Catalyst Capital Advisors LLC Increases Stock Holdings in Workday, Inc. $WDAY

Catalyst Capital Advisors LLC raised its position in Workday, Inc. (NASDAQ:WDAY) by 67.6% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,742 shares of the software maker’s stock after purchasing an additional 3,931 shares during the quarter. Catalyst Capital Advisors LLC’s holdings in Workday were worth $1,266,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in the company. Assetmark Inc. boosted its holdings in Workday by 38.1% during the 1st quarter. Assetmark Inc. now owns 6,983 shares of the software maker’s stock valued at $907,000 after acquiring an additional 1,925 shares during the period. PeakShares LLC acquired a new stake in shares of Workday during the first quarter worth about $130,000. Angeles Wealth Management LLC acquired a new stake in shares of Workday during the first quarter worth about $213,000. Bessemer Group Inc. boosted its stake in shares of Workday by 19.2% in the first quarter. Bessemer Group Inc. now owns 4,642 shares of the software maker’s stock valued at $603,000 after purchasing an additional 748 shares during the period. Finally, Wealthfront Advisers LLC grew its holdings in shares of Workday by 5.5% in the first quarter. Wealthfront Advisers LLC now owns 13,301 shares of the software maker’s stock valued at $1,728,000 after purchasing an additional 699 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

Several equities analysts have commented on the stock. KeyCorp raised their price target on shares of Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a report on Saturday, March 28th. Needham & Company LLC lowered their price target on shares of Workday from $300.00 to $180.00 and set a “buy” rating for the company in a report on Friday, May 22nd. Sanford C. Bernstein restated an “outperform” rating and issued a $216.00 price objective on shares of Workday in a report on Friday, May 22nd. Finally, Piper Sandler boosted their target price on shares of Workday from $135.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $184.00.

Insider Buying and Selling at Workday

In other Workday news, insider Robert Enslin sold 5,374 shares of the business’s stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the sale, the insider directly owned 239,469 shares in the company, valued at approximately $32,304,368.10. The trade was a 2.19% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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, CFO Zane Rowe sold 6,000 shares of the firm’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 completion of the transaction, the chief financial officer directly owned 288,460 shares of the company’s stock, valued at $41,451,702. The trade was a 2.04% decrease in their ownership of the stock. 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 three months, insiders have sold 875,020 shares of company stock valued at $113,938,503. 18.64% of the stock is owned by company insiders.

Workday Stock Performance

Shares of WDAY opened at $144.78 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a market cap of $35.76 billion, a PE ratio of 45.24, a price-to-earnings-growth ratio of 1.56 and a beta of 1.11. The company’s 50 day simple moving average is $131.46 and its 200-day simple moving average is $144.55. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 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 during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm earned $2.23 EPS. Workday’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, equities analysts predict that Workday, Inc. will post 5.34 EPS for the current 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.