Workday, Inc. (NASDAQ:WDAY) Shares Acquired by Ieq Capital LLC

Ieq Capital LLC boosted its stake in Workday, Inc. (NASDAQ:WDAY) by 5.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,183 shares of the software maker’s stock after acquiring an additional 1,054 shares during the period. Ieq Capital LLC’s holdings in Workday were worth $4,289,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the stock. Van ECK Associates Corp lifted its position in shares of Workday by 17,345.2% during the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after purchasing an additional 925,366 shares during the last quarter. Vanguard Group Inc. lifted its holdings in Workday by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after buying an additional 437,215 shares during the last quarter. Kodai Capital Management LP acquired a new position in shares of Workday in the 4th quarter worth approximately $85,994,000. Sustainable Growth Advisers LP increased its holdings in shares of 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 acquiring an additional 301,463 shares during the last quarter. Finally, Clearbridge Investments LLC raised its position 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 in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities analysts have commented on WDAY shares. Bank of America lifted their price objective on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. KeyCorp boosted their price objective on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Jefferies Financial Group cut their target price on shares of Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Evercore ISI lowered their target price on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. Finally, Loop Capital increased their price target on Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. One 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. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $286.48.

Workday Price Performance

NASDAQ:WDAY opened at $248.29 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The business’s 50-day moving average price is $237.48 and its 200 day moving average price is $242.30. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The firm has a market cap of $65.80 billion, a P/E ratio of 44.74, a PEG ratio of 5.07 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results 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 business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the firm earned $0.40 EPS. As a group, sell-side analysts predict that Workday, Inc. will post 2.39 earnings per share for the current fiscal year.

Insider Activity

In related news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the transaction, the insider now directly owns 196,344 shares in the company, valued at approximately $51,106,379.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.29, for a total value of $812,365.09. Following the completion of the transaction, the insider now directly owns 196,344 shares in the company, valued at $51,106,379.76. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction that occurred on Wednesday, September 18th. The shares were sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the sale, the insider now owns 505,000 shares in the company, valued at approximately $125,032,950. The disclosure for this sale can be found here. In the last 90 days, insiders sold 467,402 shares of company stock worth $109,864,184. 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.