Federated Hermes Inc. Raises Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Federated Hermes Inc. lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 25.4% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 439,512 shares of the software maker’s stock after acquiring an additional 89,039 shares during the quarter. Federated Hermes Inc. owned 0.17% of Workday worth $121,332,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of WDAY. RB Capital Management LLC increased its position in shares of Workday by 2.8% during the first quarter. RB Capital Management LLC now owns 2,763 shares of the software maker’s stock valued at $662,000 after acquiring an additional 76 shares during the last quarter. Private Advisor Group LLC grew its holdings in Workday by 11.8% during the first quarter. Private Advisor Group LLC now owns 2,511 shares of the software maker’s stock valued at $601,000 after purchasing an additional 265 shares during the period. MetLife Investment Management LLC bought a new position in Workday during the first quarter valued at $2,974,000. Yousif Capital Management LLC boosted its holdings in shares of Workday by 2.7% in the first quarter. Yousif Capital Management LLC now owns 2,813 shares of the software maker’s stock worth $674,000 after acquiring an additional 74 shares during the period. Finally, Raymond James Trust N.A. boosted its holdings in shares of Workday by 10.3% in the first quarter. Raymond James Trust N.A. now owns 3,391 shares of the software maker’s stock worth $812,000 after acquiring an additional 316 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Workday

In other Workday news, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction dated Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total transaction of $109,695.90. Following the completion of the transaction, the insider now owns 165,521 shares in the company, valued at $44,177,554.90. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, insider Douglas A. Robinson sold 411 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the completion of the sale, the insider now directly owns 165,521 shares in the company, valued at $44,177,554.90. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the sale, the insider now owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock worth $117,731,569 over the last 90 days. Company insiders own 21.09% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on WDAY shares. Wells Fargo & Company increased their price objective on Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a research report on Tuesday, February 20th. KeyCorp boosted their target price on Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a research note on Thursday, February 22nd. UBS Group lowered their target price on Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Morgan Stanley reduced their price target on Workday from $335.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. Finally, BMO Capital Markets upped their target price on Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a report on Tuesday, February 13th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $293.61.

Workday Stock Performance

Workday stock traded up $0.25 during midday trading on Thursday, hitting $257.27. 451,144 shares of the company’s stock were exchanged, compared to its average volume of 1,769,088. Workday, Inc. has a 12-month low of $174.25 and a 12-month high of $311.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The stock has a market cap of $67.92 billion, a price-to-earnings ratio of 49.91, a price-to-earnings-growth ratio of 6.44 and a beta of 1.32. The firm’s 50 day simple moving average is $280.10 and its 200 day simple moving average is $262.03.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter last year, the business earned ($0.14) earnings per share. The business’s revenue for the quarter was up 16.8% compared to the same quarter last year. Equities research analysts predict that Workday, Inc. will post 1.76 EPS for the current year.

Workday Profile

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.