Y Intercept Hong Kong Ltd Raises Holdings in Workday, Inc. $WDAY

Y Intercept Hong Kong Ltd lifted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 3,001.5% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 135,627 shares of the software maker’s stock after buying an additional 131,254 shares during the quarter. Y Intercept Hong Kong Ltd owned approximately 0.05% of Workday worth $17,621,000 at the end of the most recent quarter.

Several other institutional investors have also recently made changes to their positions in the company. Rakuten Securities Inc. bought a new position in Workday during the 2nd quarter worth about $25,000. Measured Wealth Private Client Group LLC purchased a new position in Workday during the 3rd quarter valued at about $26,000. DT Investment Partners LLC bought a new stake in shares of Workday in the 4th quarter valued at about $27,000. LRI Investments LLC bought a new stake in shares of Workday in the 4th quarter valued at about $29,000. Finally, JPL Wealth Management LLC purchased a new stake in shares of Workday in the 3rd quarter worth approximately $30,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of recent research reports. Wolfe Research reiterated an “outperform” rating and set a $160.00 price objective on shares of Workday in a research note on Friday, May 22nd. Summit Redstone set a $275.00 target price on Workday in a report on Wednesday, May 27th. TD Cowen reaffirmed a “hold” rating on shares of Workday in a research report on Friday, May 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Workday in a report on Wednesday, June 17th. Finally, Oppenheimer reissued an “outperform” rating on shares of Workday in a research report on Thursday, June 11th. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $184.00.

Workday Trading Up 3.9%

NASDAQ:WDAY opened at $135.40 on Friday. The stock has a market capitalization of $33.44 billion, a price-to-earnings ratio of 42.31, a PEG ratio of 1.39 and a beta of 1.11. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a 50 day moving average of $127.58 and a 200 day moving average of $149.94.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.15. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.23 earnings per share. As a group, sell-side analysts anticipate that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 107,500 shares of the firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total value of $13,119,300.00. Following the completion of the sale, the insider owned 105,049 shares of the company’s stock, valued at approximately $12,820,179.96. This trade represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Mark S. Garfield sold 1,585 shares of the firm’s stock in a transaction dated Friday, April 10th. The stock was sold at an average price of $113.05, for a total value of $179,184.25. Following the completion of the sale, the chief accounting officer directly owned 31,467 shares of the company’s stock, valued at approximately $3,557,344.35. This represents a 4.80% 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. Insiders sold 882,314 shares of company stock worth $111,443,691 over the last quarter. Company insiders own 18.64% of the company’s stock.

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.