Sienna Gestion Invests $7.95 Million in Workday, Inc. $WDAY

Sienna Gestion purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor purchased 36,214 shares of the software maker’s stock, valued at approximately $7,948,000.

Several other hedge funds have also added to or reduced their stakes in the company. Rakuten Securities Inc. bought a new stake in Workday during the 2nd quarter worth about $25,000. Berbice Capital Management LLC boosted its stake in shares of Workday by 136.4% in the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after purchasing an additional 75 shares during the last quarter. Golden State Wealth Management LLC grew its position in shares of Workday by 2,216.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock worth $33,000 after buying an additional 133 shares during the period. Root Financial Partners LLC acquired a new stake in shares of Workday during the 3rd quarter worth approximately $40,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Workday during the second quarter worth approximately $41,000. Institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $134.40, for a total transaction of $14,448,000.00. Following the completion of the sale, the insider owned 105,049 shares of the company’s stock, valued at $14,118,585.60. This represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Robert Enslin sold 22,185 shares of the firm’s stock in a transaction on Monday, January 5th. The stock was sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the sale, the insider owned 106,330 shares in the company, valued at approximately $22,347,376.10. The trade was a 17.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 395,796 shares of company stock valued at $75,909,516. 20.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. UBS Group lowered their target price on shares of Workday from $170.00 to $130.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Guggenheim decreased their price objective on Workday from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Morgan Stanley cut their target price on Workday from $280.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Monday, February 23rd. BTIG Research reduced their target price on Workday from $230.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Finally, KeyCorp lowered their price target on Workday from $260.00 to $155.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Twenty investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $205.19.

Workday Trading Up 2.6%

NASDAQ WDAY opened at $151.04 on Monday. The firm has a market cap of $39.72 billion, a P/E ratio of 58.54, a P/E/G ratio of 1.47 and a beta of 1.17. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.83. The stock’s 50-day moving average is $172.17 and its 200-day moving average is $208.84. Workday, Inc. has a one year low of $117.76 and a one year high of $276.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the firm earned $1.92 EPS. Workday’s quarterly revenue was up 14.5% compared to the same quarter last year. Sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.