VestGen Advisors LLC Acquires New Shares in Workday, Inc. $WDAY

Key Points

• VestGen Advisors acquired 62,456 Workday shares in the third quarter, valued at approximately $11.9 million. Institutional investors collectively own 89.81% of the company.
• Workday reported quarterly adjusted earnings of $2.75 per share, exceeding estimates by $0.14, while revenue rose 12.8% year over year to $2.65 billion.
• Analyst sentiment remains mixed: Workday has a consensus “Hold” rating and an average price target of $202.10, while insiders sold nearly 988,104 shares worth about $188.8 million during the quarter.

VestGen Advisors LLC acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 62,456 shares of the software maker's stock, valued at approximately $11,895,000.

Several other large investors have also bought and sold shares of WDAY. CoreCap Advisors LLC grew its position in Workday by 55.9% during the third quarter. CoreCap Advisors LLC now owns 173 shares of the software maker's stock valued at $33,000 after buying an additional 62 shares during the period. Western Wealth Management LLC bought a new stake in Workday during the 1st quarter valued at $39,000. Manning & Napier Advisors LLC purchased a new stake in Workday during the 2nd quarter worth about $42,000. Elevation Wealth Partners LLC lifted its holdings in shares of Workday by 1,097.0% in the second quarter. Elevation Wealth Partners LLC now owns 395 shares of the software maker's stock worth $48,000 after buying an additional 362 shares in the last quarter. Finally, Parkside Financial Bank & Trust boosted its holdings in Workday by 26.3% in the 2nd quarter. Parkside Financial Bank & Trust now owns 591 shares of the software maker's stock valued at $72,000 after purchasing an additional 123 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Workday Trading Down 0.5%

NASDAQ:WDAY opened at $204.36 on Thursday. The firm has a market capitalization of $49.25 billion, a P/E ratio of 41.45, 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 one year low of $110.36 and a one year high of $241.32. The company's 50-day simple moving average is $194.12 and its 200 day simple moving average is $156.41.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, beating analysts' consensus estimates of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The business had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same quarter last year, the firm earned $2.21 earnings per share. The business's revenue for the quarter was up 12.8% on a year-over-year basis. As a group, analysts forecast that Workday, Inc. will post 5.32 EPS for the current fiscal year.

Analyst Ratings Changes

WDAY has been the subject of several recent analyst reports. Wall Street Zen raised Workday from a "hold" rating to a "buy" rating in a report on Saturday, September 5th. Morgan Stanley lifted their price objective on Workday from $145.00 to $180.00 and gave the stock an "underweight" rating in a report on Friday, August 28th. Evercore upped their price target on shares of Workday from $160.00 to $215.00 in a report on Thursday, October 8th. CLSA started coverage on Workday in a report on Monday, July 20th. They issued an "underperform" rating and a $92.00 price objective for the company. Finally, Mizuho set a $210.00 target price on shares of Workday in a research report on Wednesday, October 14th. Twenty-two equities research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and two have given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $202.10.

Insider Transactions at Workday

In related news, major shareholder David Duffield sold 100,780 shares of the 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 directly owned 105,049 shares of the company's stock, valued at approximately $19,501,296.36. This represents a 48.96% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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 valued at $188,811,574. Insiders own 18.64% of the company's stock.

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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