Prime Capital Investment Advisors LLC Raises Stock Position in Workday, Inc. (NASDAQ:WDAY)

Prime Capital Investment Advisors LLC raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 3.7% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 18,588 shares of the software maker’s stock after purchasing an additional 669 shares during the quarter. Prime Capital Investment Advisors LLC’s holdings in Workday were worth $4,156,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in WDAY. Van ECK Associates Corp increased its position in Workday by 17,345.2% during the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after purchasing an additional 925,366 shares during the period. Vanguard Group Inc. boosted its holdings in shares of Workday by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock valued at $3,988,549,000 after buying an additional 437,215 shares in the last quarter. Kodai Capital Management LP bought a new stake in shares of Workday during the 4th quarter valued at $85,994,000. Sustainable Growth Advisers LP boosted its holdings in shares of Workday by 9.7% during the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after buying an additional 301,463 shares in the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Workday by 12.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after buying an additional 281,207 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other news, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction dated Monday, July 8th. The shares were sold at an average price of $226.67, for a total transaction of $710,383.78. Following the completion of the sale, the insider now owns 92,014 shares of the company’s stock, valued at approximately $20,856,813.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $226.67, for a total value of $710,383.78. Following the completion of the sale, the insider now directly owns 92,014 shares of the company’s stock, valued at approximately $20,856,813.38. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the completion of the sale, the insider now directly owns 730,000 shares of the company’s stock, valued at $159,563,400. The disclosure for this sale can be found here. Insiders sold 466,402 shares of company stock valued at $107,992,034 in the last quarter. 20.00% of the stock is currently owned by insiders.

Workday Price Performance

NASDAQ WDAY opened at $250.05 on Monday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The firm has a market capitalization of $66.26 billion, a P/E ratio of 45.05, a PEG ratio of 5.40 and a beta of 1.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $235.24 and a 200-day moving average price of $243.02.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities research analysts anticipate that Workday, Inc. will post 2.27 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on WDAY. TD Cowen dropped their target price on shares of Workday from $330.00 to $290.00 and set a “buy” rating on the stock in a report on Friday, May 24th. Barclays boosted their target price on shares of Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Evercore ISI dropped their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. DA Davidson upped their price target on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Finally, JPMorgan Chase & Co. dropped their price target on shares of Workday from $300.00 to $285.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.15.

Workday Profile

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.