11,948 Shares in Workday, Inc. $WDAY Purchased by SummitTX Capital L.P.

SummitTX Capital L.P. acquired a new stake in shares of Workday, Inc. (NASDAQ:WDAY) in the first quarter, HoldingsChannel reports. The fund acquired 11,948 shares of the software maker’s stock, valued at approximately $1,552,000.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC boosted its stake in shares of Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after buying an additional 2,792 shares during the last quarter. Empowered Funds LLC raised its holdings in Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after acquiring an additional 1,206 shares in the last quarter. Geneos Wealth Management Inc. boosted its stake in Workday by 211.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after acquiring an additional 127 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in Workday during the 2nd quarter worth $281,000. Finally, NewEdge Advisors LLC grew its holdings in Workday by 32.0% during the 2nd quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock worth $1,583,000 after acquiring an additional 1,600 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Trading Up 5.2%

NASDAQ:WDAY opened at $168.01 on Thursday. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85. The firm has a market capitalization of $41.50 billion, a P/E ratio of 52.50, a P/E/G ratio of 1.70 and a beta of 1.11. 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 business has a 50 day simple moving average of $134.94 and a 200 day simple moving average of $140.27.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the business earned $2.23 EPS. The firm’s revenue was up 13.5% on a year-over-year basis. Equities research analysts predict that Workday, Inc. will post 5.38 EPS for the current year.

Wall Street Analyst Weigh In

A number of brokerages have recently issued reports on WDAY. HC Wainwright set a $140.00 target price on shares of Workday in a research note on Wednesday, May 27th. Wolfe Research reaffirmed an “outperform” rating and set a $160.00 target price on shares of Workday in a report on Friday, May 22nd. Barclays raised Workday from an “overweight” rating to a “buy” rating in a research report on Friday, May 22nd. BMO Capital Markets reiterated an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. Finally, Monness Crespi & Hardt upgraded shares of Workday from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a research report on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company’s stock. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average price target of $179.80.

Insider Transactions at Workday

In related news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total value of $862,200.00. Following the sale, the chief financial officer directly owned 288,460 shares in the company, valued at $41,451,702. This trade represents a 2.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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, insider Robert Enslin sold 5,374 shares of the business’s stock in a transaction dated Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the transaction, the insider directly owned 239,469 shares of the company’s stock, valued at $32,304,368.10. The trade was a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 quarter, insiders sold 875,020 shares of company stock worth $113,938,503. Insiders own 18.64% of the company’s stock.

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.