SG Americas Securities LLC Purchases 102,787 Shares of Workday, Inc. $WDAY

Key Points

• SG Americas Securities LLC increased its Workday stake by 117.7% in the first quarter, buying 102,787 additional shares and bringing its total holdings to 190,109 shares worth about $24.7 million.
• Institutional ownership remains high, with 89.81% of Workday’s stock held by institutional investors and hedge funds. Several large firms, including Vanguard and Janus Henderson, also reported significant position increases.
• Insiders have been selling shares over the past 90 days, including major shareholder David A. Duffield and insider Robert Enslin, with total insider sales reaching 774,814 shares worth nearly $99.8 million.

SG Americas Securities LLC grew its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 117.7% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 190,109 shares of the software maker's stock after acquiring an additional 102,787 shares during the period. SG Americas Securities LLC owned 0.07% of Workday worth $24,699,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of WDAY. Auto Owners Insurance Co boosted its stake in Workday by 25,412.8% in 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 purchasing an additional 10,190,516 shares in the last quarter. Vanguard Group Inc. increased its holdings in shares of Workday by 14.7% in 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 purchasing an additional 3,210,232 shares in the last quarter. Janus Henderson Group PLC raised its position in Workday by 101.4% in the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker's stock worth $1,077,537,000 after purchasing an additional 2,525,821 shares during the last quarter. First Eagle Investment Management LLC acquired a new position in Workday during the 3rd quarter worth $556,252,000. Finally, Norges Bank acquired a new position in Workday during the 4th quarter worth $448,804,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In other Workday news, insider Robert Enslin sold 5,373 shares of the business's stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $129.41, for a total transaction of $695,319.93. Following the sale, the insider directly owned 165,414 shares of the company's stock, valued at $21,406,225.74. The trade was a 3.15% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. 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 A. Duffield sold 107,500 shares of the stock in a transaction dated Monday, June 22nd. The stock was sold at an average price of $114.25, for a total transaction of $12,281,875.00. Following the transaction, the insider owned 105,049 shares of the company's stock, valued at approximately $12,001,848.25. This represents a 50.58% 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. Over the last ninety days, insiders have sold 774,814 shares of company stock worth $99,846,591. Company insiders own 18.64% of the company's stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Mizuho lowered their target price on Workday from $275.00 to $210.00 and set an "outperform" rating for the company in a research note on Wednesday, February 25th. Jefferies Financial Group upped their price target on Workday from $115.00 to $140.00 and gave the company a "hold" rating in a research note on Friday, May 22nd. Cantor Fitzgerald reaffirmed an "overweight" rating on shares of Workday in a research note on Wednesday, June 17th. Citigroup reaffirmed a "market perform" rating on shares of Workday in a research note on Friday, May 22nd. Finally, Sanford C. Bernstein restated an "outperform" rating and set a $216.00 target price on shares of Workday in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and a consensus price target of $185.03.

Workday Stock Performance

WDAY opened at $118.10 on Thursday. The company has a market capitalization of $29.17 billion, a price-to-earnings ratio of 36.91, a P/E/G ratio of 1.23 and a beta of 1.09. The business's 50-day moving average price is $127.54 and its two-hundred day moving average price is $154.06. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company earned $2.23 earnings per share. Workday's quarterly revenue was up 13.5% on a year-over-year basis. Equities analysts expect that Workday, Inc. will post 5.34 EPS for the current fiscal year.

Workday 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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