Arcus Capital Partners LLC Raises Stock Position in Workday, Inc. (NASDAQ:WDAY)

Arcus Capital Partners LLC grew its holdings in Workday, Inc. (NASDAQ:WDAY) by 16.6% during the 3rd quarter, Holdings Channel.com reports. The fund owned 12,887 shares of the software maker’s stock after acquiring an additional 1,831 shares during the period. Workday accounts for about 1.1% of Arcus Capital Partners LLC’s portfolio, making the stock its 12th largest position. Arcus Capital Partners LLC’s holdings in Workday were worth $3,150,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. William Blair Investment Management LLC boosted its holdings in shares of Workday by 17.6% during the 1st quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock valued at $8,849,000 after purchasing an additional 4,865 shares during the last quarter. ORG Partners LLC boosted its position in shares of Workday by 3,717.9% during the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after acquiring an additional 3,123 shares during the last quarter. O Shaughnessy Asset Management LLC grew its holdings in shares of Workday by 42.1% in the first quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock valued at $3,649,000 after purchasing an additional 3,965 shares in the last quarter. Vanguard Group Inc. increased its position in Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after purchasing an additional 324,540 shares during the last quarter. Finally, Legal & General Group Plc raised its stake in Workday by 7.4% during the second 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 in the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

WDAY has been the subject of several recent research reports. Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Friday, September 13th. KeyCorp lifted their target price on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Loop Capital boosted their price target on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lifted their price objective on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, The Goldman Sachs Group lifted their price objective on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.04.

Workday Trading Up 3.0 %

Shares of Workday stock opened at $264.15 on Tuesday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a market cap of $70.00 billion, a PE ratio of 46.02, a price-to-earnings-growth ratio of 5.09 and a beta of 1.35. The firm has a fifty day moving average price of $245.77 and a 200 day moving average price of $235.86.

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

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Workday news, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction that occurred on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total transaction of $738,934.52. Following the transaction, the insider now owns 85,795 shares in the company, valued at approximately $20,228,745.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 370,575 shares of company stock worth $91,506,897. Corporate insiders own 20.00% of the company’s stock.

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.