3,816 Workday, Inc. $WDAY Shares Bought by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. boosted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 7.7% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 53,080 shares of the software maker’s stock after buying an additional 3,816 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Workday were worth $10,041,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in WDAY. Provenance Wealth Advisors LLC increased its position in shares of Workday by 388.9% in the third quarter. Provenance Wealth Advisors LLC now owns 220 shares of the software maker’s stock valued at $42,000 after acquiring an additional 175 shares during the period. BOCHK Asset Management Ltd purchased a new stake in shares of Workday during the third quarter worth about $1,314,000. Signature Equity Partners LLC boosted its holdings in shares of Workday by 350.0% during the third quarter. Signature Equity Partners LLC now owns 198 shares of the software maker’s stock worth $38,000 after purchasing an additional 154 shares during the period. Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of Workday during the third quarter worth about $30,922,000. Finally, ProShare Advisors LLC grew its stake in shares of Workday by 1.2% in the third quarter. ProShare Advisors LLC now owns 231,372 shares of the software maker’s stock worth $44,067,000 after purchasing an additional 2,692 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY opened at $200.17 on Friday. The company has a 50-day simple moving average of $194.34 and a two-hundred day simple moving average of $156.43. 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 firm has a market capitalization of $48.24 billion, a PE ratio of 40.60, a price-to-earnings-growth ratio of 2.03 and a beta of 1.02. Workday, Inc. has a one year low of $110.36 and a one year high of $236.80.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%. The firm had revenue of $2.65 billion for the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter in the prior year, the business earned $2.21 EPS. The business’s revenue for the quarter was up 12.8% on a year-over-year basis. On average, analysts anticipate that Workday, Inc. will post 5.32 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WDAY has been the topic of several recent analyst reports. TD Cowen cut their target price on Workday from $220.00 to $210.00 and set a “hold” rating on the stock in a research note on Friday, August 28th. Daiwa Securities Group upped their price target on Workday from $170.00 to $230.00 and gave the company a “buy” rating in a research report on Wednesday, September 9th. Bank of America raised their price target on Workday from $140.00 to $205.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 19th. Lake Street Capital set a $205.00 price target on shares of Workday in a report on Friday, August 14th. Finally, BTIG Research reissued a “neutral” rating on shares of Workday in a research report on Friday, October 16th. Twenty-two investment analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat.com, Workday presently has a consensus rating of “Hold” and an average target price of $202.10.

Insider Activity at Workday

In related news, major shareholder David Duffield sold 100,780 shares of Workday stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $185.64, for a total transaction of $18,708,799.20. Following the sale, the insider directly owned 105,049 shares in the company, valued at $19,501,296.36. The trade was a 48.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders sold 988,104 shares of company stock valued at $188,811,574. Company insiders own 18.64% of the company’s stock.

Workday Profile

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company’s products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.