Cerity Partners LLC Has $20.94 Million Stock Holdings in Workday, Inc. $WDAY

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

A number of other hedge funds also recently modified their holdings of WDAY. Dagco Inc. bought a new stake in shares of Workday during the 1st quarter worth about $31,000. Berbice Capital Management LLC boosted its holdings in shares of Workday by 136.4% during the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after acquiring an additional 75 shares during the period. Golden State Wealth Management LLC grew its position 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 during the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Workday in the second quarter valued at approximately $41,000. Finally, Physician Wealth Advisors Inc. bought a new position in shares of Workday during the second quarter worth approximately $42,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total value of $1,395,720.00. Following the completion of the transaction, the chief financial officer owned 168,468 shares of the company’s stock, valued at approximately $39,189,026.16. This represents a 3.44% decrease in their ownership of the stock. The transaction was disclosed in a legal 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 firm’s stock in a transaction that occurred on Friday, October 10th. The shares were sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the completion of the sale, 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 ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 346,958 shares of company stock worth $78,880,645 over the last quarter. 20.00% of the stock is currently owned by company insiders.

Workday Stock Performance

NASDAQ WDAY opened at $222.25 on Wednesday. The firm’s 50 day simple moving average is $229.61 and its 200 day simple moving average is $233.00. The firm has a market capitalization of $58.45 billion, a price-to-earnings ratio of 93.38, a P/E/G ratio of 2.67 and a beta of 1.15. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. Workday, Inc. has a 1 year low of $205.33 and a 1 year high of $283.68.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.15. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The company’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.89 earnings per share. As a group, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on WDAY shares. Evercore ISI upped their price objective on Workday from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Guggenheim reissued a “buy” rating and issued a $285.00 target price on shares of Workday in a research report on Wednesday, November 26th. Barclays decreased their price target on shares of Workday from $288.00 to $280.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 26th. Cowen reiterated a “buy” rating on shares of Workday in a research note on Wednesday, November 26th. Finally, Canaccord Genuity Group cut their price objective on shares of Workday from $330.00 to $275.00 and set a “buy” rating for the company in a report on Friday, August 22nd. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price 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.