Y.D. More Investments Ltd Raises Stock Position in Workday, Inc. (NASDAQ:WDAY)

Key Points

• Y.D. More Investments Ltd increased its stake in Workday, Inc. by 19.2% in the first quarter, owning 8,188 shares valued at approximately $1.91 million.
• Insiders at Workday have been selling shares, with CEO Carl M. Eschenbach recently selling 6,250 shares, significantly reducing his ownership by 80.94%.
• Workday's stock performance shows a market capitalization of $61.16 billion and reported a quarterly revenue increase of 12.6% year-over-year, reaching $2.24 billion.

Y.D. More Investments Ltd boosted its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 19.2% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,188 shares of the software maker's stock after purchasing an additional 1,320 shares during the quarter. Y.D. More Investments Ltd's holdings in Workday were worth $1,912,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently bought and sold shares of the company. T. Rowe Price Investment Management Inc. bought a new stake in Workday during the fourth quarter valued at $658,735,000. The Manufacturers Life Insurance Company raised its holdings in shares of Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock valued at $960,454,000 after acquiring an additional 1,406,088 shares in the last quarter. Invesco Ltd. boosted its position in shares of Workday by 102.6% during the 4th quarter. Invesco Ltd. now owns 1,855,778 shares of the software maker's stock valued at $478,846,000 after acquiring an additional 939,955 shares during the last quarter. Northern Trust Corp grew its holdings in shares of Workday by 51.2% during the fourth quarter. Northern Trust Corp now owns 2,263,981 shares of the software maker's stock worth $584,175,000 after purchasing an additional 767,034 shares in the last quarter. Finally, Contour Asset Management LLC bought a new position in shares of Workday in the fourth quarter worth approximately $183,516,000. 89.81% of the stock is owned by institutional investors.

Insider Transactions at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the transaction, the chief executive officer owned 1,472 shares in the company, valued at $352,440.96. This represents a 80.94% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 451 shares of the firm's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the completion of the sale, the chief accounting officer directly owned 42,977 shares of the company's stock, valued at $10,093,578.22. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 329,005 shares of company stock worth $79,203,523. Corporate insiders own 19.31% of the company's stock.

Workday Price Performance

WDAY stock opened at $229.08 on Thursday. The stock has a market capitalization of $61.16 billion, a price-to-earnings ratio of 126.56, a PEG ratio of 3.40 and a beta of 1.24. The firm's 50-day moving average price is $238.64 and its two-hundred day moving average price is $245.67. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. Workday, Inc. has a 12-month low of $205.33 and a 12-month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. The company had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. Workday's quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm earned $1.74 earnings per share. As a group, equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

WDAY has been the subject of several research analyst reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $340.00 target price on shares of Workday in a research report on Friday, May 23rd. JMP Securities reaffirmed a "market outperform" rating and set a $315.00 price objective on shares of Workday in a report on Friday, May 23rd. DA Davidson increased their target price on Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Piper Sandler restated an "underweight" rating and set a $235.00 price target (down previously from $255.00) on shares of Workday in a research report on Thursday, July 10th. Finally, Stifel Nicolaus dropped their price target on Workday from $310.00 to $275.00 and set a "hold" rating for the company in a research note on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $296.88.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.

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