Leonteq Securities AG Increases Position in Workday, Inc. $WDAY

Key Points

• Leonteq Securities AG boosted its Workday stake by 270.4% in the first quarter, ending with 19,363 shares valued at about $2.52 million.
• Workday reported strong quarterly results, with EPS of $2.66 and revenue of $2.54 billion, both above analyst expectations, while revenue rose 13.5% year over year.
• Analysts remain cautiously positive: the stock carries a Moderate Buy consensus rating with an average price target of $184, though some firms still have hold or sell views.

Leonteq Securities AG increased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 270.4% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 19,363 shares of the software maker's stock after acquiring an additional 14,136 shares during the quarter. Leonteq Securities AG's holdings in Workday were worth $2,516,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in shares of Workday during the second quarter worth $25,000. Measured Wealth Private Client Group LLC acquired a new position in Workday in the third quarter valued at $26,000. DT Investment Partners LLC purchased a new position in Workday during the fourth quarter worth about $27,000. LRI Investments LLC acquired a new stake in Workday in the 4th quarter worth about $29,000. Finally, JPL Wealth Management LLC purchased a new stake in Workday in the 3rd quarter valued at about $30,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Performance

Workday stock opened at $135.40 on Friday. The firm has a market capitalization of $33.44 billion, a PE ratio of 42.31, a price-to-earnings-growth ratio of 1.39 and a beta of 1.11. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85. The stock's 50 day moving average price is $127.58 and its 200 day moving average price is $149.94. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) 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 net margin of 8.60% and a return on equity of 14.75%. Workday's revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter last year, the company earned $2.23 earnings per share. As a group, sell-side analysts expect that Workday, Inc. will post 5.34 EPS for the current fiscal year.

Insider Activity

In other Workday news, insider Gerrit S. Kazmaier sold 9,356 shares of the company's stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the completion of the transaction, the insider directly owned 165,074 shares of the company's stock, valued at $21,193,850.86. This represents a 5.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 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 firm's stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total value of $769,320.00. Following the sale, the chief financial officer owned 217,930 shares of the company's stock, valued at $27,942,984.60. This represents a 2.68% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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. Insiders sold a total of 882,314 shares of company stock valued at $111,443,691 in the last 90 days. Company insiders own 18.64% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on WDAY. Sanford C. Bernstein reaffirmed an "outperform" rating and set a $216.00 price objective on shares of Workday in a research note on Friday, May 22nd. TD Cowen reaffirmed a "hold" rating on shares of Workday in a research report on Friday, May 22nd. BTIG Research reaffirmed a "buy" rating and set a $175.00 price target on shares of Workday in a research note on Monday, May 18th. Citigroup reiterated a "market perform" rating on shares of Workday in a report on Friday, May 22nd. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Workday in a research note on Wednesday, June 17th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and a consensus price target of $184.00.

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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