Strategic Planning Inc. Purchases New Position in Workday, Inc. $WDAY

Strategic Planning Inc. acquired a new position in Workday, Inc. (NASDAQ:WDAY) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 45,328 shares of the software maker’s stock, valued at approximately $5,889,000. Workday comprises approximately 3.0% of Strategic Planning Inc.’s holdings, making the stock its 9th largest position.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new stake in Workday in the second quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Workday during the 3rd quarter worth $26,000. DT Investment Partners LLC acquired a new position in shares of Workday during the 4th quarter worth $27,000. LRI Investments LLC bought a new position in shares of Workday during the 4th quarter valued at $29,000. Finally, JPL Wealth Management LLC bought a new position in shares of Workday during the 3rd quarter valued at $30,000. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In other news, insider Gerrit S. Kazmaier sold 2,728 shares of Workday stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total value of $391,795.36. Following the transaction, the insider directly owned 266,388 shares in the company, valued at approximately $38,258,644.56. The trade was a 1.01% decrease in their ownership of the stock. The transaction was disclosed in a document filed 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 business’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the transaction, the chief financial officer directly owned 288,460 shares of the company’s stock, valued at $41,451,702. This represents a 2.04% decrease in their position. 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 sold a total of 875,020 shares of company stock valued at $113,938,503 in the last quarter. Insiders own 18.64% of the company’s stock.

Workday Price Performance

NASDAQ WDAY opened at $159.69 on Wednesday. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The company has a fifty day simple moving average of $134.11 and a 200 day simple moving average of $140.56. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market cap of $39.44 billion, a P/E ratio of 49.90, a P/E/G ratio of 1.57 and a beta of 1.11.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.23 EPS. On average, sell-side analysts predict that Workday, Inc. will post 5.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on WDAY shares. BMO Capital Markets reiterated an “outperform” rating on shares of Workday in a report on Friday, May 22nd. BTIG Research restated a “buy” rating and set a $175.00 target price on shares of Workday in a report on Monday, May 18th. CLSA assumed coverage on Workday in a research report on Monday, July 20th. They issued an “underperform” rating and a $92.00 price target for the company. Wolfe Research reiterated an “outperform” rating and set a $160.00 price target on shares of Workday in a research note on Friday, May 22nd. Finally, DA Davidson set a $135.00 price objective on Workday in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $179.80.

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.