Los Angeles Capital Management LLC Raises Position in Workday, Inc. (NASDAQ:WDAY)

Los Angeles Capital Management LLC increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 26.8% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 216,903 shares of the software maker’s stock after buying an additional 45,836 shares during the quarter. Los Angeles Capital Management LLC owned 0.08% of Workday worth $59,878,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in the business. ORG Partners LLC increased its holdings in shares of Workday by 1.2% in the fourth quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock valued at $788,000 after purchasing an additional 34 shares during the period. Washington Trust Advisors Inc. raised its position in Workday by 8.1% during the 4th quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock worth $133,000 after buying an additional 36 shares during the last quarter. Meitav Investment House Ltd. raised its position in Workday by 2.6% during the 4th quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock worth $387,000 after buying an additional 36 shares during the last quarter. Cigna Investments Inc. New lifted its stake in Workday by 1.7% during the 4th quarter. Cigna Investments Inc. New now owns 2,167 shares of the software maker’s stock valued at $598,000 after acquiring an additional 37 shares during the period. Finally, Waldron Private Wealth LLC boosted its holdings in shares of Workday by 0.9% in the 4th quarter. Waldron Private Wealth LLC now owns 4,691 shares of the software maker’s stock valued at $1,294,000 after acquiring an additional 40 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WDAY. Needham & Company LLC raised their target price on shares of Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. boosted their price objective on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Piper Sandler reaffirmed an “overweight” rating and set a $330.00 target price on shares of Workday in a report on Monday, February 26th. JMP Securities reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Tuesday, February 27th. Finally, Stifel Nicolaus upped their price objective on Workday from $250.00 to $290.00 and gave the stock a “hold” rating in a research report on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the company’s stock. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $293.61.

Insider Buying and Selling at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the transaction, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the transaction, the insider now directly owns 843,000 shares in the company, valued at $223,302,270. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock valued at $117,731,569 over the last quarter. 21.09% of the stock is owned by company insiders.

Workday Trading Up 2.0 %

Shares of NASDAQ WDAY traded up $4.93 during mid-day trading on Friday, reaching $255.78. 3,070,009 shares of the company’s stock were exchanged, compared to its average volume of 1,829,353. The company’s 50-day moving average is $269.08 and its 200-day moving average is $264.57. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market capitalization of $67.53 billion, a price-to-earnings ratio of 49.67, a PEG ratio of 6.12 and a beta of 1.33. Workday, Inc. has a 52-week low of $174.25 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last announced its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.10. The company had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. Workday had a net margin of 19.02% and a return on equity of 4.87%. Workday’s revenue was up 16.8% compared to the same quarter last year. During the same quarter last year, the firm posted ($0.14) earnings per share. Analysts expect that Workday, Inc. will post 1.76 EPS for the current fiscal year.

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.