Jefferies Financial Group Inc. Grows Stake in Workday, Inc. $WDAY

Jefferies Financial Group Inc. raised its position in shares of Workday, Inc. (NASDAQ:WDAY) by 50.2% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 18,187 shares of the software maker’s stock after purchasing an additional 6,079 shares during the period. Jefferies Financial Group Inc.’s holdings in Workday were worth $4,378,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also made changes to their positions in WDAY. Perennial Investment Advisors LLC grew its position in shares of Workday by 2.8% during the 2nd 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. Bay Harbor Wealth Management LLC raised its holdings in shares of Workday by 12.0% in the third quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock valued at $110,000 after acquiring an additional 49 shares in the last quarter. Farther Finance Advisors LLC lifted its stake in Workday by 1.2% in the third quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock worth $994,000 after acquiring an additional 49 shares during the period. Kingsview Wealth Management LLC lifted its stake in Workday by 1.1% in the second quarter. Kingsview Wealth Management LLC now owns 4,544 shares of the software maker’s stock worth $1,091,000 after acquiring an additional 50 shares during the period. Finally, Strategic Investment Advisors MI grew its holdings in Workday by 1.6% during the 2nd quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock worth $777,000 after acquiring an additional 50 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Down 1.9%

NASDAQ:WDAY opened at $148.14 on Tuesday. The company’s 50-day simple moving average is $170.76 and its 200-day simple moving average is $208.28. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.83 and a current ratio of 1.32. Workday, Inc. has a fifty-two week low of $117.76 and a fifty-two week high of $276.00. The stock has a market capitalization of $38.96 billion, a P/E ratio of 57.42, a P/E/G ratio of 1.47 and a beta of 1.17.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, topping the consensus estimate of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the previous year, the business posted $1.92 EPS. Workday’s revenue was up 14.5% on a year-over-year basis. On average, equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Gerrit S. Kazmaier sold 6,547 shares of the company’s stock in a transaction on Friday, December 19th. The stock was sold at an average price of $218.77, for a total transaction of $1,432,287.19. Following the transaction, the insider directly owned 111,353 shares of the company’s stock, valued at approximately $24,360,695.81. This represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction on Monday, January 5th. The shares were sold at an average price of $210.00, for a total value of $656,250.00. Following the sale, the chief executive officer owned 17,097 shares of the company’s stock, valued at approximately $3,590,370. This represents a 15.45% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 503,296 shares of company stock valued at $91,729,216. 20.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several equities research analysts have recently commented on WDAY shares. Sanford C. Bernstein reduced their price target on shares of Workday from $298.00 to $214.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Raymond James Financial reiterated a “market perform” rating on shares of Workday in a research note on Monday, February 9th. Barclays cut their price objective on shares of Workday from $230.00 to $200.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Workday from $265.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Finally, Citigroup lowered their target price on Workday from $247.00 to $148.00 and set a “neutral” rating for the company in a report on Thursday, February 26th. Twenty equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $205.19.

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.