Workday, Inc. $WDAY Shares Bought by Van Den Berg Management I Inc.

Van Den Berg Management I Inc. grew its stake in Workday, Inc. (NASDAQ:WDAY) by 119.9% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 37,898 shares of the software maker’s stock after buying an additional 20,664 shares during the quarter. Van Den Berg Management I Inc.’s holdings in Workday were worth $4,924,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in WDAY. Norges Bank purchased a new stake in Workday during the fourth quarter worth approximately $448,804,000. Harvest Fund Management Co. Ltd increased its stake in Workday by 40.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock valued at $11,943,000 after purchasing an additional 15,903 shares during the last quarter. Aurora Investment Counsel purchased a new position in Workday in the fourth quarter valued at approximately $2,357,000. Robeco Institutional Asset Management B.V. raised its holdings in Workday by 18.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock worth $122,804,000 after purchasing an additional 88,384 shares in the last quarter. Finally, Morningstar Investment Management LLC raised its holdings in Workday by 127.2% during the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after purchasing an additional 15,138 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Up 5.8%

NASDAQ WDAY opened at $135.34 on Friday. The stock has a market capitalization of $33.43 billion, a P/E ratio of 42.29, a P/E/G ratio of 1.36 and a beta of 1.11. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85. The firm has a 50-day moving average price of $133.13 and a 200 day moving average price of $141.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the firm earned $2.23 earnings per share. The firm’s revenue was up 13.5% compared to the same quarter last year. Equities research analysts expect that Workday, Inc. will post 5.38 EPS for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total value of $13,119,300.00. Following the sale, the insider directly owned 105,049 shares in the company, valued at $12,820,179.96. The trade was a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Enslin sold 5,374 shares of the company’s stock in a transaction on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total value of $724,952.60. Following the transaction, the insider directly owned 239,469 shares in the company, valued at $32,304,368.10. This represents a 2.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 875,020 shares of company stock valued at $113,938,503. Corporate insiders own 18.64% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WDAY. Wells Fargo & Company boosted their price objective on shares of Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Jefferies Financial Group increased their target price on shares of Workday from $115.00 to $140.00 and gave the company a “hold” rating in a research report on Friday, May 22nd. TD Cowen reiterated a “hold” rating on shares of Workday in a research note on Friday, May 22nd. William Blair raised shares of Workday to a “strong-buy” rating in a research report on Friday, May 22nd. Finally, The Goldman Sachs Group decreased their price objective on shares of Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.80.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.