Madison Asset Management LLC Invests $20 Million in Workday, Inc. $WDAY

Madison Asset Management LLC bought a new stake in Workday, Inc. (NASDAQ:WDAY) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 93,120 shares of the software maker’s stock, valued at approximately $20,000,000.

Other large investors have also recently modified their holdings of the company. First Eagle Investment Management LLC bought a new position in Workday during the 3rd quarter worth $556,252,000. PKO Investment Management Joint Stock Co acquired a new position in Workday in the third quarter valued at approximately $1,805,000. Phoenix Financial Ltd. bought a new position in Workday during the third quarter worth $2,000,000. Rakuten Investment Management Inc. acquired a new stake in Workday in the third quarter worth $124,718,000. Finally, EULAV Asset Management grew its holdings in Workday by 69.4% in the third quarter. EULAV Asset Management now owns 61,000 shares of the software maker’s stock worth $14,685,000 after purchasing an additional 25,000 shares during the period. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WDAY. KeyCorp dropped their price objective on shares of Workday from $260.00 to $155.00 and set an “overweight” rating on the stock in a report on Wednesday, February 25th. Wells Fargo & Company reduced their target price on Workday from $255.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. BMO Capital Markets dropped their price target on Workday from $204.00 to $182.00 and set an “outperform” rating on the stock in a research note on Wednesday, February 25th. TD Cowen lowered Workday from a “buy” rating to a “hold” rating and set a $155.00 price target on the stock. in a report on Wednesday, February 25th. Finally, JPMorgan Chase & Co. reduced their price objective on Workday from $270.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. Nineteen analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus target price of $199.71.

Insider Buying and Selling at Workday

In related news, CAO Mark S. Garfield sold 1,585 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $113.05, for a total transaction of $179,184.25. Following the sale, the chief accounting officer directly owned 31,467 shares in the company, valued at approximately $3,557,344.35. This represents a 4.80% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the completion of the transaction, the insider directly owned 165,074 shares of the company’s stock, valued at approximately $21,193,850.86. This trade represents a 5.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last 90 days, insiders sold 989,814 shares of company stock valued at $131,576,291. Insiders own 18.64% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $118.62 on Wednesday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. The company has a market capitalization of $30.49 billion, a PE ratio of 45.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.04. The company has a 50-day simple moving average of $128.95 and a 200 day simple moving average of $175.19. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $276.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The business had revenue of $2.53 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the company earned $1.92 earnings per share. Workday’s revenue was up 14.5% compared to the same quarter last year. On average, research analysts predict that Workday, Inc. will post 5.11 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.