Governors Lane LP Invests $22.88 Million in Workday, Inc. $WDAY

Governors Lane LP bought a new stake in Workday, Inc. (NASDAQ:WDAY - Free Report) during the second quarter, according to its most recent disclosure with the SEC. The firm bought 186,926 shares of the software maker's stock, valued at approximately $22,883,000. Workday comprises about 1.7% of Governors Lane LP's holdings, making the stock its 10th largest position. Governors Lane LP owned approximately 0.08% of Workday at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Arizona State Retirement System grew its holdings in shares of Workday by 3.4% during the second quarter. Arizona State Retirement System now owns 60,364 shares of the software maker's stock worth $7,390,000 after purchasing an additional 2,005 shares during the last quarter. Nykredit A S purchased a new position in Workday during the 2nd quarter worth approximately $9,245,000. Parkside Financial Bank & Trust increased its position in Workday by 26.3% during the second quarter. Parkside Financial Bank & Trust now owns 591 shares of the software maker's stock worth $72,000 after buying an additional 123 shares during the period. Cygnus Capital Advisors LLC lifted its stake in Workday by 14.5% in the second quarter. Cygnus Capital Advisors LLC now owns 24,960 shares of the software maker's stock valued at $3,056,000 after buying an additional 3,160 shares during the last quarter. Finally, California State Teachers Retirement System boosted its holdings in shares of Workday by 11,770.8% in the second quarter. California State Teachers Retirement System now owns 36,907,426 shares of the software maker's stock valued at $4,518,207,000 after acquiring an additional 36,596,516 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on WDAY shares. Guggenheim reiterated a "buy" rating and issued a $275.00 price target on shares of Workday in a research report on Friday, August 21st. Jefferies Financial Group set a $220.00 target price on shares of Workday in a report on Friday, August 28th. Wolfe Research reissued an "outperform" rating and set a $160.00 price target on shares of Workday in a report on Friday, May 22nd. Oppenheimer upped their price objective on Workday from $165.00 to $220.00 and gave the company an "outperform" rating in a research note on Monday, August 24th. Finally, Barclays lifted their target price on Workday from $200.00 to $224.00 and gave the company an "overweight" rating in a research note on Friday, August 28th. Twenty analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $206.34.

Workday Stock Down 4.9%

WDAY opened at $186.28 on Wednesday. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. 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 $44.89 billion, a P/E ratio of 37.79, a P/E/G ratio of 1.98 and a beta of 1.08. The business has a 50 day simple moving average of $168.73 and a 200-day simple moving average of $143.28.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data 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 analyst estimates of $2.64 billion. During the same quarter in the prior year, the company posted $2.21 earnings per share. Workday's quarterly revenue was up 12.8% on a year-over-year basis. On average, equities analysts anticipate that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the sale, the chief financial officer owned 288,460 shares of the company's stock, valued at approximately $41,451,702. The trade was a 2.04% decrease in their ownership of the stock. The transaction 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, insider Gerrit S. Kazmaier sold 2,728 shares of the company's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total transaction of $391,795.36. Following the transaction, the insider owned 266,388 shares in the company, valued at $38,258,644.56. The trade was a 1.01% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last quarter, insiders sold 754,981 shares of company stock valued at $101,916,181. Company insiders own 18.64% of the company's stock.

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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