Nilsine Partners LLC Acquires 20,019 Shares of Workday, Inc. $WDAY

Key Points

• Nilsine Partners increased its Workday stake by 1,121.5% in the second quarter, acquiring 20,019 shares for a total holding of 21,804 shares valued at approximately $2.67 million. Institutional investors own 89.81% of the company.
• Workday reported quarterly earnings of $2.75 per share, beating estimates of $2.61, while revenue rose 12.8% year over year to $2.65 billion. Shares were trading at $195.79 after a reported 5.4% decline.
• Analysts raised several price targets following the earnings report, with a consensus target of $206.34 and an overall “Hold” rating. Meanwhile, insiders sold 862,481 shares worth approximately $116.8 million over the past three months.

Nilsine Partners LLC increased its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 1,121.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 21,804 shares of the software maker's stock after buying an additional 20,019 shares during the quarter. Nilsine Partners LLC's holdings in Workday were worth $2,669,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Rakuten Securities Inc. bought a new stake in shares of Workday during the 2nd quarter valued at $25,000. Measured Wealth Private Client Group LLC bought a new position in Workday in the 3rd quarter worth $26,000. DT Investment Partners LLC purchased a new position in Workday during the fourth quarter valued at $27,000. LRI Investments LLC bought a new stake in Workday during the fourth quarter valued at about $29,000. Finally, JPL Wealth Management LLC purchased a new stake in Workday in the third quarter worth about $30,000. 89.81% of the stock is currently owned by institutional investors.

Insider Activity at Workday

In other news, insider Robert Enslin sold 5,374 shares of the stock in a transaction that occurred on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the transaction, the insider directly owned 239,469 shares in the company, valued at approximately $32,304,368.10. This represents a 2.19% decrease in their position. The transaction 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, major shareholder David Duffield sold 107,500 shares of the business's stock in a transaction on Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the completion of the sale, the insider owned 105,049 shares in the company, valued at $12,820,179.96. This represents a 50.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 862,481 shares of company stock valued at $116,785,581. Insiders own 18.64% of the company's stock.

Workday Trading Down 5.4%

Shares of WDAY opened at $195.79 on Friday. The firm has a market cap of $48.36 billion, a P/E ratio of 39.71, a price-to-earnings-growth ratio of 1.98 and a beta of 1.08. 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 1 year low of $110.36 and a 1 year high of $249.85. The company has a 50 day simple moving average of $166.01 and a two-hundred day simple moving average of $142.61.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results 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. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.64 billion. Workday had a net margin of 12.32% and a return on equity of 20.95%. Workday's revenue for the quarter was up 12.8% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.21 earnings per share. On average, equities analysts expect that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WDAY shares. Summit Redstone set a $275.00 price objective on Workday in a research report on Wednesday, May 27th. Needham & Company LLC raised their target price on shares of Workday from $180.00 to $230.00 and gave the stock a "buy" rating in a research note on Friday, August 28th. Sanford C. Bernstein lifted their price target on shares of Workday from $216.00 to $238.00 and gave the company an "outperform" rating in a report on Friday, August 28th. DA Davidson upped their price target on shares of Workday from $135.00 to $190.00 and gave the stock a "neutral" rating in a research report on Friday, August 28th. Finally, KeyCorp increased their price objective on shares of Workday from $158.00 to $215.00 and gave the stock an "overweight" rating in a research note on Friday, August 28th. Twenty investment analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat.com, the stock presently 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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