Lead Edge Capital Management LLC Purchases New Stake in Workday, Inc. $WDAY

Lead Edge Capital Management LLC purchased a new position in Workday, Inc. (NASDAQ:WDAY) in the first quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 615,670 shares of the software maker’s stock, valued at approximately $79,988,000. Workday makes up about 19.6% of Lead Edge Capital Management LLC’s investment portfolio, making the stock its largest holding.

Other institutional investors have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new stake in Workday during the second quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Workday in the third quarter worth about $26,000. DT Investment Partners LLC acquired a new stake in Workday in the fourth quarter worth approximately $27,000. LRI Investments LLC acquired a new stake in shares of Workday in the fourth quarter valued at $29,000. Finally, JPL Wealth Management LLC bought a new position in shares of Workday during the 3rd quarter valued at about $30,000. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In related news, insider Gerrit S. Kazmaier sold 2,728 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total value of $391,795.36. Following the sale, the insider directly owned 266,388 shares of the company’s stock, valued at approximately $38,258,644.56. The trade was a 1.01% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through 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, CAO Mark S. Garfield sold 918 shares of the company’s stock in a transaction dated Friday, July 10th. The stock was sold at an average price of $142.19, for a total value of $130,530.42. Following the transaction, the chief accounting officer directly owned 73,718 shares of the company’s stock, valued at $10,481,962.42. This represents a 1.23% 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. Insiders have sold a total of 875,020 shares of company stock worth $113,938,503 in the last three months. 18.64% of the stock is owned by insiders.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $135.34 on Friday. The business has a 50-day moving average price of $133.13 and a two-hundred day moving average price of $141.84. 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 capitalization of $33.43 billion, a P/E ratio of 42.29, a P/E/G ratio of 1.44 and a beta of 1.11.

Workday (NASDAQ:WDAY) last issued its 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. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $2.23 EPS. Equities analysts predict that Workday, Inc. will post 5.38 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on WDAY shares. Bank of America assumed coverage on Workday in a research report on Wednesday, May 27th. They set a “neutral” rating and a $140.00 target price on the stock. Wolfe Research restated an “outperform” rating and issued a $160.00 target price on shares of Workday in a research note on Friday, May 22nd. Barclays upgraded shares of Workday from an “overweight” rating to a “buy” rating in a research note on Friday, May 22nd. Piper Sandler upped their target price on Workday from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. Finally, Weiss Ratings reiterated a “sell (d+)” rating on shares of Workday in a report on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the stock. Based on data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus price target of $179.80.

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.