William Blair Investment Management LLC Increases Stock Position in Workday, Inc. (NASDAQ:WDAY)

William Blair Investment Management LLC increased its holdings in Workday, Inc. (NASDAQ:WDAY) by 17.6% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 38,149 shares of the software maker’s stock after buying an additional 5,707 shares during the period. William Blair Investment Management LLC’s holdings in Workday were worth $8,529,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of WDAY. Assetmark Inc. boosted its position in Workday by 9.9% during the fourth quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock valued at $5,912,000 after purchasing an additional 1,933 shares in the last quarter. ORG Partners LLC lifted its position in Workday by 3,717.9% during the second 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 during the last quarter. Bornite Capital Management LP acquired a new stake in Workday in the fourth quarter valued at approximately $34,508,000. Nordea Investment Management AB increased its position in shares of Workday by 3.0% during the first 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 boosted its position in shares of Workday by 32.5% in the 4th 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 in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity at Workday

In related 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 directly owns 102,997 shares of the company’s stock, valued at approximately $23,059,998.33. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Friday, June 21st. The stock was sold at an average price of $218.58, for a total value of $12,240,480.00. Following the completion of the sale, the insider now directly owns 730,000 shares of the company’s stock, valued at approximately $159,563,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 78,279 shares of the firm’s 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 sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The disclosure for this sale can be found here. In the last ninety days, insiders sold 466,402 shares of company stock valued at $107,992,034. 20.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on WDAY shares. Deutsche Bank Aktiengesellschaft increased their price target on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Canaccord Genuity Group reissued a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Friday. BMO Capital Markets lowered their price objective on shares of Workday from $338.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Citigroup cut their target price on Workday from $293.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Finally, Guggenheim restated a “sell” rating and issued a $190.00 target price on shares of Workday in a research note on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.15.

Workday Trading Down 0.3 %

Shares of WDAY stock opened at $249.21 on Tuesday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The company has a market cap of $66.04 billion, a price-to-earnings ratio of 44.90, a PEG ratio of 5.40 and a beta of 1.35. The stock has a 50 day simple moving average of $235.70 and a 200-day simple moving average of $242.70. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last announced its 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. The business 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 business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the company posted $0.40 EPS. On average, equities research analysts expect that Workday, Inc. will post 2.27 EPS for the current fiscal year.

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.