Workday, Inc. $WDAY Shares Bought by Bleakley Financial Group LLC

Key Points

• Bleakley Financial Group increased its Workday stake by 68.3% in the first quarter, buying 7,333 additional shares and bringing its total to 18,067 shares worth about $2.35 million.
• Workday shares were up 2.5% to $145.43, and the company reported better-than-expected quarterly results with EPS of $2.66 versus $2.51 expected and revenue of $2.54 billion, up 13.5% year over year.
• Analysts remain broadly positive on WDAY, with a Moderate Buy consensus and an average price target of $184, even as recent insider selling included stock sales by CFO Zane Rowe and major shareholder David A. Duffield.

Bleakley Financial Group LLC grew its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 68.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 18,067 shares of the software maker's stock after buying an additional 7,333 shares during the period. Bleakley Financial Group LLC's holdings in Workday were worth $2,347,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Norges Bank acquired a new position in shares of Workday in the 4th quarter valued at $448,804,000. Harvest Fund Management Co. Ltd grew its holdings in shares of Workday by 40.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker's stock worth $11,943,000 after purchasing an additional 15,903 shares during the period. Robeco Institutional Asset Management B.V. increased its position in shares of Workday by 18.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker's stock worth $122,804,000 after purchasing an additional 88,384 shares during the last quarter. Aurora Investment Counsel acquired a new stake in shares of Workday during the 4th quarter worth about $2,357,000. Finally, Morningstar Investment Management LLC raised its holdings in Workday by 127.2% in the 4th quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker's stock valued at $5,808,000 after buying an additional 15,138 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Trading Up 2.5%

NASDAQ WDAY opened at $145.43 on Friday. The firm has a 50 day simple moving average of $131.12 and a 200-day simple moving average of $144.55. 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, Inc. has a one year low of $110.36 and a one year high of $249.85. The firm has a market cap of $35.92 billion, a price-to-earnings ratio of 45.45, a PEG ratio of 1.52 and a beta of 1.11.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts' consensus estimates 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 during the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter in the previous year, the business posted $2.23 earnings per share. The business's quarterly revenue was up 13.5% compared to the same quarter last year. Equities research analysts anticipate that Workday, Inc. will post 5.34 EPS for the current fiscal year.

Analyst Ratings Changes

A number of research analysts have commented on WDAY shares. Wolfe Research reaffirmed an "outperform" rating and issued a $160.00 target price on shares of Workday in a research report on Friday, May 22nd. KeyCorp lifted their price target on shares of Workday from $155.00 to $158.00 and gave the company an "overweight" rating in a research report on Friday, May 22nd. Citigroup reissued a "market perform" rating on shares of Workday in a research note on Friday, May 22nd. Jefferies Financial Group upped their price objective on shares of Workday from $115.00 to $140.00 and gave the stock a "hold" rating in a report on Friday, May 22nd. Finally, Oppenheimer reaffirmed an "outperform" rating on shares of Workday in a research report on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $184.00.

Insider Buying and Selling at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total value of $862,200.00. Following the completion of the transaction, the chief financial officer owned 288,460 shares in the company, valued at $41,451,702. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, 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, June 30th. The stock was sold at an average price of $122.04, for a total value of $13,119,300.00. Following the sale, the insider directly owned 105,049 shares in the company, valued at $12,820,179.96. This represents a 50.58% 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. Insiders sold 875,020 shares of company stock valued at $113,938,503 in the last 90 days. Company insiders own 18.64% of the company's stock.

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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