Neo Ivy Capital Management Acquires 3,130 Shares of Workday, Inc. $WDAY

Neo Ivy Capital Management lifted its holdings in Workday, Inc. (NASDAQ:WDAY) by 91.3% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 6,560 shares of the software maker’s stock after purchasing an additional 3,130 shares during the quarter. Neo Ivy Capital Management’s holdings in Workday were worth $1,574,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Brighton Jones LLC lifted its stake in Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after acquiring an additional 2,792 shares during the period. Kestra Private Wealth Services LLC raised its holdings in shares of Workday by 66.8% during the first quarter. Kestra Private Wealth Services LLC now owns 2,350 shares of the software maker’s stock valued at $549,000 after purchasing an additional 941 shares during the last quarter. IFP Advisors Inc lifted its position in Workday by 14.2% during the first quarter. IFP Advisors Inc now owns 2,862 shares of the software maker’s stock valued at $669,000 after purchasing an additional 355 shares during the period. Bank Julius Baer & Co. Ltd Zurich bought a new position in Workday during the first quarter valued at approximately $128,000. Finally, Venturi Wealth Management LLC boosted its holdings in Workday by 42.9% in the first quarter. Venturi Wealth Management LLC now owns 1,633 shares of the software maker’s stock worth $381,000 after purchasing an additional 490 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Stock Down 3.1%

Shares of WDAY stock opened at $216.81 on Friday. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.10 and a quick ratio of 2.10. Workday, Inc. has a one year low of $205.33 and a one year high of $294.00. The company’s fifty day moving average price is $233.94 and its 200-day moving average price is $237.35. The company has a market capitalization of $57.89 billion, a price-to-earnings ratio of 100.38, a PEG ratio of 2.79 and a beta of 1.11.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, beating the consensus estimate of $2.09 by $0.12. Workday had a return on equity of 9.74% and a net margin of 6.51%.The business had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period in the previous year, the business earned $1.75 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. Sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have weighed in on WDAY. Needham & Company LLC reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Wednesday, September 17th. Cowen reaffirmed a “buy” rating on shares of Workday in a report on Wednesday, September 17th. Barclays upped their price objective on Workday from $285.00 to $288.00 and gave the company an “overweight” rating in a research report on Thursday, September 18th. Wells Fargo & Company dropped their target price on Workday from $325.00 to $300.00 and set an “overweight” rating on the stock in a research report on Monday, August 18th. Finally, DA Davidson boosted their price target on Workday from $225.00 to $260.00 and gave the company a “neutral” rating in a research note on Friday, September 19th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and ten have issued a Hold rating to the company’s stock. Based on data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $287.86.

Insider Buying and Selling

In other Workday news, insider Richard Harry Sauer sold 2,320 shares of the stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $235.87, for a total transaction of $547,218.40. Following the completion of the sale, the insider directly owned 90,077 shares of the company’s stock, valued at $21,246,461.99. This trade represents a 2.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $232.62, for a total transaction of $1,395,720.00. Following the transaction, the chief financial officer owned 168,468 shares of the company’s stock, valued at approximately $39,189,026.16. This represents a 3.44% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold 264,933 shares of company stock worth $61,475,760 in the last quarter. 19.31% of the stock is owned by insiders.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.