Rhumbline Advisers Raises Stake in Workday, Inc. (NASDAQ:WDAY)

Rhumbline Advisers lifted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 3.8% during the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 256,459 shares of the software maker’s stock after buying an additional 9,275 shares during the period. Rhumbline Advisers owned 0.10% of Workday worth $57,334,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. Vanguard Group Inc. boosted its holdings in shares of Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after purchasing an additional 324,540 shares during the last quarter. Norges Bank acquired a new stake in Workday in the 4th quarter worth about $1,491,149,000. Sustainable Growth Advisers LP grew its holdings in Workday by 9.7% in the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after buying an additional 301,463 shares during the period. Clearbridge Investments LLC increased its stake in shares of Workday by 12.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after acquiring an additional 281,207 shares during the last quarter. Finally, Artisan Partners Limited Partnership lifted its holdings in shares of Workday by 5.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,511,764 shares of the software maker’s stock worth $417,338,000 after acquiring an additional 75,903 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 78,279 shares of the company’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction on Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 76,376 shares of Workday stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $226.74, for a total transaction of $17,317,494.24. Following the sale, the insider now owns 102,997 shares in the company, valued at $23,353,539.78. The disclosure for this sale can be found here. Insiders have sold a total of 449,410 shares of company stock valued at $100,631,138 in the last quarter. Company insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

WDAY has been the subject of several research analyst reports. Jefferies Financial Group dropped their price target on shares of Workday from $350.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, May 24th. KeyCorp boosted their price target on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. TD Cowen cut their price objective on Workday from $330.00 to $290.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Guggenheim reiterated a “sell” rating and set a $190.00 target price on shares of Workday in a report on Tuesday, June 25th. Finally, Mizuho cut their price target on shares of Workday from $325.00 to $280.00 and set a “buy” rating on the stock in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $288.15.

Workday Stock Performance

Shares of WDAY stock opened at $258.60 on Thursday. The company has a market cap of $68.53 billion, a P/E ratio of 46.59, a PEG ratio of 5.66 and a beta of 1.35. The business has a 50 day moving average of $231.29 and a two-hundred day moving average of $245.78. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business earned $0.40 EPS. As a group, analysts anticipate that Workday, Inc. will post 2.27 EPS 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.