106,557 Shares in Workday, Inc. $WDAY Bought by Sapient Capital LLC

Key Points

• Sapient Capital LLC acquired 106,557 Workday shares during the second quarter, worth approximately $13.05 million. Institutional investors collectively own 89.81% of the company.
• Workday insiders sold 875,020 shares worth about $113.94 million over the past quarter, including sales by the company’s insider and CFO under pre-arranged plans to cover tax obligations.
• Analysts maintain a consensus “Moderate Buy” rating with a $179.80 price target. Workday recently exceeded quarterly earnings and revenue estimates, with revenue increasing 13.5% year over year.

Sapient Capital LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 106,557 shares of the software maker's stock, valued at approximately $13,045,000.

Other institutional investors also recently bought and sold shares of the company. Rakuten Securities Inc. purchased a new stake in shares of Workday during the 2nd quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new position in Workday in the 3rd quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in Workday during the third quarter worth approximately $30,000. DT Investment Partners LLC acquired a new stake in Workday in the fourth quarter valued at approximately $27,000. Finally, LRI Investments LLC purchased a new stake in shares of Workday in the fourth quarter valued at approximately $29,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Workday

In other Workday news, insider Robert Enslin sold 5,374 shares of the firm's 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 transaction, the insider owned 239,469 shares of the company's stock, valued at $32,304,368.10. This trade represents a 2.19% decrease in their position. The sale was disclosed in a filing with the SEC, 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, CFO Zane Rowe sold 6,000 shares of the company's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the sale, the chief financial officer directly 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 sold 875,020 shares of company stock worth $113,938,503. Corporate insiders own 18.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Citigroup reaffirmed a "market perform" rating on shares of Workday in a research note on Friday, May 22nd. Wall Street Zen downgraded shares of Workday from a "buy" rating to a "hold" rating in a report on Saturday. Morgan Stanley downgraded Workday from an "equal weight" rating to an "underweight" rating and cut their target price for the stock from $185.00 to $145.00 in a research note on Tuesday, July 21st. Monness Crespi & Hardt raised shares of Workday from a "neutral" rating to a "buy" rating and set a $150.00 price target on the stock in a research report on Thursday, June 25th. Finally, BTIG Research reissued a "buy" rating and issued a $175.00 price objective on shares of Workday in a report on Monday, May 18th. One equities research 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 given a Sell rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $179.80.

Workday Stock Performance

Shares of Workday stock opened at $179.64 on Monday. The business has a 50-day moving average of $140.39 and a 200 day moving average of $138.86. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The stock has a market capitalization of $44.37 billion, a price-to-earnings ratio of 56.14, a price-to-earnings-growth ratio of 1.91 and a beta of 1.08. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share 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 the consensus estimate of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.Workday's revenue was up 13.5% compared to the same quarter last year. During the same period in the previous year, the company posted $2.23 EPS. As a group, sell-side analysts forecast that Workday, Inc. will post 5.38 earnings per share for the current year.

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.

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