Van Hulzen Asset Management LLC Takes $511,000 Position in Workday, Inc. $WDAY

Van Hulzen Asset Management LLC acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 4,171 shares of the software maker’s stock, valued at approximately $511,000.

Other hedge funds have also modified their holdings of the company. Rakuten Securities Inc. acquired a new stake in shares of Workday during the second quarter worth $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Workday in the 3rd quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in shares of Workday in the 3rd quarter valued at $30,000. DT Investment Partners LLC purchased a new position in Workday in the 4th quarter worth about $27,000. Finally, Quarry LP purchased a new position in Workday in the 4th quarter worth about $36,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Performance

WDAY stock opened at $185.09 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market cap of $44.61 billion, a P/E ratio of 37.54, a P/E/G ratio of 1.88 and a beta of 1.08. The firm has a 50 day simple moving average of $170.84 and a 200 day simple moving average of $143.94. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.14. Workday had a net margin of 12.32% and a return on equity of 20.95%. The firm had revenue of $2.65 billion for the quarter, compared to analyst estimates of $2.64 billion. During the same quarter in the prior year, the business earned $2.21 EPS. The company’s revenue for the quarter was up 12.8% compared to the same quarter last year. Research analysts anticipate that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, insider Robert Enslin sold 5,374 shares of the stock in a transaction on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the sale, the insider directly owned 239,469 shares in the company, valued at approximately $32,304,368.10. This trade represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible 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, insider Gerrit Kazmaier sold 2,728 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total value of $391,795.36. Following the completion of the transaction, the insider owned 266,388 shares in the company, valued at $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. In the last quarter, insiders have sold 738,096 shares of company stock valued at $106,054,737. Insiders own 18.64% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WDAY. Summit Redstone set a $275.00 price objective on Workday in a report on Wednesday, May 27th. UBS Group set a $230.00 target price on shares of Workday in a research report on Friday, August 28th. BMO Capital Markets boosted their price target on shares of Workday from $182.00 to $230.00 and gave the company an “outperform” rating in a report on Friday, August 28th. Freedom Broker lowered shares of Workday from a “buy” rating to a “hold” rating and raised their price objective for the stock from $180.00 to $200.00 in a research note on Friday, August 28th. Finally, Canaccord Genuity Group lifted their price objective on shares of Workday from $200.00 to $225.00 and gave the stock a “buy” rating in a research report on Tuesday, August 25th. Twenty analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat.com, Workday currently has an average rating of “Hold” and a consensus price target of $206.34.

Workday Profile

Workday, Inc develops cloud-based enterprise software designed to help organizations manage finance, human resources and related business operations. Its platform provides tools for financial management, accounting, procurement, expenses, payroll, workforce management, recruiting, talent management, employee experience and enterprise planning.

The company also offers analytics, reporting and artificial intelligence capabilities that support budgeting, forecasting, workforce planning and business decision-making.