New Age Alpha Advisors LLC Purchases New Stake in Workday, Inc. $WDAY

Key Points

• New Age Alpha Advisors LLC opened a new position in Workday during the fourth quarter, buying 19,196 shares worth about $4.12 million.
• Institutional interest in Workday remains strong, with several large investors increasing their holdings; the article notes that 89.81% of the stock is owned by institutions and hedge funds.
• Workday reported better-than-expected quarterly results, including EPS of $2.66 versus estimates of $2.51 and revenue of $2.54 billion, while analysts currently rate the stock a Moderate Buy with an average price target of $189.48.

New Age Alpha Advisors LLC purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 19,196 shares of the software maker's stock, valued at approximately $4,123,000.

Several other large investors have also recently bought and sold shares of the business. Vanguard Group Inc. raised its position in Workday by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker's stock valued at $5,371,495,000 after buying an additional 3,210,232 shares during the period. State Street Corp increased its position in Workday by 0.8% in the 3rd quarter. State Street Corp now owns 9,674,568 shares of the software maker's stock worth $2,328,959,000 after purchasing an additional 74,052 shares during the last quarter. Hotchkis & Wiley Capital Management LLC increased its position in Workday by 47.5% in the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker's stock worth $1,406,463,000 after purchasing an additional 1,882,391 shares during the last quarter. First Eagle Investment Management LLC increased its position in Workday by 87.8% in the 4th quarter. First Eagle Investment Management LLC now owns 4,338,773 shares of the software maker's stock worth $931,882,000 after purchasing an additional 2,028,085 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Workday by 41.5% in the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker's stock worth $905,530,000 after purchasing an additional 1,103,421 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Workday news, insider Robert Enslin sold 5,373 shares of the firm's stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $129.41, for a total value of $695,319.93. Following the completion of the sale, the insider owned 165,414 shares in the company, valued at approximately $21,406,225.74. This trade represents a 3.15% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through 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, insider Gerrit S. Kazmaier sold 9,356 shares of the firm's stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total value of $1,201,216.84. Following the completion of the sale, the insider 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 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. In the last three months, insiders have sold 989,814 shares of company stock worth $131,576,291. 18.64% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research analysts have weighed in on the company. Weiss Ratings lowered Workday from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 20th. Loop Capital set a $210.00 price target on Workday in a research note on Thursday, March 12th. Wells Fargo & Company upped their price target on Workday from $180.00 to $185.00 and gave the stock an "overweight" rating in a research note on Friday. The Goldman Sachs Group decreased their price target on Workday from $238.00 to $206.00 and set a "neutral" rating for the company in a research note on Wednesday, February 25th. Finally, Wall Street Zen upgraded Workday from a "hold" rating to a "buy" rating in a research note on Saturday, March 28th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, Workday currently has an average rating of "Moderate Buy" and an average price target of $189.48.

Workday Price Performance

Shares of WDAY stock opened at $128.14 on Tuesday. The stock has a 50 day moving average of $125.79 and a two-hundred day moving average of $168.05. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $257.09. The company has a market capitalization of $32.93 billion, a P/E ratio of 40.04, a P/E/G ratio of 1.24 and a beta of 1.04.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping analysts' consensus estimates of $2.51 by $0.15. Workday had a return on equity of 13.92% and a net margin of 8.60%.The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the company earned $2.23 EPS. The company's quarterly revenue was up 13.5% on a year-over-year basis. As a group, equities analysts expect that Workday, Inc. will post 5.12 EPS for the current 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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