NEOS Investment Management LLC Acquires 17,823 Shares of Workday, Inc. $WDAY

NEOS Investment Management LLC raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 12.5% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 160,695 shares of the software maker’s stock after buying an additional 17,823 shares during the quarter. NEOS Investment Management LLC owned about 0.07% of Workday worth $19,672,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Rakuten Securities Inc. bought a new position in Workday during the second quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new stake in Workday in the 3rd quarter valued at $26,000. JPL Wealth Management LLC bought a new stake in Workday in the 3rd quarter valued at $30,000. DT Investment Partners LLC acquired a new stake in Workday in the 4th quarter worth $27,000. Finally, LRI Investments LLC acquired a new stake in Workday in the 4th quarter worth $29,000. 89.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder David Duffield sold 94,961 shares of the firm’s stock in a transaction that occurred on Tuesday, September 1st. The stock was sold at an average price of $199.29, for a total transaction of $18,924,777.69. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at $20,935,215.21. This trade represents a 47.48% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit Kazmaier sold 2,728 shares of Workday stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total value of $391,795.36. Following the transaction, the insider directly owned 266,388 shares of the company’s stock, valued at approximately $38,258,644.56. The trade was a 1.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 862,481 shares of company stock worth $116,785,581. Insiders own 18.64% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on WDAY shares. Citigroup upped their price objective on shares of Workday from $139.00 to $201.00 and gave the company a “neutral” rating in a research report on Friday, August 28th. BMO Capital Markets boosted their price target on Workday from $182.00 to $230.00 and gave the company an “outperform” rating in a research note on Friday, August 28th. Oppenheimer upped their price target on Workday from $165.00 to $220.00 and gave the company an “outperform” rating in a report on Monday, August 24th. Stifel Nicolaus raised their price objective on Workday from $115.00 to $160.00 and gave the stock a “hold” rating in a research report on Friday, August 28th. Finally, Sanford C. Bernstein lifted their price objective on Workday from $216.00 to $238.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. Twenty investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $206.34.

Workday Price Performance

Shares of Workday stock opened at $195.79 on Friday. The firm has a market cap of $48.36 billion, a P/E ratio of 39.71, a price-to-earnings-growth ratio of 2.09 and a beta of 1.08. The firm’s 50-day simple moving average is $166.01 and its 200-day simple moving average is $142.61. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.61 by $0.14. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.64 billion. Workday had a net margin of 12.32% and a return on equity of 20.95%. The company’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.21 earnings per share. As a group, research analysts expect that Workday, Inc. will post 5.3 EPS for the current fiscal year.

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.