Sienna Gestion Purchases Shares of 36,214 Workday, Inc. $WDAY

Key Points

• Sienna Gestion acquired 36,214 shares of Workday in the 3rd quarter, a new position valued at roughly $7.95 million.
• Several large institutions (Vanguard, State Street, Geode, Parnassus and Generation Investment Management) increased their stakes, and institutional investors now own about 89.81% of Workday.
• Company insiders have been net sellers recently—selling 395,796 shares worth $75.9 million in the last quarter (including sales by CFO Zane Rowe and Gerrit Kazmaier)—though insiders still own about 20% of the stock.

Sienna Gestion acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 36,214 shares of the software maker's stock, valued at approximately $7,948,000.

A number of other large investors have also made changes to their positions in WDAY. Vanguard Group Inc. grew its position in Workday by 3.2% during the third quarter. Vanguard Group Inc. now owns 21,799,056 shares of the software maker's stock worth $5,247,687,000 after buying an additional 684,872 shares in the last quarter. State Street Corp raised its holdings in Workday by 3.3% in the 2nd quarter. State Street Corp now owns 9,600,516 shares of the software maker's stock valued at $2,304,124,000 after acquiring an additional 303,713 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of Workday by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker's stock worth $1,183,112,000 after acquiring an additional 140,042 shares during the period. Parnassus Investments LLC lifted its position in shares of Workday by 13.1% in the 3rd quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker's stock worth $774,478,000 after acquiring an additional 371,561 shares during the period. Finally, Generation Investment Management LLP grew its holdings in shares of Workday by 50.4% during the 3rd quarter. Generation Investment Management LLP now owns 3,087,395 shares of the software maker's stock worth $743,229,000 after purchasing an additional 1,034,589 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Transactions at Workday

In related news, CFO Zane Rowe sold 6,000 shares of the company's stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the transaction, the chief financial officer owned 159,158 shares in the company, valued at $33,224,232.50. This represents a 3.63% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Gerrit S. Kazmaier sold 6,547 shares of the firm's stock in a transaction dated Friday, December 19th. The shares were sold at an average price of $218.77, for a total transaction of $1,432,287.19. Following the completion of the sale, the insider owned 111,353 shares of the company's stock, valued at $24,360,695.81. The trade was a 5.55% decrease in their position. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 395,796 shares of company stock worth $75,909,516. 20.00% of the stock is owned by company insiders.

Workday Trading Up 2.6%

Shares of Workday stock opened at $151.04 on Monday. Workday, Inc. has a 12-month low of $117.76 and a 12-month high of $276.00. The stock has a market capitalization of $39.72 billion, a P/E ratio of 58.54, a price-to-earnings-growth ratio of 1.47 and a beta of 1.17. The company has a 50-day simple moving average of $172.17 and a 200 day simple moving average of $208.84. The company has a quick ratio of 1.83, a current ratio of 1.32 and a debt-to-equity ratio of 0.38.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, topping the consensus estimate of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The firm had revenue of $2.53 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the prior year, the firm earned $1.92 earnings per share. The company's quarterly revenue was up 14.5% compared to the same quarter last year. Research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research analysts recently commented on the company. Citigroup cut their target price on Workday from $247.00 to $148.00 and set a "neutral" rating for the company in a research note on Thursday, February 26th. Oppenheimer decreased their price target on shares of Workday from $200.00 to $165.00 and set an "outperform" rating on the stock in a research note on Wednesday, February 25th. Citizens Jmp lowered shares of Workday from an "outperform" rating to a "market perform" rating in a report on Wednesday, February 18th. Rosenblatt Securities dropped their price objective on shares of Workday from $180.00 to $150.00 and set a "buy" rating for the company in a research note on Wednesday, February 25th. Finally, KeyCorp reduced their price objective on shares of Workday from $260.00 to $155.00 and set an "overweight" rating for the company in a report on Wednesday, February 25th. Twenty equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. Based on data from MarketBeat, Workday currently has a consensus rating of "Moderate Buy" and a consensus price target of $205.19.

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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