Workday, Inc. $WDAY Shares Purchased by Landscape Capital Management L.L.C.

Key Points

• Landscape Capital Management L.L.C. boosted its stake in Workday by 184.1% in Q3 to 27,011 shares (an additional 17,503 shares) valued at about $6.50 million.
• Institutional activity was heavy: First Eagle and Norges Bank opened large new positions (~$556M and ~$443M), Vanguard now holds 21.8M shares (~$5.25B), and overall 89.81% of WDAY is owned by institutional investors.
• Insiders have been net sellers recently—610,796 shares were sold in the past three months (roughly $107M), including David A. Duffield’s 107,500‑share sale and Gerrit S. Kazmaier’s sale of 6,547 shares.

Landscape Capital Management L.L.C. grew its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 184.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 27,011 shares of the software maker's stock after acquiring an additional 17,503 shares during the quarter. Landscape Capital Management L.L.C.'s holdings in Workday were worth $6,502,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. First Eagle Investment Management LLC acquired a new position in Workday during the third quarter worth approximately $556,252,000. Norges Bank acquired a new position in shares of Workday in the 2nd quarter valued at $442,702,000. Generation Investment Management LLP boosted its holdings in shares of Workday by 50.4% in the 3rd quarter. Generation Investment Management LLP now owns 3,087,395 shares of the software maker's stock valued at $743,229,000 after purchasing an additional 1,034,589 shares during the last quarter. Van ECK Associates Corp grew its stake in shares of Workday by 100.0% during the 3rd quarter. Van ECK Associates Corp now owns 1,415,002 shares of the software maker's stock valued at $340,634,000 after buying an additional 707,423 shares during the period. Finally, Vanguard Group Inc. grew its stake in shares of Workday by 3.2% during the 3rd quarter. Vanguard Group Inc. now owns 21,799,056 shares of the software maker's stock valued at $5,247,687,000 after buying an additional 684,872 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Gerrit S. Kazmaier sold 6,547 shares of the company's stock in a transaction on Friday, December 19th. The shares were sold at an average price of $218.77, for a total value of $1,432,287.19. Following the completion of the transaction, the insider directly owned 111,353 shares in the company, valued at approximately $24,360,695.81. This represents a 5.55% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 107,500 shares of the firm's stock in a transaction on Monday, March 2nd. The shares were sold at an average price of $134.40, for a total transaction of $14,448,000.00. Following the sale, the insider directly owned 105,049 shares of the company's stock, valued at approximately $14,118,585.60. The trade was a 50.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 610,796 shares of company stock valued at $107,013,566. 19.31% of the stock is currently owned by company insiders.

Analyst Ratings Changes

WDAY has been the topic of several research reports. Stifel Nicolaus set a $175.00 target price on Workday in a research report on Monday, February 9th. BTIG Research cut their price objective on Workday from $230.00 to $175.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft decreased their target price on Workday from $265.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, February 18th. Rosenblatt Securities cut their price target on shares of Workday from $180.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Finally, Piper Sandler reduced their price target on shares of Workday from $200.00 to $135.00 and set a "neutral" rating on the stock in a research report on Wednesday, February 25th. Twenty investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $203.00.

Workday Stock Up 0.2%

Shares of WDAY stock traded up $0.31 during trading hours on Friday, reaching $134.45. The company had a trading volume of 679,331 shares, compared to its average volume of 5,148,167. The company has a market capitalization of $35.36 billion, a P/E ratio of 51.90, a price-to-earnings-growth ratio of 1.34 and a beta of 1.16. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.83 and a current ratio of 1.32. Workday, Inc. has a twelve month low of $117.76 and a twelve month high of $276.00. The stock's fifty day simple moving average is $166.12 and its 200 day simple moving average is $206.73.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, topping the consensus estimate of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The firm had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the company posted $1.92 EPS. Workday's revenue for the quarter was up 14.5% on a year-over-year basis. As a group, sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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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