Harmony Asset Management LLC Grows Stake in Workday, Inc. (NASDAQ:WDAY)

Harmony Asset Management LLC lifted its stake in Workday, Inc. (NASDAQ:WDAY) by 49.9% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,367 shares of the software maker’s stock after purchasing an additional 455 shares during the quarter. Harmony Asset Management LLC’s holdings in Workday were worth $306,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently bought and sold shares of WDAY. William Blair Investment Management LLC lifted its stake in shares of Workday by 17.6% in the first quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock worth $8,849,000 after buying an additional 4,865 shares in the last quarter. ORG Partners LLC lifted its position in Workday by 3,717.9% in the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after acquiring an additional 3,123 shares in the last quarter. Bornite Capital Management LP purchased a new stake in Workday during the 4th quarter valued at $34,508,000. Nordea Investment Management AB increased its holdings in shares of Workday by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after purchasing an additional 13,502 shares in the last quarter. Finally, Bain Capital Public Equity LP raised its stake in shares of Workday by 32.5% in the fourth quarter. Bain Capital Public Equity LP now owns 22,471 shares of the software maker’s stock worth $6,203,000 after purchasing an additional 5,513 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on WDAY. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Thursday. DA Davidson boosted their price objective on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. Morgan Stanley lowered their price objective on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. KeyCorp boosted their target price on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Evercore ISI lowered their price target on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $286.48.

Workday Stock Performance

NASDAQ WDAY opened at $248.29 on Monday. 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, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The business has a 50-day moving average price of $237.48 and a 200-day moving average price of $241.95. The firm has a market cap of $65.80 billion, a price-to-earnings ratio of 44.74, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the company posted $0.40 EPS. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, equities research analysts predict that Workday, Inc. will post 2.39 EPS for the current fiscal year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction dated 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 of the company’s stock, valued at $26,902,816.40. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the transaction, the director now directly owns 97,500 shares of the company’s stock, valued at $25,381,200. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 467,402 shares of company stock valued at $109,864,184. Corporate insiders own 20.00% of the company’s stock.

About Workday

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.