ICICI Prudential Asset Management Co Ltd Acquires 8,086 Shares of Workday, Inc. $WDAY

ICICI Prudential Asset Management Co Ltd raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 25.1% in the 4th quarter, Holdings Channel reports. The firm owned 40,318 shares of the software maker’s stock after purchasing an additional 8,086 shares during the quarter. ICICI Prudential Asset Management Co Ltd’s holdings in Workday were worth $8,660,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. bought a new stake in shares of Workday during the second quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Workday during the third quarter worth $26,000. JPL Wealth Management LLC bought a new stake in shares of Workday during the third quarter worth $30,000. DT Investment Partners LLC bought a new stake in shares of Workday during the fourth quarter worth $27,000. Finally, LRI Investments LLC bought a new stake in shares of Workday during the fourth quarter worth $29,000. 89.81% of the stock is currently owned by institutional investors.

Insider Transactions at Workday

In other news, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the transaction, the insider owned 165,074 shares in the company, valued at approximately $21,193,850.86. This trade represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a filing 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, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total value of $13,949,200.00. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at $13,631,158.24. This trade represents a 50.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 774,814 shares of company stock worth $102,709,316. Corporate insiders own 18.64% of the company’s stock.

Workday Stock Performance

Shares of Workday stock opened at $130.53 on Friday. The firm has a market cap of $32.24 billion, a P/E ratio of 40.79, a P/E/G ratio of 1.46 and a beta of 1.09. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $253.54. The stock’s fifty day moving average price is $128.07 and its 200-day moving average price is $160.22.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.51 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.23 earnings per share. On average, equities research analysts expect that Workday, Inc. will post 5.4 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the company. Oppenheimer reiterated an “outperform” rating on shares of Workday in a research report on Thursday. BTIG Research reiterated a “buy” rating and set a $175.00 target price on shares of Workday in a research report on Monday, May 18th. Bank of America assumed coverage on Workday in a research report on Wednesday, May 27th. They set a “neutral” rating and a $140.00 target price for the company. Monness Crespi & Hardt upgraded Workday to a “hold” rating in a research report on Friday, May 22nd. Finally, Morgan Stanley cut their price target on Workday from $280.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Monday, February 23rd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $185.03.

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.