Jefferies Financial Group Inc. Buys 5,198 Shares of Workday, Inc. $WDAY

Jefferies Financial Group Inc. lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 22.1% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 28,696 shares of the software maker’s stock after acquiring an additional 5,198 shares during the period. Jefferies Financial Group Inc.’s holdings in Workday were worth $5,465,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. First Command Advisory Services Inc. increased its holdings in shares of Workday by 1,035.3% during the 3rd quarter. First Command Advisory Services Inc. now owns 193 shares of the software maker’s stock worth $37,000 after buying an additional 176 shares during the last quarter. Illinois Municipal Retirement Fund grew its position in Workday by 0.7% during the third quarter. Illinois Municipal Retirement Fund now owns 80,513 shares of the software maker’s stock valued at $15,335,000 after acquiring an additional 574 shares during the period. TenCore Partners LP grew its position in Workday by 4.7% during the third quarter. TenCore Partners LP now owns 32,765 shares of the software maker’s stock valued at $6,240,000 after acquiring an additional 1,475 shares during the period. Keybank National Association OH increased its stake in Workday by 50.5% during the third quarter. Keybank National Association OH now owns 4,459 shares of the software maker’s stock worth $849,000 after acquiring an additional 1,496 shares during the last quarter. Finally, New York Life Investment Management LLC raised its holdings in shares of Workday by 1.0% in the 3rd quarter. New York Life Investment Management LLC now owns 33,699 shares of the software maker’s stock worth $6,418,000 after purchasing an additional 323 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

WDAY has been the topic of several research analyst reports. Morgan Stanley lifted their price objective on Workday from $145.00 to $180.00 and gave the company an “underweight” rating in a research note on Friday, August 28th. Daiwa Securities Group boosted their target price on Workday from $170.00 to $230.00 and gave the stock a “buy” rating in a report on Wednesday, September 9th. Canaccord Genuity Group increased their target price on shares of Workday from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. TD Cowen cut their price target on shares of Workday from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Friday, August 28th. Finally, Oppenheimer reaffirmed an “outperform” rating on shares of Workday in a research report on Thursday. Twenty-two investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $202.10.

Workday Stock Down 0.3%

Shares of NASDAQ WDAY opened at $190.64 on Friday. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $236.80. The company has a market cap of $45.94 billion, a P/E ratio of 38.67, a P/E/G ratio of 1.92 and a beta of 1.02. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. The stock has a fifty day moving average price of $193.52 and a 200 day moving average price of $156.53.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, beating the consensus estimate of $2.61 by $0.14. The company had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same period last year, the company posted $2.21 earnings per share. Research analysts anticipate that Workday, Inc. will post 5.32 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder David Duffield sold 99,835 shares of the stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $187.55, for a total value of $18,724,054.25. Following the completion of the sale, the insider owned 105,049 shares in the company, valued at approximately $19,701,939.95. This trade represents a 48.73% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Mark Garfield sold 918 shares of the firm’s stock in a transaction dated Monday, October 12th. The shares were sold at an average price of $189.45, for a total value of $173,915.10. Following the sale, the chief accounting officer owned 69,309 shares in the company, valued at approximately $13,130,590.05. The trade was a 1.31% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 988,104 shares of company stock valued at $188,811,574. Company insiders own 18.64% of the company’s stock.

Workday Company Profile

Workday, Inc. develops cloud-based software for managing human resources, finance and business operations. Its products include Workday Human Capital Management, Workday Financial Management and Workday Adaptive Planning, which help organizations manage areas such as workforce administration, accounting, budgeting and forecasting. Founded in 2005 by Dave Duffield and Aneel Bhusri, Workday serves businesses, governments and educational institutions across a range of industries. Its operations and customer base extend across North America and international markets.