Tocqueville Asset Management L.P. Acquires 19,245 Shares of Workday Inc (WDAY)
Tocqueville Asset Management L.P. lifted its holdings in shares of Workday Inc (NASDAQ:WDAY) by 18.4% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 123,720 shares of the software maker’s stock after purchasing an additional 19,245 shares during the period. Tocqueville Asset Management L.P.’s holdings in Workday were worth $18,061,000 as of its most recent filing with the Securities and Exchange Commission.
Several other institutional investors and hedge funds have also made changes to their positions in WDAY. Nisa Investment Advisors LLC increased its holdings in shares of Workday by 55.6% during the second quarter. Nisa Investment Advisors LLC now owns 1,400 shares of the software maker’s stock worth $170,000 after purchasing an additional 500 shares during the period. Stratos Wealth Partners LTD. bought a new position in Workday in the third quarter valued at approximately $185,000. Mirador Capital Partners LP bought a new position in Workday in the second quarter valued at approximately $200,000. Athena Capital Advisors LLC bought a new position in Workday in the third quarter valued at approximately $202,000. Finally, MML Investors Services LLC bought a new position in Workday in the third quarter valued at approximately $208,000. 68.92% of the stock is currently owned by institutional investors.
A number of research analysts recently issued reports on WDAY shares. BidaskClub raised shares of Workday from a “hold” rating to a “buy” rating in a research note on Tuesday, August 14th. Royal Bank of Canada lifted their price objective on shares of Workday to $159.00 and gave the company an “outperform” rating in a research note on Thursday, August 23rd. UBS Group lifted their price objective on shares of Workday to $169.00 and gave the company a “positive” rating in a research note on Tuesday, September 4th. Monness Crespi & Hardt lifted their price objective on shares of Workday from $158.00 to $175.00 and gave the company a “buy” rating in a research note on Wednesday, September 5th. Finally, Stifel Nicolaus lifted their price objective on shares of Workday to $160.00 and gave the company a “hold” rating in a research note on Friday, November 30th. Two equities research analysts have rated the stock with a sell rating, twelve have given a hold rating, sixteen have issued a buy rating and two have issued a strong buy rating to the company. The company presently has an average rating of “Buy” and an average price target of $155.50.
Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, November 29th. The software maker reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of ($0.45) by $0.76. Workday had a negative net margin of 15.40% and a negative return on equity of 15.98%. The firm had revenue of $743.20 million for the quarter, compared to analyst estimates of $723.38 million. During the same quarter last year, the business posted $0.24 earnings per share. The company’s quarterly revenue was up 33.8% on a year-over-year basis. Equities analysts anticipate that Workday Inc will post -1.11 EPS for the current fiscal year.
In other news, SVP James P. Shaughnessy sold 4,800 shares of Workday stock in a transaction on Monday, September 10th. The shares were sold at an average price of $144.08, for a total transaction of $691,584.00. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Petros Dermetzis sold 6,699 shares of Workday stock in a transaction on Monday, September 17th. The stock was sold at an average price of $147.07, for a total transaction of $985,221.93. The disclosure for this sale can be found here. Insiders sold 413,039 shares of company stock worth $55,130,414 in the last 90 days. Company insiders own 33.59% of the company’s stock.
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Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, employee expense and revenue management, projects, procurement, inventory, and grants management.
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