Governors Lane LP acquired a new position in Workday, Inc. (NASDAQ:WDAY – Free Report) during the 2nd quarter, according to its most recent filing with the SEC. The fund acquired 186,926 shares of the software maker’s stock, valued at approximately $22,883,000. Workday makes up about 1.7% of Governors Lane LP’s holdings, making the stock its 10th largest holding.
A number of other large investors have also recently added to or reduced their stakes in WDAY. Plato Investment Management Ltd purchased a new position in shares of Workday during the 2nd quarter worth approximately $1,115,000. Norges Bank purchased a new stake in Workday in the 4th quarter valued at approximately $448,804,000. S&CO Inc. acquired a new stake in Workday during the 2nd quarter valued at $2,284,000. Harvest Fund Management Co. Ltd raised its holdings in shares of Workday by 40.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock worth $11,943,000 after acquiring an additional 15,903 shares during the last quarter. Finally, Aurora Investment Counsel purchased a new stake in shares of Workday in the fourth quarter valued at $2,357,000. 89.81% of the stock is owned by institutional investors and hedge funds.
Insiders Place Their Bets
In related news, insider Gerrit 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 completion of the transaction, the insider owned 266,388 shares of the company’s stock, valued at approximately $38,258,644.56. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 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 Workday stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the sale, the chief financial officer owned 288,460 shares in the company, valued at $41,451,702. This represents a 2.04% decrease in their ownership of the stock. 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 754,981 shares of company stock worth $101,916,181. 18.64% of the stock is owned by insiders.
Workday Stock Performance
Workday (NASDAQ:WDAY – Get Free Report) last posted its quarterly earnings data 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 company had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.64 billion. Workday had a net margin of 12.32% and a return on equity of 20.95%. The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the company posted $2.21 EPS. On average, research analysts forecast that Workday, Inc. will post 5.3 EPS for the current fiscal year.
Wall Street Analysts Forecast Growth
A number of research firms have recently commented on WDAY. Sanford C. Bernstein raised their price objective on Workday from $216.00 to $238.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. UBS Group set a $230.00 price target on shares of Workday in a research report on Friday, August 28th. KeyCorp increased their price objective on shares of Workday from $158.00 to $215.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. William Blair restated an “outperform” rating on shares of Workday in a report on Friday, August 28th. Finally, Barclays increased their price target on Workday from $200.00 to $224.00 and gave the company an “overweight” rating in a report on Friday, August 28th. Twenty analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $206.34.
View Our Latest Research Report on Workday
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.
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