Pacer Advisors Inc. Increases Holdings in Workday, Inc. $WDAY

Pacer Advisors Inc. raised its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 60.4% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 1,227,051 shares of the software maker’s stock after buying an additional 462,002 shares during the period. Pacer Advisors Inc. owned about 0.50% of Workday worth $159,418,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Rakuten Securities Inc. purchased a new stake in Workday during the second quarter valued at $25,000. Measured Wealth Private Client Group LLC bought a new position in Workday in the third quarter valued at about $26,000. DT Investment Partners LLC purchased a new position in Workday in the fourth quarter worth about $27,000. LRI Investments LLC bought a new stake in shares of Workday during the 4th quarter valued at about $29,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Workday during the 3rd quarter valued at about $30,000. 89.81% of the stock is owned by institutional investors.

Workday Price Performance

WDAY stock opened at $160.34 on Monday. The business’s 50-day moving average price is $136.31 and its 200-day moving average price is $139.59. The stock has a market cap of $39.60 billion, a P/E ratio of 50.11, a PEG ratio of 1.71 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85.

Workday (NASDAQ:WDAY) last released its earnings results 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. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the firm posted $2.23 EPS. The firm’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts forecast that Workday, Inc. will post 5.38 EPS for the current year.

Insider Transactions at Workday

In other news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction 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 Securities & Exchange Commission, which is available at 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 Gerrit S. Kazmaier sold 2,728 shares of Workday stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total transaction of $391,795.36. Following the transaction, the insider owned 266,388 shares in the company, valued at approximately $38,258,644.56. This trade represents a 1.01% 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. Over the last quarter, insiders sold 875,020 shares of company stock valued at $113,938,503. Company insiders own 18.64% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WDAY. CLSA assumed coverage on shares of Workday in a research note on Monday, July 20th. They issued an “underperform” rating and a $92.00 price objective on the stock. Piper Sandler boosted their target price on shares of Workday from $135.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, May 22nd. The Goldman Sachs Group reduced their target price on shares of Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a report on Tuesday, May 26th. HC Wainwright set a $140.00 price target on shares of Workday in a research report on Wednesday, May 27th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. According to data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $179.80.

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.