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Invesco Ltd. Purchases 125,956 Shares of Workday, Inc. (NASDAQ:WDAY)

Workday logo with Computer and Technology background

Key Points

  • Invesco Ltd. increased its holdings in Workday, Inc. by 6.8% in the first quarter, owning approximately 0.75% of the company's shares, valued at $462.8 million.
  • Many institutional investors, including T. Rowe Price and The Manufacturers Life Insurance Company, have significantly adjusted their stakes in Workday during recent quarters, contributing to 89.81% of total ownership by institutional investors.
  • Workday reported a strong EPS of $2.23 for the last quarter, exceeding analysts' expectations and achieving a 12.6% year-over-year revenue growth.
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Invesco Ltd. raised its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 6.8% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,981,734 shares of the software maker's stock after purchasing an additional 125,956 shares during the quarter. Invesco Ltd. owned approximately 0.75% of Workday worth $462,794,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock worth $1,033,000 after acquiring an additional 2,792 shares in the last quarter. Bank Pictet & Cie Europe AG boosted its stake in shares of Workday by 24.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker's stock worth $793,000 after acquiring an additional 595 shares in the last quarter. Advisory Services Network LLC boosted its stake in shares of Workday by 27.6% during the 4th quarter. Advisory Services Network LLC now owns 703 shares of the software maker's stock worth $181,000 after acquiring an additional 152 shares in the last quarter. Martingale Asset Management L P bought a new stake in shares of Workday during the 4th quarter worth about $362,000. Finally, Bessemer Group Inc. boosted its stake in shares of Workday by 20.7% during the 4th quarter. Bessemer Group Inc. now owns 3,279 shares of the software maker's stock worth $847,000 after acquiring an additional 563 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on WDAY shares. Loop Capital decreased their price target on Workday from $285.00 to $250.00 and set a "hold" rating for the company in a research note on Friday, May 23rd. Stifel Nicolaus cut their price objective on Workday from $310.00 to $275.00 and set a "hold" rating for the company in a research report on Friday, May 23rd. Wall Street Zen raised Workday from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. KeyCorp cut their price objective on Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Finally, Needham & Company LLC reissued a "buy" rating and set a $300.00 price objective on shares of Workday in a research report on Wednesday, May 21st. 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 assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Workday currently has a consensus rating of "Moderate Buy" and a consensus target price of $295.48.

View Our Latest Analysis on WDAY

Workday Price Performance

Shares of WDAY stock traded up $0.91 during trading hours on Tuesday, hitting $214.60. The company had a trading volume of 4,286,623 shares, compared to its average volume of 2,655,733. Workday, Inc. has a 12 month low of $205.33 and a 12 month high of $294.00. The firm has a market capitalization of $57.30 billion, a price-to-earnings ratio of 118.56, a PEG ratio of 3.23 and a beta of 1.24. The firm's fifty day moving average is $236.30 and its 200 day moving average is $244.62. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. Workday's revenue for the quarter was up 12.6% on a year-over-year basis. During the same period in the prior year, the company earned $1.74 EPS. On average, sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction that occurred on 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 sale, the chief executive officer directly owned 1,472 shares in the company, valued at $352,440.96. This represents a 80.94% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 451 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the sale, the chief accounting officer owned 42,977 shares in the company, valued at approximately $10,093,578.22. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 329,005 shares of company stock worth $79,203,523 over the last 90 days. Company insiders own 20.00% of the company's stock.

Workday Profile

(Free Report)

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.

See Also

Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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