Mondrian Investment Partners LTD Acquires 18,045 Shares of Workday, Inc. (NASDAQ:WDAY)

Key Points

• Mondrian Investment Partners LTD increased its stake in Workday, Inc. by 30.1%, acquiring an additional 18,045 shares, bringing their total ownership to 78,074 shares valued at approximately $18.23 million.
• Other institutional investors, including Vanguard Group Inc. and The Manufacturers Life Insurance Company, have also recently increased their holdings in Workday, contributing to a total institutional ownership of 89.81% of the company's stock.
• Workday's shares opened at $214.60 with a market cap of $57.30 billion, and the company reported a Q1 earnings of $2.23 per share, exceeding analyst expectations.

Mondrian Investment Partners LTD increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 30.1% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 78,074 shares of the software maker's stock after purchasing an additional 18,045 shares during the quarter. Mondrian Investment Partners LTD's holdings in Workday were worth $18,233,000 as of its most recent SEC filing.

Several other large investors have also added to or reduced their stakes in WDAY. Cornerstone Planning Group LLC boosted its holdings in Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock worth $28,000 after purchasing an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new position in Workday during the first quarter worth $32,000. Financial Management Professionals Inc. boosted its holdings in Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after purchasing an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new position in Workday during the first quarter worth $40,000. Finally, BankPlus Trust Department acquired a new position in Workday during the first quarter worth $40,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Westpark Capital upped their price target on shares of Workday from $315.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Oppenheimer cut their price target on shares of Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. Piper Sandler reiterated an "underweight" rating and issued a $235.00 price target (down previously from $255.00) on shares of Workday in a research note on Thursday, July 10th. Wall Street Zen upgraded shares of Workday from a "hold" rating to a "buy" rating in a research note on Sunday, July 13th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $315.00 price target on shares of Workday in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and an average target price of $294.31.

Insiders Place Their Bets

In related news, CAO Mark S. Garfield sold 451 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the completion of the transaction, the chief accounting officer owned 42,977 shares of the company's stock, valued at $10,093,578.22. The trade was a 1.04% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total value of $1,496,437.50. Following the completion of the transaction, the chief executive officer directly owned 1,472 shares of the company's stock, valued at approximately $352,440.96. This trade represents a 80.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 329,005 shares of company stock valued at $79,203,523 over the last 90 days. 19.31% of the stock is owned by company insiders.

Workday Stock Performance

Shares of Workday stock traded down $1.15 during trading on Thursday, reaching $221.92. The company's stock had a trading volume of 3,254,754 shares, compared to its average volume of 2,875,696. The business's 50-day moving average price is $235.20 and its 200-day moving average price is $244.18. The firm has a market cap of $59.25 billion, a PE ratio of 122.61, a P/E/G ratio of 3.37 and a beta of 1.24. Workday, Inc. has a 52 week low of $205.33 and a 52 week high of $294.00. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. The company had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. Workday's quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.74 earnings per share. Equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Workday Profile

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.