Janney Montgomery Scott LLC Raises Stake in Workday, Inc. $WDAY

Janney Montgomery Scott LLC raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 251.9% during the first quarter, Holdings Channel reports. The fund owned 7,915 shares of the software maker’s stock after buying an additional 5,666 shares during the period. Janney Montgomery Scott LLC’s holdings in Workday were worth $1,028,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC raised its position in Workday by 230.2% in the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after purchasing an additional 2,792 shares during the period. Empowered Funds LLC increased its holdings in shares of Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after buying an additional 1,206 shares during the period. Geneos Wealth Management Inc. increased its holdings in shares of Workday by 211.7% in the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after buying an additional 127 shares during the period. Sivia Capital Partners LLC bought a new stake in shares of Workday in the 2nd quarter valued at about $281,000. Finally, NewEdge Advisors LLC lifted its stake in shares of Workday by 32.0% in the 2nd quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock valued at $1,583,000 after acquiring an additional 1,600 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction that occurred on Monday, July 6th. The stock was sold at an average price of $135.24, for a total transaction of $14,538,300.00. Following the transaction, the insider owned 105,049 shares in the company, valued at approximately $14,206,826.76. This represents a 50.58% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 2,728 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total value of $391,795.36. Following the completion of the transaction, the insider directly owned 266,388 shares of the company’s stock, valued at $38,258,644.56. This represents a 1.01% 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. In the last 90 days, insiders sold 766,602 shares of company stock valued at $99,108,423. Insiders own 18.64% of the company’s stock.

Workday Price Performance

Shares of Workday stock opened at $138.95 on Monday. 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’s fifty day simple moving average is $129.78 and its two-hundred day simple moving average is $146.63. The company has a market cap of $34.32 billion, a P/E ratio of 43.42, a PEG ratio of 1.49 and a beta of 1.11. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85.

Workday (NASDAQ:WDAY) last posted 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 during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same period last year, the company posted $2.23 EPS. Research analysts anticipate that Workday, Inc. will post 5.34 EPS for the current year.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on WDAY shares. DA Davidson set a $135.00 price target on Workday in a research report on Tuesday, May 26th. Oppenheimer restated an “outperform” rating on shares of Workday in a report on Thursday, June 11th. Citigroup reaffirmed a “market perform” rating on shares of Workday in a research note on Friday, May 22nd. Piper Sandler upped their price target on shares of Workday from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Finally, Wells Fargo & Company boosted their price objective on shares of Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $184.00.

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.