Lavelle Capital LP Takes Position in Workday, Inc. $WDAY

Lavelle Capital LP acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 7,140 shares of the software maker’s stock, valued at approximately $928,000.

Other hedge funds have also modified their holdings of the company. Rakuten Securities Inc. acquired a new stake in Workday in the 2nd quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC acquired a new position in Workday during the 3rd quarter worth approximately $26,000. DT Investment Partners LLC acquired a new position in Workday during the 4th quarter worth approximately $27,000. LRI Investments LLC bought a new position in shares of Workday during the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC bought a new position in shares of Workday during the 3rd quarter worth approximately $30,000. 89.81% of the stock is currently owned by institutional investors.

Insider Activity

In other news, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $122.04, for a total value of $13,119,300.00. Following the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $12,820,179.96. This represents a 50.58% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Enslin sold 5,374 shares of the firm’s stock in a transaction dated Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the sale, the insider owned 239,469 shares of the company’s stock, valued at $32,304,368.10. This trade represents a 2.19% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 875,020 shares of company stock valued at $113,938,503 in the last quarter. Company insiders own 18.64% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Wolfe Research reiterated an “outperform” rating and issued a $160.00 price objective on shares of Workday in a report on Friday, May 22nd. William Blair upgraded shares of Workday to a “strong-buy” rating in a report on Friday, May 22nd. Summit Redstone set a $275.00 target price on shares of Workday in a research report on Wednesday, May 27th. Citigroup reissued a “market perform” rating on shares of Workday in a research report on Friday, May 22nd. Finally, UBS Group increased their price objective on shares of Workday from $130.00 to $140.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $179.80.

Workday Price Performance

NASDAQ:WDAY opened at $160.34 on Friday. 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 firm has a fifty day simple moving average of $136.31 and a 200 day simple moving average of $140.07. The stock has a market capitalization of $39.60 billion, a PE ratio of 50.11, a P/E/G ratio of 1.71 and a beta of 1.11.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the company earned $2.23 earnings per share. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. On average, research analysts expect that Workday, Inc. will post 5.38 EPS 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.