Workday, Inc. $WDAY Stock Acquired by ProShare Advisors LLC

ProShare Advisors LLC boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 1.2% in the 3rd quarter, Holdings Channel reports. The firm owned 231,372 shares of the software maker’s stock after purchasing an additional 2,692 shares during the period. ProShare Advisors LLC’s holdings in Workday were worth $44,067,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also recently bought and sold shares of the business. Tidal Investments LLC increased its stake in Workday by 43.6% in the second quarter. Tidal Investments LLC now owns 1,439,456 shares of the software maker’s stock valued at $176,218,000 after purchasing an additional 437,175 shares during the period. First Trust Advisors LP raised its holdings in shares of Workday by 9.6% in the first quarter. First Trust Advisors LP now owns 1,416,176 shares of the software maker’s stock valued at $183,990,000 after buying an additional 124,524 shares during the last quarter. Pacer Advisors Inc. boosted its stake in shares of Workday by 60.4% during the first quarter. Pacer Advisors Inc. now owns 1,227,051 shares of the software maker’s stock worth $159,418,000 after buying an additional 462,002 shares during the period. Temasek Holdings Private Ltd boosted its stake in shares of Workday by 9.5% during the first quarter. Temasek Holdings Private Ltd now owns 889,318 shares of the software maker’s stock worth $115,540,000 after buying an additional 77,330 shares during the period. Finally, Hsbc Holdings PLC boosted its stake in shares of Workday by 25.3% during the first quarter. Hsbc Holdings PLC now owns 710,309 shares of the software maker’s stock worth $92,374,000 after buying an additional 143,274 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity

In other news, major shareholder David Duffield sold 100,780 shares of the firm’s stock in a transaction that occurred on Thursday, September 10th. The stock was sold at an average price of $185.64, for a total value of $18,708,799.20. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at $19,501,296.36. This trade represents a 48.96% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 988,104 shares of company stock worth $188,811,574. Corporate insiders own 18.64% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of research reports. Jefferies Financial Group lowered their price target on Workday from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Thursday, October 8th. Loop Capital increased their price objective on Workday from $135.00 to $200.00 and gave the stock a “hold” rating in a research report on Friday, August 21st. Barclays lifted their target price on Workday from $200.00 to $224.00 and gave the company an “overweight” rating in a research note on Friday, August 28th. KeyCorp downgraded Workday from an “overweight” rating to a “sector weight” rating in a research note on Thursday, October 15th. Finally, Daiwa Securities Group boosted their target price on Workday from $170.00 to $230.00 and gave the company a “buy” rating in a report on Wednesday, September 9th. Twenty-two research analysts have rated the stock with a Buy rating, nineteen have assigned a Hold rating and two have assigned a Sell rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $202.10.

Workday Stock Performance

Shares of Workday stock opened at $197.82 on Monday. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $241.32. The company has a quick ratio of 0.91, a current ratio of 0.91 and a debt-to-equity ratio of 0.31. The company’s 50-day simple moving average is $194.07 and its 200-day simple moving average is $156.31. The firm has a market cap of $47.67 billion, a price-to-earnings ratio of 40.13, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.14. The firm had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. Workday had a net margin of 12.32% and a return on equity of 20.95%. The firm’s revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the firm earned $2.21 earnings per share. As a group, equities research analysts anticipate that Workday, Inc. will post 5.32 earnings per share for the current year.

About Workday

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company’s products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.