Evolutionary Tree Capital Management LLC Buys 1,852 Shares of Workday, Inc. (NASDAQ:WDAY)

Evolutionary Tree Capital Management LLC raised its stake in Workday, Inc. (NASDAQ:WDAY) by 19.2% in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,499 shares of the software maker’s stock after purchasing an additional 1,852 shares during the quarter. Workday accounts for about 2.6% of Evolutionary Tree Capital Management LLC’s portfolio, making the stock its 15th biggest position. Evolutionary Tree Capital Management LLC’s holdings in Workday were worth $2,571,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors also recently modified their holdings of WDAY. Legacy Financial Advisors Inc. lifted its stake in Workday by 7.9% during the 2nd quarter. Legacy Financial Advisors Inc. now owns 999 shares of the software maker’s stock valued at $223,000 after acquiring an additional 73 shares in the last quarter. Skandinaviska Enskilda Banken AB publ grew its stake in shares of Workday by 13.0% in the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 47,060 shares of the software maker’s stock worth $10,521,000 after acquiring an additional 5,419 shares in the last quarter. AE Wealth Management LLC raised its holdings in shares of Workday by 8.1% in the second quarter. AE Wealth Management LLC now owns 11,392 shares of the software maker’s stock valued at $2,547,000 after purchasing an additional 851 shares during the last quarter. Hollencrest Capital Management lifted its position in shares of Workday by 13.0% during the second quarter. Hollencrest Capital Management now owns 1,041 shares of the software maker’s stock valued at $233,000 after purchasing an additional 120 shares in the last quarter. Finally, Canada Pension Plan Investment Board boosted its holdings in Workday by 38.4% during the second quarter. Canada Pension Plan Investment Board now owns 101,370 shares of the software maker’s stock worth $22,662,000 after purchasing an additional 28,102 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY 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 stock’s 50-day simple moving average is $237.48 and its 200 day simple moving average is $242.12. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a market capitalization 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 announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The firm 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 company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm posted $0.40 earnings per share. Research analysts forecast that Workday, Inc. will post 2.39 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WDAY has been the subject of several analyst reports. Evercore ISI decreased their price objective on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Loop Capital increased their price target on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. DA Davidson boosted their price objective on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Bank of America upped their price objective on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Finally, Deutsche Bank Aktiengesellschaft lifted their target price on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $286.48.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction 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 completion of the transaction, the insider now directly owns 505,000 shares in the company, valued at approximately $125,032,950. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In other news, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction dated Wednesday, September 18th. The stock was sold at an average price of $247.59, for a total transaction of $14,112,630.00. Following the completion of the sale, the insider now owns 505,000 shares in the company, valued at approximately $125,032,950. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the completion of the transaction, the insider now owns 674,000 shares in the company, valued at $150,841,200. The disclosure for this sale can be found here. Insiders have sold 467,402 shares of company stock worth $109,864,184 in the last three months. 20.00% of the stock is currently owned by corporate insiders.

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.