Workday, Inc. $WDAY Shares Bought by Swiss National Bank

Swiss National Bank lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 5.1% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 625,100 shares of the software maker’s stock after acquiring an additional 30,400 shares during the quarter. Swiss National Bank owned about 0.24% of Workday worth $81,213,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in 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 purchasing an additional 3,210,232 shares in the last quarter. Auto Owners Insurance Co raised its holdings in Workday by 25,412.8% during the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after buying an additional 10,190,516 shares during the period. State Street Corp lifted its position in shares of Workday by 1.0% in 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 acquiring an additional 96,139 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Workday by 47.5% in 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 in the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Workday by 1.5% in 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 buying an additional 75,922 shares during the period. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WDAY. Monness Crespi & Hardt upgraded Workday from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Thursday, June 25th. William Blair upgraded Workday to a “strong-buy” rating in a research report on Friday, May 22nd. BMO Capital Markets reaffirmed an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. Oppenheimer reiterated an “outperform” rating on shares of Workday in a report on Thursday, June 11th. Finally, Bank of America began coverage on shares of Workday in a research report on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 price target for the company. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. Based on data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 918 shares of Workday 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 of the company’s stock, valued at approximately $10,481,962.42. The trade was a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $136.74, for a total transaction of $14,699,550.00. Following the completion of the sale, the insider owned 105,049 shares of the company’s stock, valued at $14,364,400.26. This represents a 50.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 875,020 shares of company stock valued at $113,938,503. 18.64% of the stock is owned by company insiders.

Workday Price Performance

WDAY opened at $141.17 on Wednesday. The stock has a fifty day moving average price of $132.42 and a 200 day moving average price of $143.01. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The stock has a market cap of $34.87 billion, a price-to-earnings ratio of 44.12, a PEG ratio of 1.57 and a beta of 1.11.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the firm posted $2.23 EPS. The business’s revenue was up 13.5% compared to the same quarter last year. Analysts forecast that Workday, Inc. will post 5.35 EPS for the current fiscal year.

About Workday

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.