Workday, Inc. $WDAY Shares Purchased by Tidal Investments LLC

Tidal Investments LLC increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 43.6% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,439,456 shares of the software maker’s stock after purchasing an additional 437,175 shares during the period. Tidal Investments LLC’s holdings in Workday were worth $176,218,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Rakuten Securities Inc. purchased a new stake in Workday in the second quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Workday during the 3rd quarter valued at about $26,000. DT Investment Partners LLC acquired a new position in shares of Workday in the 4th quarter valued at about $27,000. LRI Investments LLC acquired a new position in shares of Workday in the 4th quarter valued at about $29,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Workday in the third quarter worth about $30,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts recently commented on WDAY shares. BTIG Research lowered Workday from a “buy” rating to a “neutral” rating in a report on Monday, August 17th. Monness Crespi & Hardt upped their price objective on Workday from $202.00 to $218.00 and gave the stock a “buy” rating in a research report on Friday, August 28th. Canaccord Genuity Group upped their price objective on Workday from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. DA Davidson raised their price objective on shares of Workday from $135.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Finally, Morgan Stanley lifted their target price on shares of Workday from $145.00 to $180.00 and gave the company an “underweight” rating in a report on Friday, August 28th. Twenty equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $206.34.

Insider Transactions at Workday

In related news, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total value of $862,200.00. Following the completion of the sale, the chief financial officer owned 288,460 shares of the company’s stock, valued at approximately $41,451,702. The trade was a 2.04% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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, insider Gerrit Kazmaier sold 2,728 shares of the company’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total transaction of $391,795.36. Following the transaction, the insider owned 266,388 shares of the company’s stock, valued at $38,258,644.56. This represents a 1.01% decrease in their ownership of the stock. 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 have sold 845,596 shares of company stock worth $119,870,637 in the last ninety days. Company insiders own 18.64% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $186.05 on Thursday. The stock has a market capitalization 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 stock has a 50-day moving average of $169.85 and a 200 day moving average of $143.60. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85.

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

Workday 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.