Nisa Investment Advisors LLC Grows Stake in Workday, Inc. (NASDAQ:WDAY)

Nisa Investment Advisors LLC lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 0.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 23,962 shares of the software maker’s stock after purchasing an additional 112 shares during the period. Nisa Investment Advisors LLC’s holdings in Workday were worth $6,183,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. The Manufacturers Life Insurance Company increased its stake in shares of Workday by 79.1% in 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 purchasing an additional 1,016,394 shares in the last quarter. Two Sigma Advisers LP grew its stake in Workday by 1,094.2% in the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after buying an additional 562,400 shares in the last quarter. Janus Henderson Group PLC raised its holdings in Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI purchased a new stake in shares of Workday during the third quarter worth $78,003,000. Finally, Lindbrook Capital LLC boosted its holdings in shares of Workday by 17,001.6% in the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock worth $703,000 after acquiring an additional 284,266 shares during the period. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares of the company’s stock, valued at $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the transaction, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock valued at $113,142,592 over the last ninety days. 20.00% of the stock is owned by insiders.

Workday Stock Performance

Shares of WDAY stock opened at $258.28 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a market capitalization of $68.70 billion, a P/E ratio of 42.83, a PEG ratio of 4.58 and a beta of 1.34. The stock has a 50 day moving average price of $260.93 and a two-hundred day moving average price of $247.36.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the company posted $0.47 EPS. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. Analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WDAY. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and boosted their price objective for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Loop Capital lowered their price target on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Royal Bank of Canada boosted their price objective on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Scotiabank initiated coverage on shares of Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price on the stock. Finally, Bank of America reduced their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $292.25.

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.