Harvest Fund Management Co. Ltd Grows Holdings in Workday, Inc. $WDAY

Harvest Fund Management Co. Ltd grew its stake in Workday, Inc. (NASDAQ:WDAY) by 40.1% during the fourth quarter, according to its most recent 13F filing with the SEC. The firm owned 55,605 shares of the software maker’s stock after acquiring an additional 15,903 shares during the period. Harvest Fund Management Co. Ltd’s holdings in Workday were worth $11,943,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in WDAY. Rakuten Securities Inc. purchased a new stake in Workday during the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Workday during the 3rd quarter worth approximately $26,000. DT Investment Partners LLC purchased a new stake in Workday during the 4th quarter worth approximately $27,000. LRI Investments LLC purchased a new stake in Workday during the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC purchased a new stake in Workday during the 3rd quarter worth approximately $30,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Workday

In other news, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total value of $769,320.00. Following the completion of the transaction, the chief financial officer owned 217,930 shares in the company, valued at approximately $27,942,984.60. This represents a 2.68% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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. Also, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction on Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total transaction of $13,949,200.00. Following the completion of the transaction, the insider owned 105,049 shares of the company’s stock, valued at approximately $13,631,158.24. The trade was a 50.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 774,814 shares of company stock worth $101,308,591. Corporate insiders own 18.64% of the company’s stock.

Workday Trading Up 0.7%

NASDAQ WDAY opened at $147.91 on Friday. 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 52 week low of $110.36 and a 52 week high of $257.09. The stock has a market capitalization of $36.53 billion, a PE ratio of 46.22, a price-to-earnings-growth ratio of 1.62 and a beta of 1.09. The firm has a 50 day moving average of $126.90 and a two-hundred day moving average of $163.18.

Workday (NASDAQ:WDAY) last posted its quarterly 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 net margin of 8.60% and a return on equity of 14.75%. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the business posted $2.23 EPS. The firm’s revenue was up 13.5% on a year-over-year basis. As a group, research analysts expect that Workday, Inc. will post 5.19 EPS for the current fiscal year.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WDAY shares. BTIG Research reaffirmed a “buy” rating and set a $175.00 target price on shares of Workday in a research note on Monday, May 18th. Jefferies Financial Group upped their target price on shares of Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, May 22nd. Guggenheim cut their target price on shares of Workday from $285.00 to $275.00 and set a “buy” rating on the stock in a research note on Wednesday, February 25th. Raymond James Financial reaffirmed a “market perform” rating on shares of Workday in a research note on Monday, February 9th. Finally, Bank of America started coverage on shares of Workday in a research note on Wednesday, May 27th. They set a “neutral” rating and a $140.00 target price on the stock. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.03.

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.