National Pension Service Grows Stake in Workday, Inc. (NASDAQ:WDAY)

National Pension Service increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 9.1% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 558,378 shares of the software maker’s stock after buying an additional 46,583 shares during the quarter. National Pension Service owned about 0.21% of Workday worth $136,473,000 as of its most recent SEC filing.

A number of other hedge funds have also recently added to or reduced their stakes in WDAY. Vanguard Group Inc. lifted its position in Workday by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after acquiring an additional 324,540 shares during the period. Sustainable Growth Advisers LP lifted its position in Workday by 9.7% during the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after acquiring an additional 301,463 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Workday by 12.4% in 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 during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after buying an additional 1,016,394 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Workday by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after buying an additional 118,180 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Up 0.8 %

NASDAQ:WDAY opened at $241.14 on Tuesday. 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 business’s 50 day moving average is $246.61 and its two-hundred day moving average is $235.86. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a market cap of $63.90 billion, a PE ratio of 42.01, a P/E/G ratio of 4.75 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the firm earned $0.40 EPS. The business’s quarterly revenue was up 16.5% on a year-over-year basis. On average, analysts predict that Workday, Inc. will post 2.4 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently commented on WDAY. Needham & Company LLC reduced their price target on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. Wells Fargo & Company boosted their target price on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Canaccord Genuity Group reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Friday, September 13th. BMO Capital Markets reiterated an “outperform” rating and set a $300.00 target price on shares of Workday in a research report on Wednesday, September 18th. Finally, DA Davidson boosted their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.04.

Insider Buying and Selling at Workday

In other news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.29, for a total transaction of $812,365.09. Following the completion of the sale, the insider now directly owns 196,344 shares of the company’s stock, valued at $51,106,379.76. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. In other news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the sale, the insider now directly owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the sale, the insider now directly owns 196,344 shares in the company, valued at approximately $51,106,379.76. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is owned by corporate insiders.

About Workday

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.