Workday, Inc. $WDAY Position Raised by Epoch Investment Partners Inc.

Key Points

• Epoch Investment Partners more than doubled its Workday stake in Q4, buying an additional 54,088 shares and bringing its total holdings to 103,917 shares worth about $22.3 million.
• Several other institutions also adjusted positions in Workday, and 89.81% of the stock is now owned by institutional investors.
• Workday beat quarterly expectations, posting $2.66 EPS on $2.54 billion in revenue, while analysts currently rate the stock Moderate Buy with an average price target of $185.03.

Epoch Investment Partners Inc. raised its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 108.5% during the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 103,917 shares of the software maker's stock after buying an additional 54,088 shares during the quarter. Epoch Investment Partners Inc.'s holdings in Workday were worth $22,319,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Brighton Jones LLC raised its stake in shares of Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock valued at $1,033,000 after purchasing an additional 2,792 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Workday by 12.1% during the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker's stock valued at $2,602,000 after purchasing an additional 1,206 shares in the last quarter. Geneos Wealth Management Inc. raised its stake in shares of Workday by 211.7% during the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker's stock valued at $44,000 after purchasing an additional 127 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Workday during the second quarter valued at about $281,000. Finally, NewEdge Advisors LLC raised its stake in shares of Workday by 32.0% during the second quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker's stock valued at $1,583,000 after purchasing an additional 1,600 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on WDAY. Rosenblatt Securities cut their price objective on shares of Workday from $180.00 to $150.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. TD Cowen restated a "hold" rating on shares of Workday in a research note on Friday, May 22nd. JPMorgan Chase & Co. cut their price objective on shares of Workday from $270.00 to $230.00 and set an "overweight" rating on the stock in a research note on Tuesday, February 24th. DA Davidson set a $135.00 price objective on shares of Workday in a research note on Tuesday, May 26th. Finally, Summit Redstone set a $275.00 price objective on shares of Workday in a research note on Wednesday, May 27th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $185.03.

Insider Transactions at Workday

In other Workday news, CAO Mark S. Garfield sold 1,585 shares of the business's stock in a transaction dated Friday, April 10th. The shares were sold at an average price of $113.05, for a total value of $179,184.25. Following the sale, the chief accounting officer directly owned 31,467 shares in the company, valued at approximately $3,557,344.35. The trade was a 4.80% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $128.22, for a total value of $769,320.00. Following the completion of the transaction, the chief financial officer directly owned 217,930 shares in the company, valued at $27,942,984.60. This represents a 2.68% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 774,814 shares of company stock valued at $102,709,316 in the last quarter. 18.64% of the stock is owned by company insiders.

Workday Price Performance

Shares of Workday stock opened at $130.80 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company's 50-day moving average price is $128.10 and its two-hundred day moving average price is $159.55. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The stock has a market cap of $32.31 billion, a PE ratio of 40.88, a price-to-earnings-growth ratio of 1.39 and a beta of 1.09.

Workday (NASDAQ:WDAY - Get Free Report) last issued 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 firm had revenue of $2.54 billion for the quarter, compared to analysts' expectations of $2.52 billion. During the same period in the previous year, the business earned $2.23 earnings per share. Workday's revenue for the quarter was up 13.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that Workday, Inc. will post 5.4 EPS for the current fiscal year.

Workday Company 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.

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