Quantinno Capital Management LP Increases Stock Position in Workday, Inc. $WDAY

Quantinno Capital Management LP grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 270.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 372,618 shares of the software maker’s stock after purchasing an additional 272,160 shares during the period. Quantinno Capital Management LP owned approximately 0.14% of Workday worth $48,411,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of the business. Rakuten Securities Inc. acquired a new stake in shares of Workday in the 2nd quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Workday in the third quarter valued at $26,000. DT Investment Partners LLC acquired a new stake in Workday in the fourth quarter valued at $27,000. LRI Investments LLC purchased a new stake in shares of Workday during the 4th quarter worth $29,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Workday during the 3rd quarter worth $30,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WDAY. Weiss Ratings reiterated a “sell (d+)” rating on shares of Workday in a report on Wednesday, June 17th. Wells Fargo & Company upped their target price on shares of Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Oppenheimer reissued an “outperform” rating on shares of Workday in a research note on Thursday, June 11th. HC Wainwright set a $140.00 price target on Workday in a report on Wednesday, May 27th. Finally, Jefferies Financial Group raised their price objective on Workday from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.80.

Workday Stock Performance

NASDAQ:WDAY opened at $168.01 on Thursday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $41.50 billion, a P/E ratio of 52.50, a price-to-earnings-growth ratio of 1.70 and a beta of 1.11. The firm has a 50-day moving average price of $134.94 and a two-hundred day moving average price of $140.27. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.23 earnings per share. As a group, research analysts expect that Workday, Inc. will post 5.38 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 107,500 shares of the business’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $136.74, for a total value of $14,699,550.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at $14,364,400.26. The trade was a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Mark S. Garfield sold 918 shares of the company’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $142.19, for a total value of $130,530.42. Following the completion of the sale, the chief accounting officer owned 73,718 shares in the company, valued at $10,481,962.42. This represents a 1.23% 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. Insiders have sold 875,020 shares of company stock worth $113,938,503 in the last quarter. Insiders own 18.64% of the company’s stock.

Workday Company 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.