Sapient Capital LLC Invests $13.04 Million in Workday, Inc. $WDAY

Sapient Capital LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 106,557 shares of the software maker’s stock, valued at approximately $13,045,000.

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

Insider Buying and Selling at Workday

In other Workday news, insider Robert Enslin sold 5,374 shares of the business’s stock in a transaction that occurred on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the transaction, the insider owned 239,469 shares in the company, valued at approximately $32,304,368.10. The trade was a 2.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. 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 stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the completion of the transaction, the chief financial officer owned 288,460 shares of the company’s stock, valued at $41,451,702. The trade was a 2.04% decrease in their position. 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. In the last three months, insiders have sold 875,020 shares of company stock valued at $113,938,503. 18.64% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on WDAY. HC Wainwright set a $140.00 target price on shares of Workday in a research note on Wednesday, May 27th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Workday in a report on Friday, May 22nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Workday in a research report on Friday, May 22nd. Citigroup reiterated a “market perform” rating on shares of Workday in a report on Friday, May 22nd. Finally, Morgan Stanley lowered Workday from an “equal weight” rating to an “underweight” rating and cut their target price for the stock from $185.00 to $145.00 in a research report on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $179.80.

Workday Price Performance

WDAY stock opened at $179.64 on Monday. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85. 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 capitalization of $44.37 billion, a P/E ratio of 56.14, a PEG ratio of 1.91 and a beta of 1.08. The business has a 50 day simple moving average of $140.39 and a 200-day simple moving average of $138.86.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday’s quarterly revenue was up 13.5% on a year-over-year basis. During the same period in the previous year, the business posted $2.23 earnings per share. As a group, equities analysts anticipate that Workday, Inc. will post 5.38 EPS for the current year.

Workday Profile

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.