Invesco Ltd. Acquires 205,403 Shares of Workday, Inc. $WDAY

Invesco Ltd. grew its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 10.4% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 2,187,137 shares of the software maker’s stock after acquiring an additional 205,403 shares during the quarter. Invesco Ltd. owned about 0.82% of Workday worth $524,913,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. Verdence Capital Advisors LLC increased its holdings in shares of Workday by 1.0% in the 2nd quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock worth $1,051,000 after buying an additional 45 shares during the last quarter. Bristlecone Advisors LLC raised its holdings in shares of Workday by 1.6% during the 1st quarter. Bristlecone Advisors LLC now owns 2,968 shares of the software maker’s stock valued at $693,000 after buying an additional 47 shares in the last quarter. Perennial Investment Advisors LLC lifted its position in Workday by 2.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock worth $418,000 after buying an additional 48 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in Workday by 2.3% in the second quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock worth $528,000 after buying an additional 49 shares in the last quarter. Finally, Kingsview Wealth Management LLC grew its position in Workday by 1.1% during the second quarter. Kingsview Wealth Management LLC now owns 4,544 shares of the software maker’s stock valued at $1,091,000 after acquiring an additional 50 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WDAY shares. Stifel Nicolaus lowered their price objective on shares of Workday from $255.00 to $235.00 and set a “hold” rating for the company in a report on Wednesday, November 26th. TD Cowen lowered their price target on shares of Workday from $290.00 to $280.00 and set a “buy” rating for the company in a research note on Wednesday, November 26th. Royal Bank Of Canada decreased their price objective on Workday from $340.00 to $320.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. Rosenblatt Securities initiated coverage on Workday in a research note on Tuesday. They issued a “neutral” rating and a $235.00 target price for the company. Finally, JMP Securities restated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, Workday has an average rating of “Moderate Buy” and an average price target of $281.16.

Insider Activity

In related news, CAO Mark S. Garfield sold 1,915 shares of the business’s stock in a transaction dated Thursday, October 9th. The shares were sold at an average price of $238.96, for a total transaction of $457,608.40. Following the transaction, the chief accounting officer owned 37,351 shares in the company, valued at $8,925,394.96. The trade was a 4.88% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Michael M. Mcnamara sold 5,393 shares of the stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the completion of the transaction, the director directly owned 24,078 shares of the company’s stock, valued at approximately $5,662,182.48. The trade was a 18.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 346,958 shares of company stock worth $78,880,645. 19.31% of the stock is owned by company insiders.

Workday Price Performance

Shares of WDAY stock opened at $216.62 on Friday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $294.00. The firm has a market cap of $57.84 billion, a P/E ratio of 91.02, a P/E/G ratio of 2.60 and a beta of 1.15. The business’s 50 day moving average price is $231.04 and its 200-day moving average price is $234.36.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm’s revenue was up 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.89 earnings per share. On average, equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current 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.