Workday, Inc. $WDAY Shares Bought by Catalyst Capital Advisors LLC

Catalyst Capital Advisors LLC lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 67.6% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 9,742 shares of the software maker’s stock after acquiring an additional 3,931 shares during the period. Catalyst Capital Advisors LLC’s holdings in Workday were worth $1,266,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the stock. Norges Bank purchased a new position in shares of Workday in the 4th quarter valued at $448,804,000. Harvest Fund Management Co. Ltd boosted its position in Workday by 40.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock worth $11,943,000 after purchasing an additional 15,903 shares during the period. Robeco Institutional Asset Management B.V. increased its holdings in Workday by 18.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock valued at $122,804,000 after purchasing an additional 88,384 shares in the last quarter. Aurora Investment Counsel purchased a new position in Workday in the fourth quarter valued at about $2,357,000. Finally, Morningstar Investment Management LLC raised its position in Workday by 127.2% in the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock valued at $5,808,000 after purchasing an additional 15,138 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on WDAY shares. KeyCorp increased their target price on Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. BTIG Research restated a “buy” rating and issued a $175.00 price target on shares of Workday in a report on Monday, May 18th. Wall Street Zen upgraded shares of Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Cantor Fitzgerald reissued an “overweight” rating on shares of Workday in a research report on Wednesday, June 17th. Finally, UBS Group upped their target price on shares of Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $184.00.

Workday Stock Down 0.4%

NASDAQ:WDAY opened at $144.78 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a market capitalization of $35.76 billion, a PE ratio of 45.24, a price-to-earnings-growth ratio of 1.56 and a beta of 1.11. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The stock has a 50 day moving average of $131.46 and a 200-day moving average of $144.55.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating 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 company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period last year, the company earned $2.23 earnings per share. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. Analysts predict that Workday, Inc. will post 5.34 EPS for the current year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 107,500 shares of the firm’s stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the completion of the sale, the insider directly owned 105,049 shares in the company, valued at approximately $12,820,179.96. This trade represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction 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 directly owned 288,460 shares in the company, valued at $41,451,702. This trade represents a 2.04% decrease in their ownership of the stock. 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 ninety days, insiders have sold 875,020 shares of company stock valued at $113,938,503. Company insiders own 18.64% of the company’s stock.

About Workday

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.