ANTIPODES PARTNERS Ltd Has $40.74 Million Stock Holdings in Workday, Inc. $WDAY

Key Points

• ANTIPODES PARTNERS Ltd increased its Workday stake by 34% in the fourth quarter, ending with 189,658 shares valued at about $40.74 million.
• Several analysts cut price targets on Workday, and the stock now carries a Moderate Buy consensus with an average target price of $199.71.
• Workday reported stronger-than-expected quarterly results, with EPS of $2.47 topping estimates and revenue rising 14.5% year over year to $2.53 billion, though insiders have recently sold shares.

ANTIPODES PARTNERS Ltd lifted its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 34.0% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 189,658 shares of the software maker's stock after acquiring an additional 48,132 shares during the quarter. ANTIPODES PARTNERS Ltd owned approximately 0.07% of Workday worth $40,738,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of WDAY. Northwestern Mutual Wealth Management Co. boosted its holdings in Workday by 242.1% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 24,017 shares of the software maker's stock worth $5,158,000 after purchasing an additional 16,997 shares in the last quarter. Phoenix Financial Ltd. boosted its holdings in Workday by 1.6% in the fourth quarter. Phoenix Financial Ltd. now owns 8,444 shares of the software maker's stock worth $1,814,000 after purchasing an additional 137 shares in the last quarter. New York Life Investment Management LLC boosted its holdings in Workday by 1.9% in the fourth quarter. New York Life Investment Management LLC now owns 32,195 shares of the software maker's stock worth $6,915,000 after purchasing an additional 596 shares in the last quarter. E Fund Management Hong Kong Co. Ltd. boosted its holdings in Workday by 145.5% in the fourth quarter. E Fund Management Hong Kong Co. Ltd. now owns 545 shares of the software maker's stock worth $117,000 after purchasing an additional 323 shares in the last quarter. Finally, SFE Investment Counsel boosted its holdings in Workday by 58.6% in the fourth quarter. SFE Investment Counsel now owns 4,615 shares of the software maker's stock worth $991,000 after purchasing an additional 1,705 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on WDAY shares. The Goldman Sachs Group decreased their price objective on shares of Workday from $238.00 to $206.00 and set a "neutral" rating for the company in a report on Wednesday, February 25th. Jefferies Financial Group cut shares of Workday from a "buy" rating to a "hold" rating and decreased their price target for the company from $325.00 to $150.00 in a report on Monday, February 23rd. Rosenblatt Securities decreased their price target on shares of Workday from $180.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. BMO Capital Markets decreased their price target on shares of Workday from $204.00 to $182.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. Finally, Loop Capital set a $210.00 price target on shares of Workday in a report on Thursday, March 12th. Nineteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and a consensus target price of $199.71.

Insider Buying and Selling

In other news, insider Gerrit S. Kazmaier sold 9,356 shares of Workday stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the transaction, the insider directly owned 165,074 shares of the company's stock, valued at $21,193,850.86. This trade represents a 5.36% decrease in their ownership of the stock. The sale 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $129.76, for a total transaction of $13,949,200.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $13,631,158.24. This represents a 50.58% 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. Over the last ninety days, insiders sold 989,814 shares of company stock worth $131,576,291. Insiders own 18.64% of the company's stock.

Workday Stock Performance

Shares of Workday stock opened at $125.01 on Friday. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The firm has a market cap of $32.13 billion, a P/E ratio of 48.45, a P/E/G ratio of 1.15 and a beta of 1.04. The firm has a 50 day simple moving average of $127.74 and a 200 day simple moving average of $173.09. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $274.65.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating analysts' consensus estimates of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the business posted $1.92 earnings per share. Workday's revenue for the quarter was up 14.5% compared to the same quarter last year. Sell-side analysts predict that Workday, Inc. will post 5.11 earnings per share for the current fiscal year.

About Workday

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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