Rakuten Investment Management Inc. Acquires New Holdings in Workday, Inc. $WDAY

Rakuten Investment Management Inc. acquired a new position in Workday, Inc. (NASDAQ:WDAY) in the 3rd quarter, Holdings Channel reports. The institutional investor acquired 518,083 shares of the software maker’s stock, valued at approximately $124,718,000. Workday accounts for 0.4% of Rakuten Investment Management Inc.’s holdings, making the stock its 20th biggest position.

Several other large investors have also recently bought and sold shares of the stock. Brighton Jones LLC boosted its holdings in shares of Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after acquiring an additional 2,792 shares in the last quarter. Empowered Funds LLC lifted its position in Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after purchasing an additional 1,206 shares during the period. Geneos Wealth Management Inc. boosted its stake in Workday by 211.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after purchasing an additional 127 shares in the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Workday during the 2nd quarter valued at $281,000. Finally, Farther Finance Advisors LLC raised its stake in shares of Workday by 16.7% in the 2nd quarter. Farther Finance Advisors LLC now owns 4,079 shares of the software maker’s stock worth $979,000 after buying an additional 585 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several research reports. Guggenheim reaffirmed a “buy” rating and set a $285.00 target price on shares of Workday in a research note on Wednesday, November 26th. Citigroup cut their price target on shares of Workday from $261.00 to $247.00 and set a “neutral” rating for the company in a report on Wednesday, November 26th. Loop Capital set a $280.00 price objective on shares of Workday in a research note on Wednesday, December 10th. UBS Group set a $260.00 target price on shares of Workday in a research note on Wednesday, November 26th. Finally, Wells Fargo & Company reduced their target price on shares of Workday from $300.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and thirteen have given a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $278.09.

Workday Stock Performance

Workday stock opened at $182.99 on Wednesday. Workday, Inc. has a fifty-two week low of $180.83 and a fifty-two week high of $283.68. The firm’s 50 day simple moving average is $214.71 and its 200-day simple moving average is $226.07. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83. The company has a market cap of $48.13 billion, a P/E ratio of 76.89, a price-to-earnings-growth ratio of 2.11 and a beta of 1.14.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping 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 firm 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 posted $1.89 EPS. The company’s revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insiders Place Their Bets

In other news, insider Richard Harry Sauer sold 1,130 shares of Workday stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $210.00, for a total transaction of $237,300.00. Following the transaction, the insider owned 85,398 shares in the company, valued at approximately $17,933,580. The trade was a 1.31% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, insider Gerrit S. Kazmaier sold 3,759 shares of the stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $208.73, for a total value of $784,616.07. Following the completion of the sale, the insider directly owned 105,167 shares of the company’s stock, valued at approximately $21,951,507.91. This represents a 3.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 370,321 shares of company stock valued at $78,866,401 over the last quarter. 20.00% of the stock is owned by insiders.

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.