Lakehouse Capital Pty Ltd Purchases New Position in Workday, Inc. $WDAY

Lakehouse Capital Pty Ltd purchased a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund purchased 48,940 shares of the software maker’s stock, valued at approximately $10,511,000. Workday makes up 7.6% of Lakehouse Capital Pty Ltd’s holdings, making the stock its 8th biggest holding.

Several other large investors have also made changes to their positions in WDAY. First Eagle Investment Management LLC bought a new stake in shares of Workday in the 3rd quarter valued at approximately $556,252,000. Hotchkis & Wiley Capital Management LLC grew its stake in shares of Workday by 47.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock valued at $1,406,463,000 after buying an additional 1,882,391 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Workday by 41.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker’s stock valued at $905,530,000 after buying an additional 1,103,421 shares in the last quarter. Generation Investment Management LLP grew its stake in shares of Workday by 50.4% in the 3rd quarter. Generation Investment Management LLP now owns 3,087,395 shares of the software maker’s stock valued at $743,229,000 after buying an additional 1,034,589 shares in the last quarter. Finally, Amundi grew its stake in shares of Workday by 61.5% in the 3rd quarter. Amundi now owns 1,981,023 shares of the software maker’s stock valued at $472,197,000 after buying an additional 754,313 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In other news, insider Robert Enslin sold 5,373 shares of the stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $129.41, for a total value of $695,319.93. Following the completion of the sale, the insider directly owned 165,414 shares of the company’s stock, valued at approximately $21,406,225.74. This represents a 3.15% decrease in their ownership of the stock. The transaction 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, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total value of $769,320.00. Following the completion of the sale, the chief financial officer directly owned 217,930 shares of the company’s stock, valued at $27,942,984.60. This represents a 2.68% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 989,814 shares of company stock valued at $131,576,291 in the last ninety days. Company insiders own 19.31% of the company’s stock.

Workday Stock Down 0.8%

WDAY opened at $123.83 on Friday. The business has a 50 day moving average price of $134.19 and a 200 day moving average price of $187.83. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $276.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a market cap of $31.82 billion, a P/E ratio of 48.00, a price-to-earnings-growth ratio of 1.21 and a beta of 1.14.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The firm had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the company earned $1.92 EPS. The company’s revenue for the quarter was up 14.5% on a year-over-year basis. Research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on WDAY shares. Guggenheim lowered their price target on Workday from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Raymond James Financial restated a “market perform” rating on shares of Workday in a report on Monday, February 9th. Stifel Nicolaus set a $175.00 target price on Workday in a report on Monday, February 9th. KeyCorp reduced their target price on Workday from $260.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Finally, Piper Sandler reduced their target price on Workday from $200.00 to $135.00 and set a “neutral” rating for the company in a report on Wednesday, February 25th. Nineteen research analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $199.71.

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.