Renaissance Technologies LLC acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY – Free Report) in the 1st quarter, HoldingsChannel reports. The firm acquired 581,900 shares of the software maker’s stock, valued at approximately $75,600,000.
A number of other institutional investors also recently bought and sold shares of the company. Oak Associates Ltd. OH purchased a new stake in shares of Workday in the 1st quarter valued at approximately $6,620,000. Inceptionr LLC raised its position in shares of Workday by 33.3% during the 1st quarter. Inceptionr LLC now owns 11,237 shares of the software maker’s stock valued at $1,460,000 after buying an additional 2,805 shares during the period. Mizuho Markets Americas LLC purchased a new stake in shares of Workday during the 1st quarter valued at approximately $362,000. Gibbs Wealth Management purchased a new stake in shares of Workday during the 1st quarter valued at approximately $362,000. Finally, Alamar Capital Management LLC acquired a new position in Workday in the first quarter valued at approximately $2,027,000. 89.81% of the stock is owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several brokerages recently weighed in on WDAY. Jefferies Financial Group increased their price objective on Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, May 22nd. Oppenheimer reaffirmed an “outperform” rating on shares of Workday in a research note on Thursday, June 11th. Wolfe Research reiterated an “outperform” rating and set a $160.00 price target on shares of Workday in a report on Friday, May 22nd. Barclays upgraded shares of Workday from an “overweight” rating to a “buy” rating in a report on Friday, May 22nd. Finally, HC Wainwright set a $140.00 target price on shares of Workday in a research note on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average target price of $179.80.
Insider Buying and Selling at Workday
In other Workday news, major shareholder David A. Duffield sold 107,500 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $136.74, for a total transaction of $14,699,550.00. Following the sale, the insider owned 105,049 shares of the company’s stock, valued at approximately $14,364,400.26. This trade represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Enslin sold 5,374 shares of the business’s stock in a transaction that occurred on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the sale, the insider owned 239,469 shares of the company’s stock, valued at $32,304,368.10. This represents a 2.19% decrease in their position. 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. In the last ninety days, insiders have sold 875,020 shares of company stock worth $113,938,503. 18.64% of the stock is currently owned by corporate insiders.
Workday Price Performance
Workday stock opened at $135.34 on Friday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85. The firm has a market cap of $33.43 billion, a PE ratio of 42.29, a price-to-earnings-growth ratio of 1.44 and a beta of 1.11. The company’s 50 day moving average is $133.13 and its two-hundred day moving average is $141.84.
Workday (NASDAQ:WDAY – Get Free Report) last released its earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm posted $2.23 EPS. Workday’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.
Workday Company Profile
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.
Featured Articles
- Five stocks we like better than Workday
- Telecom Earnings Reveal a Sector That Finally Looks Healthier
- Defense Earnings Show Readiness Now and Modernization Ahead
- Why Palantir Investors Aren’t Panicking While the Rest of AI Sells Off
- MarketBeat Week in Review – 07/20- 07/24
Want to see what other hedge funds are holding WDAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workday, Inc. (NASDAQ:WDAY – Free Report).
Receive News & Ratings for Workday Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Workday and related companies with MarketBeat.com's FREE daily email newsletter.
