Workday, Inc. $WDAY Shares Acquired by Harvest Fund Management Co. Ltd

Harvest Fund Management Co. Ltd grew its stake in Workday, Inc. (NASDAQ:WDAY) by 40.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 55,605 shares of the software maker’s stock after purchasing an additional 15,903 shares during the quarter. Harvest Fund Management Co. Ltd’s holdings in Workday were worth $11,943,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of WDAY. Vanguard Group Inc. grew its position in shares of Workday by 14.7% in the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock valued at $5,371,495,000 after purchasing an additional 3,210,232 shares during the period. First Eagle Investment Management LLC acquired a new stake in shares of Workday in the third quarter valued at about $556,252,000. Norges Bank acquired a new position in Workday during the fourth quarter worth about $448,804,000. Hotchkis & Wiley Capital Management LLC boosted its position in Workday by 47.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after acquiring an additional 1,882,391 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in Workday by 41.5% during the third 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 worth $905,530,000 after acquiring an additional 1,103,421 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on WDAY shares. TD Cowen restated a “hold” rating on shares of Workday in a research report on Friday, May 22nd. Jefferies Financial Group boosted their price target on shares of Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, May 22nd. Monness Crespi & Hardt upgraded shares of Workday to a “hold” rating in a research report on Friday, May 22nd. Sanford C. Bernstein restated an “outperform” rating and set a $216.00 price target on shares of Workday in a research report on Friday, May 22nd. Finally, The Goldman Sachs Group lowered their price target on shares of Workday from $206.00 to $151.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $185.03.

Insiders Place Their Bets

In other news, insider Gerrit S. Kazmaier sold 9,356 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the sale, the insider directly owned 165,074 shares of the company’s stock, valued at approximately $21,193,850.86. The trade was a 5.36% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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, CAO Mark S. Garfield sold 1,585 shares of the business’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $113.05, for a total transaction of $179,184.25. Following the completion of the sale, the chief accounting officer directly owned 31,467 shares in the company, valued at $3,557,344.35. This trade represents a 4.80% 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. In the last ninety days, insiders sold 774,814 shares of company stock worth $101,308,591. Insiders own 18.64% of the company’s stock.

Workday Price Performance

Shares of WDAY stock opened at $147.91 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The firm’s 50-day moving average is $126.90 and its two-hundred day moving average is $163.18. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $257.09. The company has a market capitalization of $36.53 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the previous year, the firm earned $2.23 earnings per share. Workday’s quarterly revenue was up 13.5% compared to the same quarter last year. Analysts predict that Workday, Inc. will post 5.19 earnings per share for the current year.

Workday 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.