Sei Investments Co. Buys 34,819 Shares of Workday, Inc. $WDAY

Sei Investments Co. boosted its stake in Workday, Inc. (NASDAQ:WDAY) by 5.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 735,808 shares of the software maker’s stock after purchasing an additional 34,819 shares during the quarter. Sei Investments Co. owned about 0.28% of Workday worth $176,594,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of the company. Norges Bank acquired a new position in shares of Workday in the 2nd quarter valued at approximately $442,702,000. T. Rowe Price Investment Management Inc. increased its stake in Workday by 47.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock valued at $879,147,000 after acquiring an additional 1,211,659 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Workday by 35.6% during 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 purchasing an additional 913,613 shares in the last quarter. Generation Investment Management LLP lifted its stake in Workday by 36.6% during the first quarter. Generation Investment Management LLP now owns 2,903,767 shares of the software maker’s stock worth $678,117,000 after purchasing an additional 778,301 shares during the last quarter. Finally, Parnassus Investments LLC boosted its holdings in shares of Workday by 22.4% in the 1st quarter. Parnassus Investments LLC now owns 2,996,429 shares of the software maker’s stock valued at $699,756,000 after purchasing an additional 548,694 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on WDAY shares. Raymond James Financial initiated coverage on Workday in a report on Friday, November 21st. They set a “market perform” rating for the company. Evercore ISI lifted their target price on Workday from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. DA Davidson dropped their target price on shares of Workday from $260.00 to $250.00 and set a “hold” rating for the company in a report on Wednesday, November 26th. Oppenheimer restated an “outperform” rating on shares of Workday in a research note on Wednesday, November 26th. Finally, Royal Bank Of Canada decreased their price target on shares of Workday from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and twelve have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $282.13.

Workday Stock Performance

Shares of WDAY stock opened at $222.75 on Thursday. The firm has a market capitalization of $58.58 billion, a price-to-earnings ratio of 93.59, a PEG ratio of 2.68 and a beta of 1.15. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. The business’s 50-day moving average price is $229.42 and its 200-day moving average price is $232.93. Workday, Inc. has a 12 month low of $205.33 and a 12 month high of $283.68.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter last year, the business earned $1.89 EPS. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. Equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity

In related news, Director Michael M. Mcnamara sold 5,393 shares of the stock in a transaction on 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 in the company, valued at $5,662,182.48. This represents a 18.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $232.62, for a total value of $1,395,720.00. Following the transaction, the chief financial officer directly owned 168,468 shares of the company’s stock, valued at approximately $39,189,026.16. This represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders have sold 345,798 shares of company stock valued at $78,617,754. 19.31% of the stock is currently owned by company insiders.

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.