Junto Capital Management LP Invests $45 Million in Workday, Inc. $WDAY

Junto Capital Management LP acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund acquired 367,587 shares of the software maker’s stock, valued at approximately $45,000,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. Brighton Jones LLC lifted its stake in Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after buying an additional 2,792 shares during the period. Empowered Funds LLC grew its position in shares of Workday by 12.1% during the 1st 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. grew its position in shares of Workday by 211.7% during the 1st 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 increased 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.

Workday Price Performance

NASDAQ WDAY opened at $186.05 on Thursday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $44.84 billion, a price-to-earnings ratio of 37.74, a PEG ratio of 1.88 and a beta of 1.08. The business has a 50 day simple moving average of $169.85 and a 200 day simple moving average of $143.60. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, beating analysts’ consensus estimates of $2.61 by $0.14. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. Workday had a net margin of 12.32% and a return on equity of 20.95%. The business’s revenue was up 12.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.21 earnings per share. Analysts anticipate that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. Summit Redstone set a $275.00 price objective on shares of Workday in a research note on Wednesday, May 27th. Guggenheim reiterated a “buy” rating and issued a $275.00 target price on shares of Workday in a report on Friday, August 21st. DA Davidson lifted their price target on shares of Workday from $135.00 to $190.00 and gave the stock a “neutral” rating in a research report on Friday, August 28th. Oppenheimer lifted their price target on shares of Workday from $165.00 to $220.00 and gave the stock an “outperform” rating in a research report on Monday, August 24th. Finally, CLSA started coverage on shares of Workday in a report on Monday, July 20th. They issued an “underperform” rating and a $92.00 price target for the company. Twenty analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, Workday has an average rating of “Hold” and a consensus price target of $206.34.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 90,615 shares of the stock in a transaction dated Friday, September 4th. The stock was sold at an average price of $198.14, for a total transaction of $17,954,456.10. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at approximately $20,814,408.86. This represents a 46.31% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 dated Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total value of $391,795.36. Following the transaction, the insider owned 266,388 shares of the company’s stock, valued at approximately $38,258,644.56. This trade 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. Insiders sold a total of 845,596 shares of company stock valued at $119,870,637 over the last quarter. 18.64% of the stock is currently owned by corporate insiders.

Workday Company Profile

Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.

The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.