Saudi Central Bank Increases Stock Position in Workday, Inc. $WDAY

Saudi Central Bank raised its position in Workday, Inc. (NASDAQ:WDAY) by 87.5% during the second quarter, Holdings Channel.com reports. The fund owned 14,738 shares of the software maker’s stock after purchasing an additional 6,876 shares during the quarter. Saudi Central Bank’s holdings in Workday were worth $1,804,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently modified their holdings of WDAY. Auto Owners Insurance Co boosted its holdings in shares of Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after purchasing an additional 10,190,516 shares during the period. State Street Corp raised its position in Workday by 1.0% during the 4th quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock valued at $2,098,552,000 after purchasing an additional 96,139 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in Workday by 47.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock valued at $1,406,463,000 after purchasing an additional 1,882,391 shares during the last quarter. Geode Capital Management LLC lifted its holdings in Workday by 1.5% in the 4th quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock worth $1,089,970,000 after buying an additional 75,922 shares during the period. Finally, Janus Henderson Group PLC lifted its holdings in Workday by 101.4% in the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock worth $1,077,537,000 after buying an additional 2,525,821 shares during the period. 89.81% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Gerrit Kazmaier sold 2,728 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total value of $391,795.36. Following the sale, the insider directly owned 266,388 shares of the company’s stock, valued at $38,258,644.56. This represents a 1.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David Duffield sold 94,961 shares of the stock in a transaction dated 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 of the company’s stock, valued at approximately $20,935,215.21. The trade was a 47.48% 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 quarter, insiders have sold 754,981 shares of company stock worth $101,916,181. 18.64% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

WDAY has been the topic of several research analyst reports. Summit Redstone set a $275.00 target price on Workday in a research note on Wednesday, May 27th. Sanford C. Bernstein raised their price target on Workday from $216.00 to $238.00 and gave the stock an “outperform” rating in a research note on Friday, August 28th. Morgan Stanley lifted their price target on shares of Workday from $145.00 to $180.00 and gave the company an “underweight” rating in a report on Friday, August 28th. Robert W. Baird boosted their price objective on shares of Workday from $190.00 to $215.00 and gave the company an “outperform” rating in a research report on Friday, August 14th. Finally, Monness Crespi & Hardt upped their price objective on shares of Workday from $202.00 to $218.00 and gave the stock a “buy” rating in a report on Friday, August 28th. Twenty equities research analysts have rated the stock with a Buy rating, seventeen have assigned a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $206.34.

Workday Trading Down 4.9%

WDAY opened at $186.28 on Wednesday. The stock has a market cap of $44.89 billion, a PE ratio of 37.79, a PEG ratio of 1.98 and a beta of 1.08. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The business has a 50 day moving average of $168.73 and a 200-day moving average of $143.28. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, topping the consensus estimate of $2.61 by $0.14. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%.The firm’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the prior year, the firm earned $2.21 earnings per share. Equities research analysts predict that Workday, Inc. will post 5.3 earnings per share 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.