HB Wealth Management LLC Boosts Stake in Workday, Inc. $WDAY

HB Wealth Management LLC boosted its stake in Workday, Inc. (NASDAQ:WDAY) by 181.0% in the 2nd quarter, Holdings Channel reports. The firm owned 20,328 shares of the software maker’s stock after purchasing an additional 13,094 shares during the period. HB Wealth Management LLC’s holdings in Workday were worth $2,489,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Nilsine Partners LLC boosted its position in shares of Workday by 1,121.5% during the second quarter. Nilsine Partners LLC now owns 21,804 shares of the software maker’s stock worth $2,669,000 after buying an additional 20,019 shares during the period. Saudi Central Bank raised its holdings in shares of Workday by 87.5% in the 2nd quarter. Saudi Central Bank now owns 14,738 shares of the software maker’s stock valued at $1,804,000 after buying an additional 6,876 shares during the period. Angeles Wealth Management LLC raised its holdings in shares of Workday by 94.4% in the 2nd quarter. Angeles Wealth Management LLC now owns 3,182 shares of the software maker’s stock valued at $390,000 after buying an additional 1,545 shares during the period. AlphaGrep UK Ltd acquired a new position in Workday during the 2nd quarter worth about $516,000. Finally, Odyssean LLC lifted its stake in Workday by 69.8% during the 2nd quarter. Odyssean LLC now owns 17,273 shares of the software maker’s stock worth $2,115,000 after acquiring an additional 7,100 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

WDAY stock opened at $186.28 on Wednesday. The business’s 50-day moving average is $168.73 and its two-hundred day moving average is $143.28. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $44.89 billion, a P/E ratio of 37.79, a P/E/G ratio of 1.98 and a beta of 1.08. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, topping analysts’ consensus estimates of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The business’s quarterly revenue was up 12.8% compared to the same quarter last year. Analysts anticipate that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research firms have weighed in on WDAY. Wells Fargo & Company lifted their target price on Workday from $215.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. BMO Capital Markets increased their price target on shares of Workday from $182.00 to $230.00 and gave the stock an “outperform” rating in a research report on Friday, August 28th. Needham & Company LLC raised their price objective on shares of Workday from $180.00 to $230.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Monness Crespi & Hardt lifted their price objective on shares of Workday from $202.00 to $218.00 and gave the company a “buy” rating in a report on Friday, August 28th. Finally, UBS Group set a $230.00 target price on shares of Workday in a research note on Friday, August 28th. Twenty equities research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $206.34.

Insiders Place Their Bets

In related news, insider Robert Enslin sold 5,374 shares of the business’s stock in a transaction that occurred on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the sale, the insider owned 239,469 shares in the company, valued at $32,304,368.10. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Gerrit S. Kazmaier sold 2,728 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total transaction of $391,795.36. Following the completion of the transaction, the insider owned 266,388 shares of the company’s stock, valued at approximately $38,258,644.56. The trade was a 1.01% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last 90 days, insiders sold 754,981 shares of company stock valued at $101,916,181. 18.64% of the stock is owned by insiders.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.