226,266,000 after buying an additional 4,127 shares during the period. Finally, Envestnet Asset Management Inc. raised its holdings in shares of Workday by 13.4% during the second quarter. Envestnet Asset Management Inc. now owns 698,776 shares of the software maker’s stock valued at $156,218,000 after acquiring an additional 82,570 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Transactions at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the sale, the director now directly owns 97,500 shares of the company’s stock, valued at approximately $25,381,200. This represents a 7.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the transaction, the director now owns 8,674 shares in the company, valued at $2,097,806.90. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock worth $91,506,897 in the last quarter. Company insiders own 20.00% of the company’s stock.

Workday Trading Down 0.1 %

Shares of WDAY stock opened at $267.75 on Friday. The stock has a market capitalization of $70.95 billion, a P/E ratio of 46.65, a P/E/G ratio of 5.32 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm’s 50 day moving average is $247.71 and its 200 day moving average is $236.98. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

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

Analyst Ratings Changes

WDAY has been the topic of several recent analyst reports. KeyCorp lifted their price target on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Morgan Stanley cut their target price on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research note on Friday, August 23rd. Citigroup lowered their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Barclays upped their target price on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Finally, Loop Capital raised their target price on Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $289.46.

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.