Wasatch Advisors LP Grows Position in Workday, Inc. (NASDAQ:WDAY)

Wasatch Advisors LP boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 6.6% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,316 shares of the software maker’s stock after purchasing an additional 391 shares during the period. Wasatch Advisors LP’s holdings in Workday were worth $1,723,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Beacon Capital Management LLC lifted its stake in Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 70 shares during the period. VisionPoint Advisory Group LLC lifted its stake in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares during the period. Exchange Traded Concepts LLC lifted its stake in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after acquiring an additional 105 shares during the period. Sound Income Strategies LLC lifted its stake in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after acquiring an additional 49 shares during the period. Finally, CVA Family Office LLC acquired a new stake in Workday during the 4th quarter valued at approximately $33,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity

In other news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, April 5th. The shares were sold at an average price of $268.12, for a total value of $15,014,720.00. Following the completion of the transaction, the insider now owns 899,000 shares of the company’s stock, valued at $241,039,880. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. In related news, insider Richard Harry Sauer sold 8,447 shares of Workday stock in a transaction that occurred on Monday, April 8th. The shares were sold at an average price of $268.21, for a total value of $2,265,569.87. Following the completion of the transaction, the insider now owns 66,356 shares in the company, valued at $17,797,342.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, April 5th. The stock was sold at an average price of $268.12, for a total transaction of $15,014,720.00. Following the completion of the transaction, the insider now owns 899,000 shares of the company’s stock, valued at approximately $241,039,880. The disclosure for this sale can be found here. Over the last quarter, insiders sold 384,551 shares of company stock valued at $91,847,903. 20.00% of the stock is currently owned by company insiders.

Workday Trading Up 0.9 %

Shares of WDAY traded up $2.04 during mid-day trading on Tuesday, reaching $226.76. The stock had a trading volume of 1,715,271 shares, compared to its average volume of 2,217,563. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00. Workday, Inc. has a 52-week low of $202.01 and a 52-week high of $311.28. The business’s fifty day moving average is $231.92 and its 200 day moving average is $262.87. The firm has a market cap of $60.09 billion, a price-to-earnings ratio of 40.75, a P/E/G ratio of 5.64 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The firm had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. Workday’s quarterly revenue was up 18.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.16 earnings per share. On average, sell-side analysts predict that Workday, Inc. will post 2.12 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have commented on WDAY. Barclays decreased their price objective on shares of Workday from $316.00 to $286.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Needham & Company LLC reiterated a “buy” rating and issued a $350.00 target price on shares of Workday in a research note on Friday, May 24th. Bank of America decreased their target price on shares of Workday from $330.00 to $310.00 and set a “buy” rating for the company in a research note on Thursday, May 16th. KeyCorp decreased their target price on shares of Workday from $330.00 to $275.00 and set an “overweight” rating for the company in a research note on Friday, May 24th. Finally, Royal Bank of Canada decreased their target price on shares of Workday from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $282.11.

About Workday

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.