Workday, Inc. $WDAY Shares Purchased by Empowered Funds LLC

Empowered Funds LLC boosted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 395.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 107,880 shares of the software maker’s stock after purchasing an additional 86,105 shares during the period. Empowered Funds LLC’s holdings in Workday were worth $14,016,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WDAY. Brighton Jones LLC grew its position in Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after acquiring an additional 2,792 shares during the period. Geneos Wealth Management Inc. raised its position in Workday by 211.7% in the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after purchasing an additional 127 shares during the period. Sivia Capital Partners LLC purchased a new stake in Workday in the second quarter valued at $281,000. NewEdge Advisors LLC raised its position in Workday by 32.0% in the second quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock valued at $1,583,000 after purchasing an additional 1,600 shares during the period. Finally, Treasurer of the State of North Carolina lifted its stake in shares of Workday by 3.8% in the 2nd quarter. Treasurer of the State of North Carolina now owns 100,513 shares of the software maker’s stock valued at $24,123,000 after purchasing an additional 3,643 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on the company. Citigroup reiterated a “market perform” rating on shares of Workday in a report on Friday, May 22nd. Piper Sandler boosted their price objective on shares of Workday from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Morgan Stanley cut shares of Workday from an “equal weight” rating to an “underweight” rating and decreased their target price for the company from $185.00 to $145.00 in a research report on Tuesday, July 21st. 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. Finally, Bank of America started coverage on shares of Workday in a research report on Wednesday, May 27th. They set a “neutral” rating and a $140.00 price target for the company. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.80.

Workday Price Performance

Workday stock opened at $168.01 on Thursday. The company’s 50 day moving average is $134.94 and its two-hundred day moving average is $140.27. The firm has a market cap of $41.50 billion, a PE ratio of 52.50, a price-to-earnings-growth ratio of 1.70 and a beta of 1.11. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the business posted $2.23 earnings per share. Workday’s revenue was up 13.5% compared to the same quarter last year. On average, research analysts expect that Workday, Inc. will post 5.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other Workday news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the completion of the sale, the chief financial officer directly owned 288,460 shares of the company’s stock, valued at $41,451,702. The trade was a 2.04% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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 approximately $10,481,962.42. This represents a 1.23% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 875,020 shares of company stock worth $113,938,503. 18.64% of the stock is currently owned by insiders.

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.