ProShare Advisors LLC Buys 2,692 Shares of Workday, Inc. $WDAY

ProShare Advisors LLC increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 1.2% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 231,372 shares of the software maker’s stock after purchasing an additional 2,692 shares during the quarter. ProShare Advisors LLC owned 0.10% of Workday worth $44,067,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Tidal Investments LLC raised its position in Workday by 43.6% in the 2nd quarter. Tidal Investments LLC now owns 1,439,456 shares of the software maker’s stock valued at $176,218,000 after purchasing an additional 437,175 shares in the last quarter. First Trust Advisors LP grew its position in shares of Workday by 9.6% during the first quarter. First Trust Advisors LP now owns 1,416,176 shares of the software maker’s stock worth $183,990,000 after buying an additional 124,524 shares in the last quarter. Pacer Advisors Inc. grew its position in shares of Workday by 60.4% during the first quarter. Pacer Advisors Inc. now owns 1,227,051 shares of the software maker’s stock worth $159,418,000 after buying an additional 462,002 shares in the last quarter. Temasek Holdings Private Ltd increased its stake in shares of Workday by 9.5% during the first quarter. Temasek Holdings Private Ltd now owns 889,318 shares of the software maker’s stock worth $115,540,000 after buying an additional 77,330 shares during the period. Finally, Hsbc Holdings PLC increased its stake in shares of Workday by 25.3% during the first quarter. Hsbc Holdings PLC now owns 710,309 shares of the software maker’s stock worth $92,374,000 after buying an additional 143,274 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several brokerages recently weighed in on WDAY. Daiwa Securities Group raised their target price on shares of Workday from $170.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. TD Cowen lowered their price target on shares of Workday from $220.00 to $210.00 and set a “hold” rating for the company in a report on Friday, August 28th. Citigroup reissued a “neutral” rating and issued a $201.00 price objective (up from $139.00) on shares of Workday in a research report on Tuesday, October 6th. Monness Crespi & Hardt raised their price objective on shares of Workday from $202.00 to $218.00 and gave the company a “buy” rating in a report on Friday, August 28th. Finally, Capital One Financial decreased their price objective on shares of Workday from $203.00 to $202.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 14th. Twenty-two investment analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $202.10.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $197.82 on Monday. The company has a market capitalization of $47.67 billion, a PE ratio of 40.13, a P/E/G ratio of 1.99 and a beta of 1.02. The company has a current ratio of 0.91, a quick ratio of 0.91 and a debt-to-equity ratio of 0.31. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $241.32. The firm has a 50 day simple moving average of $194.07 and a 200-day simple moving average of $156.31.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The business had revenue of $2.65 billion during the quarter, compared to analysts’ expectations of $2.64 billion. During the same quarter in the prior year, the business posted $2.21 EPS. The company’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, equities analysts predict that Workday, Inc. will post 5.32 EPS for the current fiscal year.

Insider Transactions at Workday

In other Workday news, CAO Mark Garfield sold 918 shares of the company’s stock in a transaction on Monday, October 12th. The shares were sold at an average price of $189.45, for a total value of $173,915.10. Following the completion of the transaction, the chief accounting officer owned 69,309 shares in the company, valued at $13,130,590.05. This represents a 1.31% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Enslin sold 5,374 shares of the firm’s stock in a transaction dated Monday, October 5th. The stock was sold at an average price of $187.00, for a total value of $1,004,938.00. Following the transaction, the insider directly owned 226,233 shares in the company, valued at approximately $42,305,571. The trade was a 2.32% decrease in their position. 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. Insiders sold 988,104 shares of company stock valued at $188,811,574 over the last quarter. 18.64% of the stock is owned by corporate insiders.

Workday Profile

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company’s products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.