Intech Investment Management LLC Boosts Stake in Workday, Inc. (NASDAQ:WDAY)

Intech Investment Management LLC increased its position in Workday, Inc. (NASDAQ:WDAY) by 42.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 18,462 shares of the software maker’s stock after purchasing an additional 5,502 shares during the quarter. Intech Investment Management LLC’s holdings in Workday were worth $4,127,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Crewe Advisors LLC bought a new stake in shares of Workday during the 1st quarter valued at $27,000. Sound Income Strategies LLC boosted its stake in Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after acquiring an additional 49 shares in the last quarter. SouthState Corp grew its holdings in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after purchasing an additional 129 shares during the period. Pacific Center for Financial Services increased its stake in shares of Workday by 57.0% during the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock valued at $43,000 after purchasing an additional 57 shares in the last quarter. Finally, Asset Dedication LLC purchased a new position in shares of Workday during the second quarter valued at approximately $36,000. 89.81% of the stock is currently owned by institutional investors.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 78,279 shares of Workday stock in a transaction on Monday, July 1st. The stock was sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $23,059,998.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Workday news, major shareholder David A. Duffield sold 78,279 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, June 28th. The shares were sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the transaction, the insider now directly owns 674,000 shares in the company, valued at approximately $150,841,200. The disclosure for this sale can be found here. Insiders sold 467,402 shares of company stock worth $109,864,184 in the last three months. Corporate insiders own 20.00% of the company’s stock.

Workday Trading Up 0.3 %

Workday stock opened at $248.29 on Friday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a market cap of $65.80 billion, a P/E ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35. 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 has a 50-day simple moving average of $237.48 and a two-hundred day simple moving average of $242.12.

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

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Loop Capital raised their price objective on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley reduced their price target on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Needham & Company LLC dropped their price target on shares of Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday. DA Davidson increased their price objective on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $285.00 target price on shares of Workday in a report on Wednesday. One research 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 stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $286.48.

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.