Quantinno Capital Management LP Increases Position in Workday, Inc. $WDAY

Quantinno Capital Management LP increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 270.9% during the first quarter, Holdings Channel reports. The fund owned 372,618 shares of the software maker’s stock after acquiring an additional 272,160 shares during the quarter. Quantinno Capital Management LP’s holdings in Workday were worth $48,411,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Rakuten Securities Inc. purchased a new stake in Workday in the second quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC acquired a new stake in shares of Workday during the 3rd quarter worth $26,000. JPL Wealth Management LLC acquired a new stake in shares of Workday during the 3rd quarter worth $30,000. DT Investment Partners LLC purchased a new position in shares of Workday in the 4th quarter worth $27,000. Finally, LRI Investments LLC acquired a new position in Workday in the fourth quarter valued at $29,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on the company. William Blair raised Workday to a “strong-buy” rating in a research report on Friday, May 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Workday in a report on Wednesday, June 17th. Wells Fargo & Company lifted their price objective on Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. BTIG Research reiterated a “buy” rating and set a $175.00 target price on shares of Workday in a report on Monday, May 18th. Finally, Sanford C. Bernstein reissued an “outperform” rating and set a $216.00 target price on shares of Workday in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

Workday Stock Performance

Workday stock opened at $168.01 on Thursday. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85. 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 company has a market capitalization of $41.50 billion, a price-to-earnings ratio of 52.50, a price-to-earnings-growth ratio of 1.70 and a beta of 1.11. The firm’s fifty day moving average price is $134.94 and its 200 day moving average price is $140.27.

Workday (NASDAQ:WDAY) last posted 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. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.23 EPS. On average, research analysts forecast that Workday, Inc. will post 5.38 EPS for the current fiscal year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the sale, the insider directly owned 105,049 shares in the company, valued at $12,820,179.96. The trade was a 50.58% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Zane Rowe sold 6,000 shares of the company’s 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 directly 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 disclosure for this sale is available in the SEC filing. 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 90 days, insiders have sold 875,020 shares of company stock worth $113,938,503. 18.64% of the stock is currently owned by corporate insiders.

Workday Profile

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.