HB Wealth Management LLC Increases Stake in Workday, Inc. $WDAY

HB Wealth Management LLC raised its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 181.0% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 20,328 shares of the software maker's stock after acquiring an additional 13,094 shares during the quarter. HB Wealth Management LLC's holdings in Workday were worth $2,489,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Auto Owners Insurance Co boosted its holdings in Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock worth $2,197,332,000 after buying an additional 10,190,516 shares in the last quarter. Janus Henderson Group PLC grew its position in shares of Workday by 101.4% during the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker's stock valued at $1,077,537,000 after acquiring an additional 2,525,821 shares during the period. Norges Bank acquired a new stake in shares of Workday during the 4th quarter valued at about $448,804,000. First Eagle Investment Management LLC increased its position in shares of Workday by 87.8% in the fourth quarter. First Eagle Investment Management LLC now owns 4,338,773 shares of the software maker's stock valued at $931,882,000 after buying an additional 2,028,085 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in shares of Workday by 47.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker's stock valued at $1,406,463,000 after buying an additional 1,882,391 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, CAO Mark S. Garfield sold 918 shares of the company's stock in a transaction on 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 owned 73,718 shares of the company's stock, valued at $10,481,962.42. This represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Enslin sold 5,374 shares of the firm's stock in a transaction dated Sunday, July 5th. The stock was sold at an average price of $134.90, for a total value of $724,952.60. Following the sale, the insider directly owned 239,469 shares of the company's stock, valued at $32,304,368.10. The trade was a 2.19% 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 have sold 754,981 shares of company stock worth $101,916,181. 18.64% of the stock is owned by company insiders.

Workday Trading Down 4.9%

Shares of Workday stock 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. The stock's 50 day simple moving average is $168.73 and its 200-day simple moving average is $143.28. The stock has a market cap 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. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $249.85.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 EPS 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 last year, the business posted $2.21 earnings per share. The firm's revenue was up 12.8% compared to the same quarter last year. Analysts predict that Workday, Inc. will post 5.3 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research firms have weighed in on WDAY. Citigroup upped their price objective on shares of Workday from $139.00 to $201.00 and gave the stock a "neutral" rating in a research report on Friday, August 28th. Capital One Financial set a $219.00 price target on shares of Workday and gave the company an "equal weight" rating in a research note on Friday, August 28th. Wall Street Zen upgraded Workday from a "hold" rating to a "buy" rating in a report on Saturday. Stifel Nicolaus raised their target price on Workday from $115.00 to $160.00 and gave the company a "hold" rating in a research report on Friday, August 28th. Finally, Oppenheimer boosted their price target on Workday from $165.00 to $220.00 and gave the stock an "outperform" rating in a research report on Monday, August 24th. Twenty equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the company's stock. Based on data from MarketBeat, Workday has an average rating of "Hold" and a consensus target price of $206.34.

Workday Company 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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