Invesco Ltd. Acquires 205,403 Shares of Workday, Inc. $WDAY

Invesco Ltd. grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 10.4% in the 2nd quarter, Holdings Channel.com reports. The firm owned 2,187,137 shares of the software maker’s stock after acquiring an additional 205,403 shares during the period. Invesco Ltd.’s holdings in Workday were worth $524,913,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. AlphaQuest LLC lifted its stake in Workday by 636.7% during the 2nd quarter. AlphaQuest LLC now owns 1,886 shares of the software maker’s stock valued at $453,000 after acquiring an additional 1,630 shares during the period. Norges Bank purchased a new stake in Workday in the second quarter worth approximately $442,702,000. Chicago Capital LLC grew its position in Workday by 2.2% in the 2nd quarter. Chicago Capital LLC now owns 175,802 shares of the software maker’s stock worth $42,193,000 after purchasing an additional 3,824 shares during the period. State of Alaska Department of Revenue grew its position in Workday by 21.1% in the 2nd quarter. State of Alaska Department of Revenue now owns 30,370 shares of the software maker’s stock worth $7,288,000 after purchasing an additional 5,300 shares during the period. Finally, Vanguard Group Inc. raised its stake in Workday by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock valued at $5,067,404,000 after buying an additional 515,529 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have issued reports on the company. Canaccord Genuity Group cut their price target on Workday from $330.00 to $275.00 and set a “buy” rating for the company in a research note on Friday, August 22nd. Stifel Nicolaus reduced their price objective on shares of Workday from $255.00 to $235.00 and set a “hold” rating for the company in a research note on Wednesday, November 26th. Royal Bank Of Canada cut their price target on Workday from $340.00 to $320.00 and set an “outperform” rating for the company in a report on Wednesday, November 26th. Weiss Ratings reaffirmed a “hold (c)” rating on shares of Workday in a report on Wednesday, October 8th. Finally, Morgan Stanley raised their target price on shares of Workday from $255.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and twelve have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $281.16.

Insider Activity

In related news, major shareholder David A. Duffield sold 82,025 shares of the business’s stock in a transaction on Tuesday, December 2nd. The stock was sold at an average price of $212.19, for a total transaction of $17,404,884.75. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at $22,290,347.31. The trade was a 43.85% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael M. Mcnamara sold 5,393 shares of the stock in a transaction on Friday, October 10th. The stock was sold at an average price of $235.16, for a total value of $1,268,217.88. Following the completion of the sale, the director owned 24,078 shares in the company, valued at approximately $5,662,182.48. The trade was a 18.30% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold 346,958 shares of company stock worth $78,880,645 in the last three months. Corporate insiders own 19.31% of the company’s stock.

Workday Stock Up 0.8%

Shares of WDAY opened at $216.62 on Friday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34. The business has a fifty day moving average of $231.04 and a 200 day moving average of $234.36. The company has a market cap of $57.84 billion, a PE ratio of 91.02, a P/E/G ratio of 2.60 and a beta of 1.15. Workday, Inc. has a 52-week low of $205.33 and a 52-week high of $294.00.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.15. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 earnings per share. On average, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.