Workday, Inc. $WDAY Shares Purchased by Hsbc Holdings PLC

Hsbc Holdings PLC boosted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 25.3% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 710,309 shares of the software maker’s stock after purchasing an additional 143,274 shares during the quarter. Hsbc Holdings PLC’s holdings in Workday were worth $92,374,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. purchased a new position in shares of Workday in the 2nd quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Workday during the third quarter worth approximately $26,000. DT Investment Partners LLC purchased a new stake in shares of Workday during the fourth quarter worth approximately $27,000. LRI Investments LLC acquired a new stake in Workday in the fourth quarter valued at approximately $29,000. Finally, JPL Wealth Management LLC acquired a new stake in Workday in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

WDAY stock opened at $144.78 on Monday. The business has a 50 day moving average price of $131.46 and a 200 day moving average price of $144.02. 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 stock has a market cap of $35.76 billion, a price-to-earnings ratio of 45.24, a PEG ratio of 1.55 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 announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating 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 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 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. Equities research analysts anticipate that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Insider Activity

In related news, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the sale, the insider directly owned 105,049 shares in the company, valued at $12,820,179.96. This trade represents a 50.58% decrease in their position. The sale 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. Also, insider Robert Enslin sold 5,374 shares of the company’s stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the transaction, the insider owned 239,469 shares of the company’s stock, valued at $32,304,368.10. This represents a 2.19% decrease in their position. The disclosure for this sale is available in the SEC filing. 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. In the last quarter, insiders sold 875,020 shares of company stock worth $113,938,503. Corporate insiders own 18.64% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on WDAY. Jefferies Financial Group boosted their price target on shares of Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, May 22nd. Needham & Company LLC reduced their price objective 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. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Workday in a research report on Wednesday, June 17th. Wolfe Research reiterated an “outperform” rating and set a $160.00 target price on shares of Workday in a research note on Friday, May 22nd. Finally, The Goldman Sachs Group lowered their target price on shares of Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a research note on Tuesday, May 26th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus target price of $184.00.

Workday 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.