Pacer Advisors Inc. Increases Stake in Workday, Inc. $WDAY

Pacer Advisors Inc. grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 60.4% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,227,051 shares of the software maker’s stock after purchasing an additional 462,002 shares during the quarter. Pacer Advisors Inc.’s holdings in Workday were worth $159,418,000 at the end of the most recent reporting period.

Several other hedge funds have also recently modified their holdings of WDAY. Rakuten Securities Inc. bought a new position in shares of Workday during the second quarter worth $25,000. Measured Wealth Private Client Group LLC bought a new stake in Workday in the 3rd quarter valued at $26,000. JPL Wealth Management LLC bought a new stake in Workday in the 3rd quarter valued at $30,000. DT Investment Partners LLC purchased a new stake in Workday in the 4th quarter worth $27,000. Finally, LRI Investments LLC purchased a new stake in Workday in the 4th quarter worth $29,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on WDAY shares. DA Davidson set a $135.00 price objective on Workday in a research report on Tuesday, May 26th. Oppenheimer reiterated an “outperform” rating on shares of Workday in a research report on Thursday, June 11th. Royal Bank Of Canada reissued an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. Barclays raised Workday from an “overweight” rating to a “buy” rating in a research note on Friday, May 22nd. Finally, Cantor Fitzgerald restated an “overweight” rating on shares of Workday in a report on Wednesday, June 17th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $179.80.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 107,500 shares of the business’s stock in a transaction that occurred on Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the sale, the insider directly owned 105,049 shares of the company’s stock, valued at $12,820,179.96. The trade was a 50.58% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total value of $862,200.00. Following the sale, the chief financial officer owned 288,460 shares in the company, valued at approximately $41,451,702. This trade represents a 2.04% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last quarter, insiders sold 875,020 shares of company stock worth $113,938,503. Corporate insiders own 18.64% of the company’s stock.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $160.34 on Monday. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The stock has a market capitalization of $39.60 billion, a P/E ratio of 50.11, a PEG ratio of 1.71 and a beta of 1.08. The firm has a fifty day simple moving average of $136.31 and a two-hundred day simple moving average of $139.59. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the company earned $2.23 EPS. The business’s revenue was up 13.5% compared to the same quarter last year. On average, analysts expect that Workday, Inc. will post 5.38 earnings per share for the current fiscal year.

Workday Company 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.