Workday, Inc. $WDAY Shares Bought by Empowered Funds LLC

Empowered Funds LLC increased its position in Workday, Inc. (NASDAQ:WDAY) by 395.4% in the 1st quarter, Holdings Channel reports. The firm owned 107,880 shares of the software maker’s stock after buying an additional 86,105 shares during the period. Empowered Funds LLC’s holdings in Workday were worth $14,016,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in Workday during the 4th quarter worth $448,804,000. Harvest Fund Management Co. Ltd raised its holdings in shares of 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 buying an additional 15,903 shares during the last quarter. Aurora Investment Counsel purchased a new stake in shares of Workday in the fourth quarter valued at about $2,357,000. Robeco Institutional Asset Management B.V. boosted its stake in shares of 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 buying an additional 88,384 shares during the period. Finally, Morningstar Investment Management LLC boosted its stake in shares of 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 buying an additional 15,138 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Up 5.2%

NASDAQ WDAY opened at $168.01 on Thursday. The stock has a market capitalization of $41.50 billion, a P/E ratio of 52.50, a P/E/G ratio of 1.70 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 $134.94 and a 200 day moving average price of $140.27. 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.

Insiders Place Their Bets

In related news, 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 transaction of $724,952.60. Following the transaction, the insider owned 239,469 shares of the company’s stock, valued at $32,304,368.10. This represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. 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. Also, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $136.74, for a total value of $14,699,550.00. Following the completion of the transaction, the insider owned 105,049 shares of the company’s stock, valued at $14,364,400.26. The trade was a 50.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 875,020 shares of company stock worth $113,938,503. Corporate insiders own 18.64% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently issued reports on WDAY. Summit Redstone set a $275.00 price target on Workday in a research report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Workday in a research report on Wednesday, June 17th. HC Wainwright set a $140.00 target price on Workday in a research note on Wednesday, May 27th. Bank of America started coverage on Workday in a report on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 target price on the stock. Finally, BMO Capital Markets restated an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.80.

Workday Company Profile

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.