Fluent Financial LLC Acquires New Position in Workday, Inc. $WDAY

Fluent Financial LLC bought a new position in shares of Workday, Inc. (NASDAQ:WDAY) during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 18,370 shares of the software maker’s stock, valued at approximately $2,249,000. Workday accounts for 0.8% of Fluent Financial LLC’s holdings, making the stock its 28th biggest holding.

Other large investors have also recently added to or reduced their stakes in the company. Strategic Investment Advisors MI increased its position in Workday by 1.6% during the second quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock worth $777,000 after buying an additional 50 shares in the last quarter. L2 Asset Management LLC raised its position in shares of Workday by 7.8% in the 4th quarter. L2 Asset Management LLC now owns 1,079 shares of the software maker’s stock worth $232,000 after buying an additional 78 shares during the period. Oregon Public Employees Retirement Fund grew its stake in Workday by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,798 shares of the software maker’s stock worth $5,326,000 after buying an additional 80 shares during the period. Stevens Capital Management LP grew its stake in shares of Workday by 4.3% in the fourth quarter. Stevens Capital Management LP now owns 2,054 shares of the software maker’s stock valued at $441,000 after buying an additional 84 shares in the last quarter. Finally, Colonial Trust Co SC boosted its position in Workday by 45.8% in the 4th quarter. Colonial Trust Co SC now owns 280 shares of the software maker’s stock valued at $60,000 after buying an additional 88 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

WDAY has been the topic of a number of recent analyst reports. Piper Sandler upped their target price on shares of Workday from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. KeyCorp boosted their price target on shares of Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Wolfe Research restated an “outperform” rating and issued a $160.00 target price on shares of Workday in a research report on Friday, May 22nd. Sanford C. Bernstein reiterated an “outperform” rating and set a $216.00 price objective on shares of Workday in a research note on Friday, May 22nd. Finally, BMO Capital Markets restated an “outperform” rating on shares of Workday in a report on Friday, May 22nd. One 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 given a Sell rating to the company’s stock. Based on data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $136.74, for a total transaction of $14,699,550.00. Following the completion of the sale, the insider directly owned 105,049 shares in the company, valued at approximately $14,364,400.26. This trade represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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 firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the sale, the chief financial officer directly owned 288,460 shares of the company’s stock, valued at $41,451,702. This trade represents 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. Insiders sold 875,020 shares of company stock valued at $113,938,503 over the last ninety days. Insiders own 18.64% of the company’s stock.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $179.64 on Monday. The company’s fifty day moving average is $140.39 and its two-hundred day moving average is $138.86. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85. The company has a market cap of $44.37 billion, a P/E ratio of 56.14, a price-to-earnings-growth ratio of 1.91 and a beta of 1.08.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the firm posted $2.23 earnings per share. Workday’s revenue was up 13.5% compared to the same quarter last year. Equities analysts expect that Workday, Inc. will post 5.38 earnings per share for the current fiscal year.

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.