Stevens Capital Management LP Grows Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Key Points

• Stevens Capital Management LP increased its stake in Workday, Inc. by 41.9%, owning 6,593 shares valued at approximately $1.54 million following the purchase of 1,947 additional shares during the first quarter.
• Workday's reported earnings per share (EPS) of $2.23 for the most recent quarter exceeded analyst expectations of $2.01, with a revenue of $2.24 billion, marking a 12.6% year-over-year increase.
• Institutional investors own 89.81% of Workday's stock, with recent trading activity including significant insider sales by the CAO and CFO, indicating notable movements among company executives.

Stevens Capital Management LP grew its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 41.9% during the 1st quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 6,593 shares of the software maker's stock after purchasing an additional 1,947 shares during the period. Stevens Capital Management LP's holdings in Workday were worth $1,540,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in the company. T. Rowe Price Investment Management Inc. bought a new stake in shares of Workday in the 4th quarter valued at about $658,735,000. Norges Bank bought a new position in Workday in the fourth quarter valued at approximately $645,710,000. Geode Capital Management LLC boosted its holdings in shares of Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after buying an additional 1,772,223 shares during the period. The Manufacturers Life Insurance Company increased its position in shares of Workday by 60.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock worth $960,454,000 after acquiring an additional 1,406,088 shares in the last quarter. Finally, Invesco Ltd. lifted its holdings in shares of Workday by 102.6% in the fourth quarter. Invesco Ltd. now owns 1,855,778 shares of the software maker's stock valued at $478,846,000 after purchasing an additional 939,955 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Price Performance

WDAY traded down $3.75 on Monday, reaching $237.99. The company had a trading volume of 1,075,032 shares, compared to its average volume of 2,258,859. The business has a 50 day simple moving average of $242.57 and a 200 day simple moving average of $246.62. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. The company has a market cap of $63.54 billion, a price-to-earnings ratio of 131.49, a P/E/G ratio of 3.65 and a beta of 1.21. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The business's revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $1.74 earnings per share. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Ratings Changes

A number of research firms recently issued reports on WDAY. Loop Capital lowered their target price on Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a research report on Friday, May 23rd. Needham & Company LLC reiterated a "buy" rating and set a $300.00 price objective on shares of Workday in a research report on Wednesday, May 21st. Westpark Capital boosted their price objective on shares of Workday from $315.00 to $328.00 and gave the company a "buy" rating in a report on Friday, May 23rd. Citigroup downgraded shares of Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. Finally, Jefferies Financial Group dropped their price objective on Workday from $350.00 to $325.00 and set a "buy" rating for the company in a report on Monday, March 31st. One analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $296.88.

Insider Activity

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction dated Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the sale, the chief executive officer owned 1,472 shares of the company's stock, valued at approximately $352,440.96. The trade was a 80.94% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 451 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total transaction of $105,921.86. Following the completion of the transaction, the chief accounting officer directly owned 42,977 shares of the company's stock, valued at $10,093,578.22. This represents a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 329,005 shares of company stock valued at $79,203,523. 19.31% of the stock is currently owned by insiders.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.