Empowered Funds LLC Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Empowered Funds LLC boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 38.7% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 7,349 shares of the software maker’s stock after purchasing an additional 2,049 shares during the quarter. Empowered Funds LLC’s holdings in Workday were worth $1,796,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. The Manufacturers Life Insurance Company grew its holdings in shares of Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after buying an additional 1,016,394 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of Workday by 15.2% during the second quarter. Bank of New York Mellon Corp now owns 1,167,131 shares of the software maker’s stock worth $260,924,000 after purchasing an additional 153,577 shares during the period. Van ECK Associates Corp grew its position in Workday by 0.4% in the 3rd quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock valued at $226,266,000 after buying an additional 4,127 shares during the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in Workday by 13.4% in the 2nd quarter. Envestnet Asset Management Inc. now owns 698,776 shares of the software maker’s stock valued at $156,218,000 after buying an additional 82,570 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity

In related news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the transaction, the director now owns 97,500 shares in the company, valued at $25,381,200. This trade represents a 7.14 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have issued reports on WDAY shares. Morgan Stanley dropped their target price on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Loop Capital upped their target price on shares of Workday from $255.00 to $270.00 and gave the stock a “hold” rating in a research report on Thursday, November 14th. Canaccord Genuity Group reiterated a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Friday, September 13th. The Goldman Sachs Group lifted their price objective on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Scotiabank initiated coverage on Workday in a report on Monday. They issued a “sector outperform” rating and a $340.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $289.46.

Workday Stock Down 0.2 %

WDAY opened at $259.44 on Thursday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The firm has a 50 day moving average price of $247.02 and a 200 day moving average price of $236.73. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The company has a market cap of $68.75 billion, a PE ratio of 45.20, a price-to-earnings-growth ratio of 5.15 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the business posted $0.40 EPS. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. Sell-side analysts expect that Workday, Inc. will post 2.4 earnings per share for the current year.

Workday 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.