Workday, Inc. $WDAY Stake Increased by Legal & General Group Plc

Legal & General Group Plc increased its stake in Workday, Inc. (NASDAQ:WDAY) by 0.5% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,532,605 shares of the software maker’s stock after buying an additional 6,972 shares during the period. Legal & General Group Plc owned about 0.58% of Workday worth $329,173,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in shares of Workday during the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Workday during the 3rd quarter worth approximately $26,000. LRI Investments LLC acquired a new stake in shares of Workday during the 4th quarter worth approximately $29,000. JPL Wealth Management LLC acquired a new stake in shares of Workday during the 3rd quarter worth approximately $30,000. Finally, Thurston Springer Miller Herd & Titak Inc. acquired a new stake in shares of Workday during the 4th quarter worth approximately $36,000. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $129.76, for a total transaction of $13,949,200.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $13,631,158.24. This trade represents a 50.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 9,356 shares of Workday stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the transaction, the insider owned 165,074 shares in the company, valued at approximately $21,193,850.86. This trade represents a 5.36% 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. Over the last quarter, insiders have sold 989,814 shares of company stock worth $131,576,291. 18.64% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the company. Barclays upgraded Workday from an “overweight” rating to a “buy” rating in a research report on Friday. Wall Street Zen upgraded Workday from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. UBS Group raised their target price on Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a research report on Friday. TD Cowen restated a “hold” rating on shares of Workday in a research report on Friday. Finally, BMO Capital Markets restated an “outperform” rating on shares of Workday in a research report on Friday. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $188.03.

Workday Stock Down 3.2%

WDAY opened at $124.02 on Wednesday. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $257.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.32. The stock has a market cap of $31.87 billion, a P/E ratio of 38.76, a P/E/G ratio of 1.24 and a beta of 1.04. The stock’s 50 day moving average price is $125.61 and its 200 day moving average price is $167.29.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the firm earned $2.23 EPS. The firm’s revenue was up 13.5% compared to the same quarter last year. As a group, research analysts predict that Workday, Inc. will post 5.12 earnings per share for the current year.

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.