Workday, Inc. $WDAY Shares Acquired by Odyssean LLC

Key Points

• Odyssean LLC increased its Workday stake by 69.8% in the second quarter, purchasing 7,100 additional shares and bringing its holdings to 17,273 shares valued at approximately $2.12 million. Institutional investors collectively own 89.81% of Workday.
• Workday exceeded quarterly expectations, reporting $2.75 in adjusted earnings per share versus the $2.61 consensus and $2.65 billion in revenue. Revenue rose 12.8% year over year, while net margin was 12.32%.
• Analyst sentiment is broadly positive, with 20 Buy, 17 Hold, and 2 Sell ratings and a consensus price target of $206.34. However, insiders sold 862,481 shares worth approximately $116.8 million during the latest quarter.

Odyssean LLC grew its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 69.8% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 17,273 shares of the software maker's stock after purchasing an additional 7,100 shares during the quarter. Odyssean LLC's holdings in Workday were worth $2,115,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Rakuten Securities Inc. acquired a new position in Workday in the 2nd quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Workday during the third quarter worth $26,000. DT Investment Partners LLC purchased a new stake in Workday during the fourth quarter worth about $27,000. LRI Investments LLC acquired a new stake in shares of Workday during the fourth quarter worth about $29,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Workday in the third quarter valued at approximately $30,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Stock Performance

Shares of WDAY stock opened at $195.79 on Friday. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a fifty day moving average price of $166.01 and a 200 day moving average price of $142.61. The stock has a market cap of $48.36 billion, a PE ratio of 39.71, a P/E/G ratio of 2.09 and a beta of 1.08.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, beating analysts' consensus estimates of $2.61 by $0.14. The firm had revenue of $2.65 billion for the quarter, compared to analysts' expectations of $2.64 billion. Workday had a net margin of 12.32% and a return on equity of 20.95%. The firm's revenue was up 12.8% on a year-over-year basis. During the same period in the prior year, the company earned $2.21 EPS. Sell-side analysts forecast that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research firms have issued reports on WDAY. Canaccord Genuity Group increased their target price on shares of Workday from $200.00 to $225.00 and gave the stock a "buy" rating in a report on Tuesday, August 25th. Oppenheimer increased their price objective on Workday from $165.00 to $220.00 and gave the company an "outperform" rating in a report on Monday, August 24th. HC Wainwright set a $140.00 price target on shares of Workday in a research note on Wednesday, May 27th. Sanford C. Bernstein boosted their price objective on Workday from $216.00 to $238.00 and gave the company an "outperform" rating in a research note on Friday, August 28th. Finally, Wolfe Research reiterated an "outperform" rating and set a $160.00 target price on shares of Workday in a research note on Friday, May 22nd. Twenty equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have assigned a Sell rating to the company's stock. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $206.34.

Insider Buying and Selling at Workday

In other Workday news, CAO Mark S. Garfield sold 918 shares of Workday stock in a transaction that occurred on Friday, July 10th. The shares were sold at an average price of $142.19, for a total value of $130,530.42. Following the completion of the sale, the chief accounting officer directly owned 73,718 shares of the company's stock, valued at approximately $10,481,962.42. The trade was a 1.23% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 2,728 shares of the stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total value of $391,795.36. Following the transaction, the insider owned 266,388 shares in the company, valued at $38,258,644.56. This trade represents a 1.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 862,481 shares of company stock valued at $116,785,581. 18.64% of the stock is owned by company insiders.

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.

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