Harvest Fund Management Co. Ltd Has $6.16 Million Holdings in Workday, Inc. (NASDAQ:WDAY)

Harvest Fund Management Co. Ltd grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 110.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 26,384 shares of the software maker’s stock after acquiring an additional 13,848 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Workday were worth $6,161,000 at the end of the most recent quarter.

Other hedge funds have also recently bought and sold shares of the company. Cornerstone Planning Group LLC lifted its position in Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock worth $28,000 after acquiring an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in Workday during the first quarter worth approximately $32,000. Financial Management Professionals Inc. lifted its position in Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock worth $36,000 after acquiring an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new stake in shares of Workday in the first quarter valued at approximately $40,000. Finally, BankPlus Trust Department acquired a new stake in shares of Workday in the first quarter valued at approximately $40,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Workday news, CAO Mark S. Garfield sold 451 shares of the company’s stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $234.86, for a total value of $105,921.86. Following the completion of the sale, the chief accounting officer directly owned 42,977 shares of the company’s stock, valued at approximately $10,093,578.22. This represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 72,551 shares of the company’s stock in a transaction dated Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total transaction of $17,383,945.11. Following the completion of the sale, the insider directly owned 102,997 shares of the company’s stock, valued at $24,679,111.17. The trade was a 41.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 329,005 shares of company stock worth $79,203,523 over the last ninety days. Insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $238.04 on Tuesday. The firm’s 50-day moving average price is $241.87 and its 200-day moving average price is $246.54. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The firm has a market capitalization of $63.56 billion, a P/E ratio of 131.51, a P/E/G ratio of 3.65 and a beta of 1.21. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. Workday had a net margin of 5.60% and a return on equity of 8.00%. The company had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the business posted $1.74 EPS. The firm’s revenue was up 12.6% compared to the same quarter last year. Equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WDAY shares. JPMorgan Chase & Co. dropped their price target on shares of Workday from $310.00 to $295.00 and set an “overweight” rating for the company in a research report on Friday, May 23rd. Stifel Nicolaus decreased their price objective on shares of Workday from $310.00 to $275.00 and set a “hold” rating on the stock in a research note on Friday, May 23rd. Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a research note on Sunday, July 13th. Piper Sandler reissued an “underweight” rating and issued a $235.00 price objective (down from $255.00) on shares of Workday in a research note on Thursday, July 10th. Finally, Oppenheimer decreased their price objective on shares of Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $296.88.

Workday Profile

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.