Intech Investment Management LLC Acquires 508 Shares of Workday, Inc. $WDAY

Intech Investment Management LLC raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 4.3% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,327 shares of the software maker’s stock after buying an additional 508 shares during the period. Intech Investment Management LLC’s holdings in Workday were worth $2,958,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of WDAY. Dagco Inc. bought a new stake in shares of Workday in the 1st quarter valued at about $31,000. Golden State Wealth Management LLC grew its position in Workday by 2,216.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock worth $33,000 after acquiring an additional 133 shares during the last quarter. Physician Wealth Advisors Inc. purchased a new position in Workday in the 2nd quarter worth approximately $42,000. Geneos Wealth Management Inc. lifted its position in Workday by 211.7% in the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after purchasing an additional 127 shares during the last quarter. Finally, IMA Advisory Services Inc. purchased a new stake in shares of Workday during the first quarter valued at approximately $47,000. 89.81% of the stock is owned by institutional investors.

Insider Transactions at Workday

In related news, Director Michael M. Mcnamara sold 5,393 shares of the stock in a transaction dated Friday, October 10th. The shares were sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the sale, the director directly owned 24,078 shares of the company’s stock, valued at approximately $5,662,182.48. This represents a 18.30% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total transaction of $1,395,720.00. Following the sale, the chief financial officer owned 168,468 shares of the company’s stock, valued at approximately $39,189,026.16. This represents a 3.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 264,933 shares of company stock valued at $61,475,760. 19.31% of the stock is currently owned by corporate insiders.

Workday Trading Down 0.8%

NASDAQ:WDAY opened at $223.86 on Thursday. The company has a 50-day moving average price of $234.14 and a 200-day moving average price of $237.49. The stock has a market cap of $59.77 billion, a price-to-earnings ratio of 103.64, a P/E/G ratio of 2.81 and a beta of 1.11. The company has a current ratio of 2.10, a quick ratio of 2.10 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) last announced its earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.09 by $0.12. Workday had a return on equity of 9.74% and a net margin of 6.51%.The firm had revenue of $2.35 billion during the quarter, compared to analyst estimates of $2.34 billion. During the same quarter in the prior year, the company earned $1.75 EPS. The business’s revenue was up 12.6% compared to the same quarter last year. Equities analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Ratings Changes

Several brokerages recently commented on WDAY. Guggenheim raised shares of Workday from a “neutral” rating to a “buy” rating and set a $285.00 target price on the stock in a research note on Wednesday, September 17th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, September 17th. Cowen reaffirmed a “buy” rating on shares of Workday in a research note on Wednesday, September 17th. BMO Capital Markets cut their target price on Workday from $314.00 to $285.00 and set an “outperform” rating on the stock in a research note on Friday, August 22nd. Finally, Canaccord Genuity Group reduced their price target on Workday from $330.00 to $275.00 and set a “buy” rating on the stock in a report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and ten have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.86.

About Workday

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.