Strategic Planning Inc. Purchases Shares of 45,328 Workday, Inc. $WDAY

Key Points

• Strategic Planning Inc. acquired 45,328 Workday shares worth approximately $5.9 million, making WDAY its ninth-largest holding and about 3% of its portfolio. Institutional investors and hedge funds collectively own 89.81% of Workday.
• Workday’s latest quarterly results exceeded expectations, with adjusted EPS of $2.66 versus the $2.51 consensus and revenue of $2.54 billion, up 13.5% year over year.
• Shares opened at $159.69, while analysts maintain a “Moderate Buy” consensus and an average price target of $179.80. Insiders sold approximately $113.9 million in stock over the last quarter, primarily under pre-arranged trading plans.

Strategic Planning Inc. acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm acquired 45,328 shares of the software maker's stock, valued at approximately $5,889,000. Workday makes up about 3.0% of Strategic Planning Inc.'s investment portfolio, making the stock its 9th largest position.

Other hedge funds also recently made changes to their positions in the company. Norges Bank bought a new stake in Workday during the fourth quarter worth approximately $448,804,000. Harvest Fund Management Co. Ltd grew its position in Workday by 40.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker's stock worth $11,943,000 after buying an additional 15,903 shares during the last quarter. Aurora Investment Counsel bought a new position in shares of Workday in the fourth quarter valued at $2,357,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Workday by 18.3% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker's stock valued at $122,804,000 after buying an additional 88,384 shares in the last quarter. Finally, Morningstar Investment Management LLC lifted its position in shares of Workday by 127.2% during the 4th quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker's stock valued at $5,808,000 after acquiring an additional 15,138 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Price Performance

Shares of WDAY opened at $159.69 on Wednesday. The business's 50-day moving average is $134.11 and its 200-day moving average is $140.56. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The company has a market capitalization of $39.44 billion, a price-to-earnings ratio of 49.90, a P/E/G ratio of 1.57 and a beta of 1.11. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business had revenue of $2.54 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same period last year, the company posted $2.23 earnings per share. The firm's quarterly revenue was up 13.5% compared to the same quarter last year. Equities research analysts expect that Workday, Inc. will post 5.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 107,500 shares of the company's stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $136.74, for a total value of $14,699,550.00. Following the transaction, the insider directly owned 105,049 shares of the company's stock, valued at approximately $14,364,400.26. This represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Mark S. Garfield sold 918 shares of the stock in a transaction on Friday, July 10th. The stock was sold at an average price of $142.19, for a total value of $130,530.42. Following the sale, the chief accounting officer owned 73,718 shares of the company's stock, valued at approximately $10,481,962.42. This represents a 1.23% 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 quarter, insiders have sold 875,020 shares of company stock worth $113,938,503. Insiders own 18.64% of the company's stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of recent research reports. Piper Sandler lifted their target price on Workday from $135.00 to $145.00 and gave the stock a "neutral" rating in a report on Friday, May 22nd. William Blair raised Workday to a "strong-buy" rating in a report on Friday, May 22nd. KeyCorp increased their price target on Workday from $155.00 to $158.00 and gave the company an "overweight" rating in a research report on Friday, May 22nd. Summit Redstone set a $275.00 price target on Workday in a research note on Wednesday, May 27th. Finally, Weiss Ratings reissued a "sell (d+)" rating on shares of Workday in a research note on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $179.80.

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.

Want to see what other hedge funds are holding WDAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workday, Inc. (NASDAQ:WDAY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.