Workday, Inc. $WDAY Shares Purchased by Smith Group Asset Management LLC

Smith Group Asset Management LLC grew its position in shares of Workday, Inc. (NASDAQ:WDAY) by 9.7% during the first quarter, HoldingsChannel reports. The institutional investor owned 173,739 shares of the software maker’s stock after buying an additional 15,377 shares during the quarter. Smith Group Asset Management LLC’s holdings in Workday were worth $22,572,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Workday by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock valued at $5,371,495,000 after acquiring an additional 3,210,232 shares in the last quarter. Auto Owners Insurance Co boosted its holdings in Workday by 25,412.8% in 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 increased its stake in Workday by 1.0% during the fourth 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 increased its stake in Workday by 47.5% during the third 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. Finally, Geode Capital Management LLC raised its holdings in shares of Workday by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock worth $1,089,970,000 after purchasing an additional 75,922 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently issued reports on WDAY. BTIG Research restated a “buy” rating and issued a $175.00 price target on shares of Workday in a research report on Monday, May 18th. Piper Sandler increased their price objective on shares of Workday from $135.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Needham & Company LLC cut their target price on shares of Workday from $300.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. CLSA initiated coverage on Workday in a report on Monday, July 20th. They set an “underperform” rating and a $92.00 target price for the company. Finally, Barclays upgraded Workday from an “overweight” rating to a “buy” rating in a research report 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 given a Sell rating to the stock. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $179.80.

Insider Transactions at Workday

In other Workday news, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the sale, the insider owned 239,469 shares of the company’s stock, valued at $32,304,368.10. The trade was a 2.19% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the transaction, the chief financial officer owned 288,460 shares of the company’s stock, valued at $41,451,702. This trade represents a 2.04% 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. Over the last three months, insiders sold 875,020 shares of company stock worth $113,938,503. Company insiders own 18.64% of the company’s stock.

Workday Trading Up 8.2%

Shares of NASDAQ:WDAY opened at $159.69 on Wednesday. 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 company’s 50-day moving average price is $134.11 and its 200 day moving average price is $140.56. The company has a market cap of $39.44 billion, a PE ratio of 49.90, a P/E/G ratio of 1.57 and a beta of 1.11. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85.

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