Nisa Investment Advisors LLC Purchases 14,836 Shares of Workday, Inc. $WDAY

Key Points

• Nisa Investment Advisors increased its Workday stake by 153.6% in the third quarter, purchasing 14,836 additional shares and bringing its holdings to 24,497 shares valued at approximately $4.7 million.
• Institutional investors own 89.81% of Workday, while insiders have been selling; major shareholder David Duffield sold 100,780 shares, and insiders sold nearly 988,104 shares worth $188.8 million during the last quarter.
• Workday reported quarterly revenue of $2.65 billion and EPS of $2.75, exceeding estimates, with revenue up 12.8% year over year. Analysts have a consensus “Hold” rating and an average price target of $202.10.

Nisa Investment Advisors LLC increased its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 153.6% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 24,497 shares of the software maker's stock after purchasing an additional 14,836 shares during the period. Nisa Investment Advisors LLC's holdings in Workday were worth $4,666,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pictet Asset Management Holding SA grew its position in shares of Workday by 8.7% in the 1st quarter. Pictet Asset Management Holding SA now owns 2,803,568 shares of the software maker's stock worth $364,217,000 after buying an additional 223,493 shares during the period. First Trust Advisors LP increased its stake in shares of Workday by 9.6% during the first quarter. First Trust Advisors LP now owns 1,416,176 shares of the software maker's stock valued at $183,990,000 after purchasing an additional 124,524 shares in the last quarter. Tidal Investments LLC increased its stake in shares of Workday by 43.6% during the second quarter. Tidal Investments LLC now owns 1,439,456 shares of the software maker's stock valued at $176,218,000 after purchasing an additional 437,175 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in shares of Workday by 60.4% during the first quarter. Pacer Advisors Inc. now owns 1,227,051 shares of the software maker's stock valued at $159,418,000 after purchasing an additional 462,002 shares during the last quarter. Finally, Temasek Holdings Private Ltd lifted its holdings in shares of Workday by 9.5% during the first quarter. Temasek Holdings Private Ltd now owns 889,318 shares of the software maker's stock valued at $115,540,000 after purchasing an additional 77,330 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other news, major shareholder David Duffield sold 100,780 shares of the firm's stock in a transaction dated Thursday, September 10th. The shares were sold at an average price of $185.64, for a total transaction of $18,708,799.20. Following the sale, the insider owned 105,049 shares of the company's stock, valued at $19,501,296.36. This trade represents a 48.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 988,104 shares of company stock worth $188,811,574. 18.64% of the stock is currently owned by corporate insiders.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $209.99 on Friday. The company has a market cap of $50.61 billion, a P/E ratio of 34.31, a PEG ratio of 2.11 and a beta of 1.07. 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 $247.10. The stock's fifty day moving average price is $193.30 and its 200-day moving average price is $156.25.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, beating the consensus estimate of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%. The company had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.64 billion. During the same period last year, the firm posted $2.21 earnings per share. Workday's revenue was up 12.8% compared to the same quarter last year. Sell-side analysts expect that Workday, Inc. will post 5.32 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently issued reports on WDAY. Rothschild & Co Redburn lifted their price target on Workday from $210.00 to $250.00 and gave the stock a "neutral" rating in a research report on Monday, August 17th. Stifel Nicolaus increased their price objective on shares of Workday from $160.00 to $175.00 and gave the company a "hold" rating in a research report on Thursday, October 15th. Wells Fargo & Company raised their price objective on shares of Workday from $215.00 to $225.00 and gave the company an "overweight" rating in a research note on Friday, August 28th. Lake Street Capital set a $205.00 target price on shares of Workday in a report on Friday, August 14th. Finally, BNP Paribas Exane lifted their target price on shares of Workday from $160.00 to $220.00 and gave the stock an "outperform" rating in a report on Friday, August 28th. Twenty-two analysts have rated the stock with a Buy rating, twenty have given a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Hold" and a consensus price target of $202.10.

Workday Company Profile

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company's products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.

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