Workday, Inc. $WDAY Stock: Ethic Inc. Boosts Stake

Ethic Inc. raised its position in Workday, Inc. (NASDAQ:WDAY) by 30.0% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 38,119 shares of the software maker’s stock after purchasing an additional 8,790 shares during the quarter. Ethic Inc.’s holdings in Workday were worth $7,260,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in WDAY. Pictet Asset Management Holding SA grew its holdings in shares of Workday by 7.6% during the third quarter. Pictet Asset Management Holding SA now owns 3,033,026 shares of the software maker’s stock worth $577,639,000 after purchasing an additional 213,618 shares during the last quarter. Parallel Advisors LLC increased its stake in shares of Workday by 12.8% in the third quarter. Parallel Advisors LLC now owns 12,610 shares of the software maker’s stock valued at $2,402,000 after buying an additional 1,428 shares during the period. May Hill Capital LLC acquired a new position in shares of Workday in the third quarter valued at approximately $283,000. Waldron Private Wealth LLC raised its holdings in Workday by 4.1% in the 3rd quarter. Waldron Private Wealth LLC now owns 4,033 shares of the software maker’s stock valued at $768,000 after buying an additional 160 shares during the last quarter. Finally, Calamos Advisors LLC raised its holdings in Workday by 2.1% in the 3rd quarter. Calamos Advisors LLC now owns 36,524 shares of the software maker’s stock valued at $6,956,000 after buying an additional 739 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In other Workday news, insider Gerrit Kazmaier sold 2,729 shares of the company’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $187.28, for a total transaction of $511,087.12. Following the transaction, the insider owned 251,314 shares in the company, valued at approximately $47,066,085.92. This represents a 1.07% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. 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. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction on Tuesday, October 6th. The shares were sold at an average price of $187.23, for a total transaction of $1,123,380.00. Following the completion of the transaction, the chief financial officer directly owned 269,642 shares in the company, valued at $50,485,071.66. This trade represents a 2.18% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders have sold a total of 988,104 shares of company stock worth $188,811,574 in the last ninety days. 18.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

A number of brokerages have recently issued reports on WDAY. Daiwa Securities Group raised their price objective on Workday from $170.00 to $230.00 and gave the stock a “buy” rating in a research report on Wednesday, September 9th. Guggenheim reiterated a “buy” rating and issued a $275.00 price objective (down from $285.00) on shares of Workday in a research note on Friday, August 21st. Stifel Nicolaus boosted their target price on shares of Workday from $160.00 to $175.00 and gave the company a “hold” rating in a research report on Thursday, October 15th. Sanford C. Bernstein boosted their target price on shares of Workday from $216.00 to $238.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. Finally, UBS Group set a $175.00 target price on shares of Workday in a research note on Thursday, October 15th. Twenty-two analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $202.10.

Workday Trading Down 1.4%

NASDAQ WDAY opened at $190.21 on Tuesday. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $236.80. The business has a 50 day moving average price of $194.04 and a 200-day moving average price of $156.51. The company has a market cap of $45.84 billion, a price-to-earnings ratio of 32.98, a P/E/G ratio of 2.03 and a beta of 1.02.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period last year, the business earned $2.21 EPS. Workday’s quarterly revenue was up 12.8% compared to the same quarter last year. As a group, equities analysts expect that Workday, Inc. will post 5.32 earnings per share for the current fiscal year.

Workday Company Profile

Workday, Inc develops cloud-based software for managing human resources, finance and business operations. Its products include Workday Human Capital Management, Workday Financial Management and Workday Adaptive Planning, which help organizations manage areas such as workforce administration, accounting, budgeting and forecasting.

Founded in 2005 by Dave Duffield and Aneel Bhusri, Workday serves businesses, governments and educational institutions across a range of industries. Its operations and customer base extend across North America and international markets.

Carl Eschenbach is Workday’s chief executive officer, and co-founder Aneel Bhusri serves as executive chair.