Workday, Inc. $WDAY Shares Bought by Van Den Berg Management I Inc.

Key Points

• Van Den Berg Management I Inc. increased its Workday stake by 119.9% in the first quarter, ending with 37,898 shares valued at about $4.9 million.
• Workday’s latest quarterly results beat expectations, with EPS of $2.66 versus $2.51 estimated and revenue of $2.54 billion, up 13.5% year over year.
• Analyst sentiment remains mixed but constructive overall: the stock has a Moderate Buy consensus rating and a consensus price target of $179.80, even after one downgrade from Morgan Stanley.

Van Den Berg Management I Inc. lifted its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 119.9% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 37,898 shares of the software maker's stock after acquiring an additional 20,664 shares during the period. Van Den Berg Management I Inc.'s holdings in Workday were worth $4,924,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Brighton Jones LLC lifted its position in Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock worth $1,033,000 after buying an additional 2,792 shares in the last quarter. Empowered Funds LLC grew its holdings in Workday by 12.1% in the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker's stock valued at $2,602,000 after buying an additional 1,206 shares in the last quarter. Geneos Wealth Management Inc. grew its holdings in Workday by 211.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker's stock valued at $44,000 after buying an additional 127 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Workday in the 2nd quarter worth $281,000. Finally, NewEdge Advisors LLC increased its stake in shares of Workday by 32.0% in the 2nd quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker's stock worth $1,583,000 after acquiring an additional 1,600 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the stock. HC Wainwright set a $140.00 price target on shares of Workday in a research report on Wednesday, May 27th. Weiss Ratings restated a "sell (d+)" rating on shares of Workday in a research report on Wednesday, June 17th. Wolfe Research reaffirmed an "outperform" rating and set a $160.00 target price on shares of Workday in a research note on Friday, May 22nd. Morgan Stanley downgraded shares of Workday from an "equal weight" rating to an "underweight" rating and reduced their target price for the stock from $185.00 to $145.00 in a research note on Tuesday. Finally, Citigroup reiterated a "market perform" rating on shares of Workday in a report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $179.80.

Workday Stock Performance

Shares of Workday stock opened at $135.34 on Friday. The stock has a market capitalization of $33.43 billion, a price-to-earnings ratio of 42.29, a price-to-earnings-growth ratio of 1.36 and a beta of 1.11. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50-day moving average of $133.13 and a 200 day moving average of $141.84. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business's revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.23 earnings per share. As a group, sell-side analysts forecast that Workday, Inc. will post 5.38 earnings per share for the current year.

Insider Activity at Workday

In related news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction that occurred 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 approximately $41,451,702. The trade was a 2.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 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, insider Robert Enslin sold 5,374 shares of the company's stock in a transaction that occurred on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the sale, the insider directly owned 239,469 shares in the company, valued at approximately $32,304,368.10. The trade was a 2.19% decrease in their ownership of the stock. 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. Over the last quarter, insiders sold 875,020 shares of company stock worth $113,938,503. Corporate 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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