Oak Associates Ltd. OH Invests $6.62 Million in Workday, Inc. $WDAY

Oak Associates Ltd. OH purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 50,954 shares of the software maker’s stock, valued at approximately $6,620,000.

A number of other large investors have also added to or reduced their stakes in the company. Strategic Investment Advisors MI grew its stake in shares of Workday by 1.6% during the second quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock valued at $777,000 after acquiring an additional 50 shares in the last quarter. CVA Family Office LLC increased its position in shares of Workday by 35.3% during the fourth quarter. CVA Family Office LLC now owns 249 shares of the software maker’s stock worth $53,000 after acquiring an additional 65 shares during the last quarter. Aspire Private Capital LLC lifted its stake in shares of Workday by 1.3% in the fourth quarter. Aspire Private Capital LLC now owns 5,560 shares of the software maker’s stock worth $1,194,000 after acquiring an additional 71 shares in the last quarter. Red Door Wealth Management LLC lifted its stake in shares of Workday by 5.0% in the fourth quarter. Red Door Wealth Management LLC now owns 1,620 shares of the software maker’s stock worth $348,000 after acquiring an additional 77 shares in the last quarter. Finally, L2 Asset Management LLC boosted its holdings in Workday by 7.8% in the fourth quarter. L2 Asset Management LLC now owns 1,079 shares of the software maker’s stock valued at $232,000 after purchasing an additional 78 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Workday

In related news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the completion of the transaction, the chief financial officer owned 288,460 shares in the company, valued at $41,451,702. This trade represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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. Also, major shareholder David A. Duffield sold 107,500 shares of the business’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $136.74, for a total value of $14,699,550.00. Following the completion of the sale, the insider directly owned 105,049 shares in the company, valued at approximately $14,364,400.26. This represents a 50.58% decrease in their position. 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. In the last ninety days, insiders sold 875,020 shares of company stock valued at $113,938,503. Corporate insiders own 18.64% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the stock. Wall Street Zen upgraded shares of Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. HC Wainwright set a $140.00 price target on Workday in a report on Wednesday, May 27th. William Blair upgraded shares of Workday to a “strong-buy” rating in a research report on Friday, May 22nd. Bank of America initiated coverage on Workday in a report on Wednesday, May 27th. They set a “neutral” rating and a $140.00 price target on the stock. Finally, Morgan Stanley downgraded Workday from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $185.00 to $145.00 in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

Workday Stock Performance

Shares of WDAY opened at $127.87 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The company’s fifty day moving average price is $132.93 and its 200 day moving average price is $141.88. The company has a market capitalization of $31.58 billion, a PE ratio of 39.96, a price-to-earnings-growth ratio of 1.40 and a beta of 1.11. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.23 EPS. As a group, analysts expect that Workday, Inc. will post 5.41 earnings per share 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.