10,680 Shares in Workday, Inc. $WDAY Acquired by Weiss Asset Management LP

Weiss Asset Management LP bought a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,680 shares of the software maker’s stock, valued at approximately $1,388,000.

Several other large investors also recently modified their holdings of WDAY. Rakuten Securities Inc. acquired a new stake in shares of Workday during the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC bought a new position in Workday in the third quarter valued at approximately $26,000. DT Investment Partners LLC acquired a new position in Workday during the fourth quarter valued at approximately $27,000. LRI Investments LLC bought a new stake in Workday during the fourth quarter worth $29,000. Finally, JPL Wealth Management LLC bought a new stake in Workday during the third quarter worth $30,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In other news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction 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 approximately $41,451,702. This trade represents a 2.04% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the transaction, the insider owned 105,049 shares in the company, valued at approximately $12,820,179.96. This trade represents a 50.58% 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. In the last ninety days, insiders sold 875,020 shares of company stock worth $113,938,503. 18.64% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WDAY shares. Jefferies Financial Group raised their target price on Workday from $115.00 to $140.00 and gave the company a “hold” rating in a report on Friday, May 22nd. Piper Sandler upped their price objective on Workday from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. DA Davidson set a $135.00 price objective on Workday in a research note on Tuesday, May 26th. KeyCorp lifted their target price on Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Finally, Bank of America assumed coverage on Workday in a research note on Wednesday, May 27th. They set a “neutral” rating and a $140.00 target price for the company. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.80.

Workday Stock Performance

NASDAQ:WDAY opened at $147.54 on Tuesday. The stock’s 50-day moving average is $133.51 and its 200-day moving average is $140.92. Workday, Inc. has a 1-year low of $110.36 and a 1-year 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 stock has a market cap of $36.44 billion, a P/E ratio of 46.11, a price-to-earnings-growth ratio of 1.44 and a beta of 1.11.

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