Workday, Inc. $WDAY Shares Acquired by Brown Advisory Inc.

Key Points

• Brown Advisory Inc. increased its Workday stake by 39.7% in the fourth quarter, buying an additional 486,008 shares and bringing its holding to 1.71 million shares worth about $367.2 million.
• Workday reported better-than-expected quarterly results, with EPS of $2.66 versus estimates of $2.51 and revenue of $2.54 billion, up 13.5% year over year.
• Analyst sentiment remains constructive, with Workday carrying a Moderate Buy consensus rating and an average price target of $185.03, even as some firms have trimmed their targets.

Brown Advisory Inc. lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 39.7% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,709,736 shares of the software maker's stock after purchasing an additional 486,008 shares during the period. Brown Advisory Inc. owned 0.65% of Workday worth $367,217,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in WDAY. Rakuten Securities Inc. acquired a new position in shares of Workday during the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Workday during the 3rd quarter worth approximately $26,000. DT Investment Partners LLC acquired a new position in shares of Workday during the 4th quarter worth approximately $27,000. LRI Investments LLC acquired a new position in shares of Workday during the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Workday during the 3rd quarter worth approximately $30,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Trading Up 0.2%

WDAY opened at $130.80 on Friday. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85. The stock has a market capitalization of $32.31 billion, a PE ratio of 40.88, a P/E/G ratio of 1.39 and a beta of 1.09. The business's 50 day moving average price is $128.10 and its 200 day moving average price is $160.02. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating analysts' consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.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 prior year, the firm posted $2.23 earnings per share. The firm's quarterly revenue was up 13.5% on a year-over-year basis. As a group, equities research analysts expect that Workday, Inc. will post 5.4 EPS for the current year.

Insiders Place Their Bets

In other Workday news, insider Robert Enslin sold 5,373 shares of the company's stock in a transaction on Monday, April 6th. The stock was sold at an average price of $129.41, for a total transaction of $695,319.93. Following the transaction, the insider directly owned 165,414 shares in the company, valued at $21,406,225.74. This represents a 3.15% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 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. Also, major shareholder David A. Duffield sold 107,500 shares of the company's stock in a transaction on Tuesday, March 31st. The stock was sold at an average price of $129.76, for a total value of $13,949,200.00. Following the transaction, the insider owned 105,049 shares in the company, valued at $13,631,158.24. This trade represents a 50.58% 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 three months, insiders have sold 774,814 shares of company stock valued at $102,709,316. Insiders own 18.64% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WDAY. Deutsche Bank Aktiengesellschaft lowered their target price on Workday from $265.00 to $190.00 and set a "buy" rating on the stock in a report on Wednesday, February 18th. BMO Capital Markets restated an "outperform" rating on shares of Workday in a report on Friday, May 22nd. Piper Sandler boosted 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. Sanford C. Bernstein restated an "outperform" rating and set a $216.00 target price on shares of Workday in a report on Friday, May 22nd. Finally, Robert W. Baird set a $195.00 target price on Workday in a report on Tuesday, February 24th. One equities research 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 issued a Sell rating to the company's stock. According to data from MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and a consensus price target of $185.03.

About Workday

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.