Prudential PLC Grows Stock Holdings in Workday, Inc. $WDAY

Prudential PLC lifted its position in Workday, Inc. (NASDAQ:WDAY) by 2.9% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 18,821 shares of the software maker’s stock after buying an additional 535 shares during the quarter. Prudential PLC’s holdings in Workday were worth $4,517,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Nuveen LLC purchased a new position in shares of Workday in the first quarter valued at approximately $456,341,000. T. Rowe Price Investment Management Inc. increased its position in shares of Workday by 47.5% during the first quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock worth $879,147,000 after acquiring an additional 1,211,659 shares during the period. Hotchkis & Wiley Capital Management LLC raised its stake in shares of Workday by 35.6% in the first quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker’s stock valued at $812,475,000 after acquiring an additional 913,613 shares in the last quarter. Generation Investment Management LLP boosted its holdings in Workday by 36.6% in the first quarter. Generation Investment Management LLP now owns 2,903,767 shares of the software maker’s stock valued at $678,117,000 after purchasing an additional 778,301 shares during the period. Finally, Parnassus Investments LLC increased its holdings in Workday by 22.4% during the 1st quarter. Parnassus Investments LLC now owns 2,996,429 shares of the software maker’s stock worth $699,756,000 after purchasing an additional 548,694 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WDAY. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, September 17th. Canaccord Genuity Group decreased their price target on shares of Workday from $330.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. TD Cowen lowered their price target on shares of Workday from $310.00 to $290.00 and set a “buy” rating for the company in a report on Wednesday, September 17th. Raymond James Financial initiated coverage on shares of Workday in a report on Friday. They issued a “market perform” rating on the stock. Finally, Royal Bank Of Canada reiterated an “outperform” rating and set a $340.00 target price on shares of Workday in a research note on Wednesday, September 17th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-three have issued a Buy rating and eleven have issued a Hold rating to the stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.86.

Workday Trading Up 3.8%

Shares of Workday stock opened at $225.14 on Friday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. The company has a fifty day simple moving average of $233.97 and a 200-day simple moving average of $237.18. The stock has a market cap of $60.11 billion, a price-to-earnings ratio of 104.23, a PEG ratio of 2.70 and a beta of 1.11. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share for the quarter, beating analysts’ consensus estimates of $2.09 by $0.12. The firm had revenue of $2.35 billion during the quarter, compared to analysts’ expectations of $2.34 billion. Workday had a net margin of 6.51% and a return on equity of 9.74%. Workday’s quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the previous year, the company earned $1.75 earnings per share. On average, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, Director Michael M. Mcnamara sold 5,393 shares of the company’s stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $235.16, for a total value of $1,268,217.88. Following the completion of the sale, the director directly owned 24,078 shares of the company’s stock, valued at $5,662,182.48. This represents a 18.30% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 1,915 shares of the firm’s stock in a transaction that occurred on Thursday, October 9th. The stock was sold at an average price of $238.96, for a total value of $457,608.40. Following the transaction, the chief accounting officer owned 37,351 shares in the company, valued at $8,925,394.96. This represents a 4.88% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 264,933 shares of company stock worth $61,475,760. Corporate insiders own 19.31% 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.