Managed Asset Portfolios LLC Invests $9.94 Million in Workday, Inc. $WDAY

Managed Asset Portfolios LLC acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 46,258 shares of the software maker’s stock, valued at approximately $9,935,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. First Eagle Investment Management LLC acquired a new stake in shares of Workday during the 3rd quarter worth approximately $556,252,000. PKO Investment Management Joint Stock Co acquired a new stake in shares of Workday during the 3rd quarter worth approximately $1,805,000. Phoenix Financial Ltd. acquired a new stake in shares of Workday during the 3rd quarter worth approximately $2,000,000. Rakuten Investment Management Inc. acquired a new stake in shares of Workday during the 3rd quarter worth approximately $124,718,000. Finally, EULAV Asset Management grew its position in shares of Workday by 69.4% during the 3rd quarter. EULAV Asset Management now owns 61,000 shares of the software maker’s stock worth $14,685,000 after buying an additional 25,000 shares during the period. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WDAY has been the subject of several analyst reports. BTIG Research lowered their price target on shares of Workday from $230.00 to $175.00 and set a “buy” rating for the company in a research report on Wednesday, February 25th. JPMorgan Chase & Co. lowered their price target on shares of Workday from $270.00 to $230.00 and set an “overweight” rating for the company in a research report on Tuesday, February 24th. KeyCorp lowered their price target on shares of Workday from $260.00 to $155.00 and set an “overweight” rating for the company in a research report on Wednesday, February 25th. Weiss Ratings cut shares of Workday from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 20th. Finally, Citizens Jmp cut shares of Workday from an “outperform” rating to a “market perform” rating in a research report on Wednesday, February 18th. Nineteen equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $199.71.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 107,500 shares of the business’s stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total transaction of $13,949,200.00. Following the completion of the transaction, the insider owned 105,049 shares in the company, valued at approximately $13,631,158.24. The trade was a 50.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 9,356 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the transaction, the insider owned 165,074 shares of the company’s stock, valued at approximately $21,193,850.86. This represents a 5.36% decrease in their position. The SEC filing for this sale provides additional information. 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 90 days, insiders have sold 989,814 shares of company stock valued at $131,576,291. Corporate insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $119.76 on Monday. The stock has a market cap of $30.78 billion, a P/E ratio of 46.42, a P/E/G ratio of 1.16 and a beta of 1.14. The firm has a 50 day moving average price of $131.74 and a 200 day moving average price of $183.20. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $276.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.32 by $0.15. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. The business’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.92 earnings per share. Analysts expect that Workday, Inc. will post 5.11 EPS for the current year.

Workday 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.