VestGen Advisors LLC Acquires New Shares in Workday, Inc. $WDAY

VestGen Advisors LLC bought a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the 3rd quarter, HoldingsChannel reports. The firm bought 62,456 shares of the software maker’s stock, valued at approximately $11,895,000.

A number of other institutional investors and hedge funds have also modified their holdings of the business. Lakehouse Capital Pty Ltd lifted its position in Workday by 77.9% during the third quarter. Lakehouse Capital Pty Ltd now owns 43,773 shares of the software maker’s stock valued at $8,337,000 after purchasing an additional 19,174 shares during the period. Plato Investment Management Ltd purchased a new stake in Workday in the second quarter worth approximately $1,115,000. S&CO Inc. purchased a new stake in Workday in the second quarter worth approximately $2,284,000. Sapient Capital LLC purchased a new stake in Workday in the second quarter worth approximately $13,045,000. Finally, Bank Pictet & Cie Europe AG grew its position in Workday by 8.1% in the 3rd quarter. Bank Pictet & Cie Europe AG now owns 77,362 shares of the software maker’s stock worth $14,734,000 after purchasing an additional 5,811 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

WDAY opened at $204.36 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $49.25 billion, a price-to-earnings ratio of 41.45, a PEG ratio of 2.11 and a beta of 1.07. The company has a fifty day moving average of $194.12 and a 200 day moving average of $156.41. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $241.32.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%. The business had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the previous year, the company posted $2.21 EPS. The company’s revenue was up 12.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Workday, Inc. will post 5.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

WDAY has been the topic of several research analyst reports. BNP Paribas Exane increased their price target on Workday from $160.00 to $220.00 and gave the company an “outperform” rating in a report on Friday, August 28th. Lake Street Capital set a $205.00 price objective on Workday in a research report on Friday, August 14th. Robert W. Baird increased their target price on Workday from $190.00 to $215.00 and gave the company an “outperform” rating in a report on Friday, August 14th. Barclays increased their target price on Workday from $200.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, August 28th. Finally, Bank of America raised their target price on Workday from $140.00 to $205.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 19th. Twenty-two research analysts have rated the stock with a Buy rating, twenty have given a Hold rating and two have given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $202.10.

Insider Buying and Selling

In related news, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction on Tuesday, October 6th. The stock was sold at an average price of $187.23, for a total transaction of $1,123,380.00. Following the completion of the transaction, the chief financial officer owned 269,642 shares in the company, valued at $50,485,071.66. The trade was a 2.18% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 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, insider Robert Enslin sold 5,374 shares of the business’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $187.00, for a total transaction of $1,004,938.00. Following the completion of the sale, the insider directly owned 226,233 shares of the company’s stock, valued at approximately $42,305,571. This trade represents a 2.32% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold 988,104 shares of company stock valued at $188,811,574 over the last 90 days. 18.64% of the stock is currently owned by insiders.

About Workday

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company’s products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.