Moody Lynn & Lieberson LLC Takes $2.38 Million Position in Workday Inc (NASDAQ:WDAY)

Moody Lynn & Lieberson LLC purchased a new stake in shares of Workday Inc (NASDAQ:WDAY) during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 11,585 shares of the software maker’s stock, valued at approximately $2,382,000.

Other hedge funds have also recently made changes to their positions in the company. Shine Investment Advisory Services Inc. boosted its position in shares of Workday by 60.9% during the 1st quarter. Shine Investment Advisory Services Inc. now owns 148 shares of the software maker’s stock valued at $29,000 after acquiring an additional 56 shares during the last quarter. Lindbrook Capital LLC boosted its position in shares of Workday by 149.2% during the 1st quarter. Lindbrook Capital LLC now owns 152 shares of the software maker’s stock valued at $29,000 after acquiring an additional 91 shares during the last quarter. Advisory Alpha LLC acquired a new position in shares of Workday during the 1st quarter valued at about $30,000. Meeder Asset Management Inc. acquired a new position in shares of Workday during the 1st quarter valued at about $31,000. Finally, Strategy Asset Managers LLC acquired a new position in shares of Workday during the 1st quarter valued at about $31,000. 66.15% of the stock is currently owned by hedge funds and other institutional investors.

Workday stock traded down $3.23 during midday trading on Friday, reaching $200.63. The company’s stock had a trading volume of 503,796 shares, compared to its average volume of 1,261,154. Workday Inc has a fifty-two week low of $117.72 and a fifty-two week high of $226.83. The company has a quick ratio of 1.09, a current ratio of 1.09 and a debt-to-equity ratio of 0.60. The company’s 50 day simple moving average is $213.35. The company has a market capitalization of $45.22 billion, a price-to-earnings ratio of -164.45 and a beta of 1.56.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, May 28th. The software maker reported ($0.26) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.03). Workday had a negative net margin of 15.19% and a negative return on equity of 14.92%. The business had revenue of $825.10 million during the quarter, compared to analyst estimates of $814.21 million. During the same period last year, the business posted $0.33 EPS. Workday’s revenue was up 33.2% compared to the same quarter last year. As a group, equities analysts predict that Workday Inc will post -1.06 EPS for the current year.

A number of research firms have commented on WDAY. Oppenheimer upped their target price on shares of Workday from $216.00 to $225.00 and gave the company an “outperform” rating in a research report on Thursday, May 23rd. Wedbush increased their price target on shares of Workday from $209.00 to $211.00 and gave the stock a “neutral” rating in a research report on Wednesday, May 29th. JPMorgan Chase & Co. increased their price target on shares of Workday from $212.00 to $225.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 29th. KeyCorp restated a “buy” rating and set a $235.00 target price on shares of Workday in a research note on Wednesday, May 22nd. Finally, Stifel Nicolaus upped their target price on shares of Workday from $175.00 to $195.00 and gave the stock a “hold” rating in a research note on Wednesday, May 29th. Six investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twenty have issued a buy rating to the company. The stock currently has a consensus rating of “Hold” and an average price target of $206.32.

In related news, Director David A. Duffield sold 1,054 shares of Workday stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $205.21, for a total transaction of $216,291.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Aneel Bhusri sold 300,000 shares of Workday stock in a transaction dated Tuesday, June 4th. The stock was sold at an average price of $193.14, for a total value of $57,942,000.00. The disclosure for this sale can be found here. In the last 90 days, insiders sold 757,346 shares of company stock valued at $154,821,963. Company insiders own 29.80% of the company’s stock.

About Workday

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and 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, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

See Also: Hedge Funds

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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