Rakuten Investment Management Inc. Buys 3,816 Shares of Workday, Inc. $WDAY

Rakuten Investment Management Inc. grew its stake in Workday, Inc. (NASDAQ:WDAY) by 7.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 53,080 shares of the software maker’s stock after buying an additional 3,816 shares during the period. Rakuten Investment Management Inc.’s holdings in Workday were worth $10,041,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. First Trust Advisors LP raised its position in shares of Workday by 9.6% during the 1st quarter. First Trust Advisors LP now owns 1,416,176 shares of the software maker’s stock valued at $183,990,000 after buying an additional 124,524 shares in the last quarter. Tidal Investments LLC lifted its holdings in shares of Workday by 43.6% during the 2nd quarter. Tidal Investments LLC now owns 1,439,456 shares of the software maker’s stock worth $176,218,000 after acquiring an additional 437,175 shares during the last quarter. Pacer Advisors Inc. grew its position in Workday by 60.4% in the first quarter. Pacer Advisors Inc. now owns 1,227,051 shares of the software maker’s stock worth $159,418,000 after acquiring an additional 462,002 shares in the last quarter. Temasek Holdings Private Ltd grew its position in Workday by 9.5% in the first quarter. Temasek Holdings Private Ltd now owns 889,318 shares of the software maker’s stock worth $115,540,000 after acquiring an additional 77,330 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in Workday by 211.1% in the third quarter. Robeco Institutional Asset Management B.V. now owns 485,836 shares of the software maker’s stock worth $92,532,000 after acquiring an additional 329,687 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Trading Down 0.8%

Shares of WDAY opened at $200.17 on Friday. The firm has a market cap of $48.24 billion, a price-to-earnings ratio of 40.60, a PEG ratio of 2.03 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $236.80. The firm has a 50 day moving average price of $194.34 and a 200-day moving average price of $156.43.

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

Analysts Set New Price Targets

A number of research analysts recently commented on WDAY shares. CLSA started coverage on Workday in a research note on Monday, July 20th. They issued an “underperform” rating and a $92.00 target price on the stock. Capital One Financial dropped their price target on Workday from $203.00 to $202.00 and set an “equal weight” rating for the company in a research note on Wednesday, October 14th. Wall Street Zen raised Workday from a “hold” rating to a “buy” rating in a research note on Saturday, September 5th. Loop Capital upped their price objective on Workday from $135.00 to $200.00 and gave the stock a “hold” rating in a report on Friday, August 21st. Finally, The Goldman Sachs Group increased their price objective on Workday from $151.00 to $164.00 and gave the company a “neutral” rating in a research report on Monday, August 31st. Twenty-two equities research analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $202.10.

Insider Buying and Selling at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction dated 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 sale, the chief financial officer directly owned 269,642 shares in the company, valued at $50,485,071.66. This represents a 2.18% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at 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, insider Robert Enslin sold 5,374 shares of the firm’s stock in a transaction dated Monday, October 5th. The shares were sold at an average price of $187.00, for a total value of $1,004,938.00. Following the transaction, the insider directly owned 226,233 shares in the company, valued at $42,305,571. This trade represents a 2.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 sold 988,104 shares of company stock valued at $188,811,574. 18.64% of the stock is currently owned by insiders.

Workday Company Profile

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company’s products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.