Arrowstreet Capital Limited Partnership Boosts Stock Position in Workday, Inc. $WDAY

Arrowstreet Capital Limited Partnership boosted its holdings in Workday, Inc. (NASDAQ:WDAY) by 22.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,360,166 shares of the software maker’s stock after purchasing an additional 252,341 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in Workday were worth $292,136,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Rakuten Securities Inc. bought a new stake in shares of Workday in the second quarter valued at $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Workday in the third quarter valued at $26,000. DT Investment Partners LLC bought a new stake in shares of Workday in the fourth quarter valued at $27,000. LRI Investments LLC bought a new stake in shares of Workday in the fourth quarter valued at $29,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Workday in the third quarter valued at $30,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several research reports. UBS Group boosted their target price on Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. Summit Redstone set a $275.00 target price on Workday in a research note on Wednesday, May 27th. KeyCorp boosted their target price on Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Citizens Jmp lowered Workday from an “outperform” rating to a “market perform” rating in a research note on Wednesday, February 18th. Finally, Mizuho lowered their target price on Workday from $275.00 to $210.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $185.03.

Workday Stock Performance

NASDAQ:WDAY opened at $130.80 on Monday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85. The firm has a market cap of $32.31 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 1.39 and a beta of 1.09. The business’s fifty day moving average is $128.10 and its 200 day moving average is $159.55.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the previous year, the company posted $2.23 EPS. The firm’s revenue for the quarter was up 13.5% compared to the same quarter last year. Research analysts predict that Workday, Inc. will post 5.4 EPS for the current year.

Insider Activity at Workday

In related news, CAO Mark S. Garfield sold 1,585 shares of the business’s stock in a transaction on Friday, April 10th. The stock was sold at an average price of $113.05, for a total transaction of $179,184.25. Following the sale, the chief accounting officer directly owned 31,467 shares in the company, valued at approximately $3,557,344.35. The trade was a 4.80% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total value of $769,320.00. Following the sale, the chief financial officer owned 217,930 shares in the company, valued at approximately $27,942,984.60. The trade was a 2.68% 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. Insiders sold a total of 774,814 shares of company stock worth $102,709,316 in the last 90 days. 18.64% of the stock is owned by company insiders.

About Workday

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.