Phoenix Financial Ltd. Acquires New Holdings in Workday, Inc. $WDAY

Phoenix Financial Ltd. bought a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 8,307 shares of the software maker’s stock, valued at approximately $2,000,000.

Several other large investors have also recently bought and sold shares of the company. Verdence Capital Advisors LLC increased its holdings in shares of Workday by 1.0% in the second quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock worth $1,051,000 after purchasing an additional 45 shares during the period. Perennial Investment Advisors LLC grew its position in Workday by 2.8% during the second quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock worth $418,000 after buying an additional 48 shares in the last quarter. Johnson Investment Counsel Inc. grew its position in Workday by 2.3% during the second quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock worth $528,000 after buying an additional 49 shares in the last quarter. Bay Harbor Wealth Management LLC increased its stake in Workday by 12.0% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock worth $110,000 after acquiring an additional 49 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Workday by 1.2% in the 3rd quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock valued at $994,000 after acquiring an additional 49 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Transactions at Workday

In other news, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $210.00, for a total value of $656,250.00. Following the sale, the chief executive officer directly owned 17,097 shares in the company, valued at approximately $3,590,370. This trade represents a 15.45% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gerrit S. Kazmaier sold 6,547 shares of the company’s stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $218.77, for a total value of $1,432,287.19. Following the transaction, the insider owned 111,353 shares of the company’s stock, valued at approximately $24,360,695.81. This represents a 5.55% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 370,321 shares of company stock valued at $78,866,401. Company insiders own 20.00% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $188.58 on Wednesday. The company has a 50-day simple moving average of $210.90 and a two-hundred day simple moving average of $224.42. Workday, Inc. has a 12-month low of $180.56 and a 12-month high of $283.68. The firm has a market cap of $49.60 billion, a price-to-earnings ratio of 79.24, a PEG ratio of 2.15 and a beta of 1.14. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the business earned $1.89 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. On average, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Ratings Changes

Several research firms recently weighed in on WDAY. JPMorgan Chase & Co. decreased their price objective on shares of Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. DA Davidson decreased their price target on shares of Workday from $260.00 to $250.00 and set a “hold” rating on the stock in a report on Wednesday, November 26th. Citizens Jmp reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Workday in a report on Wednesday, November 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of Workday in a research note on Wednesday, November 26th. Finally, UBS Group set a $260.00 price target on Workday in a research note on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $278.09.

About Workday

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.