Odyssean LLC Grows Position in Workday, Inc. $WDAY

Odyssean LLC raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 69.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,273 shares of the software maker’s stock after buying an additional 7,100 shares during the period. Odyssean LLC’s holdings in Workday were worth $2,115,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the stock. Auto Owners Insurance Co lifted its position 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 acquiring an additional 10,190,516 shares in the last quarter. State Street Corp grew its holdings in Workday by 1.0% during the 4th quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock worth $2,098,552,000 after acquiring an additional 96,139 shares in the last quarter. Hotchkis & Wiley Capital Management LLC grew its stake in 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 worth $1,406,463,000 after purchasing an additional 1,882,391 shares in the last quarter. Geode Capital Management LLC grew its position in shares of 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 acquiring an additional 75,922 shares in the last quarter. Finally, Janus Henderson Group PLC increased its holdings in shares of Workday by 101.4% in the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock valued at $1,077,537,000 after acquiring an additional 2,525,821 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Trading Down 5.4%

NASDAQ:WDAY opened at $195.79 on Friday. The stock has a market cap of $48.36 billion, a PE ratio of 39.71, a price-to-earnings-growth ratio of 2.09 and a beta of 1.08. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. The stock’s 50-day moving average is $166.01 and its two-hundred day moving average is $142.61. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85.

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

Analysts Set New Price Targets

Several equities analysts recently issued reports on the company. KeyCorp raised their price objective on Workday from $158.00 to $215.00 and gave the stock an “overweight” rating in a research note on Friday, August 28th. Barclays increased their target price on Workday from $200.00 to $224.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. TD Cowen dropped their price target on shares of Workday from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday, August 28th. DA Davidson lifted their price objective on shares of Workday from $135.00 to $190.00 and gave the company a “neutral” rating in a research note on Friday, August 28th. Finally, Piper Sandler upped their target price on Workday from $145.00 to $190.00 and gave the stock a “neutral” rating in a research 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 stock. Based on data from MarketBeat, Workday currently has an average rating of “Hold” and an average price target of $206.34.

Insider Activity at Workday

In other Workday news, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction that occurred on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total value of $724,952.60. Following the completion of the sale, the insider directly owned 239,469 shares in the company, valued at $32,304,368.10. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal 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, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the transaction, the chief financial officer owned 288,460 shares in the company, valued at $41,451,702. This 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 quarter, insiders have sold 862,481 shares of company stock valued at $116,785,581. 18.64% of the stock is currently owned by corporate insiders.

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.