Militia Capital Management LLC Buys New Stake in Workday, Inc. $WDAY

Militia Capital Management LLC purchased a new position in shares of Workday, Inc. (NASDAQ:WDAY) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 3,590 shares of the software maker’s stock, valued at approximately $466,000.

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

Wall Street Analyst Weigh In

A number of research firms have issued reports on WDAY. Needham & Company LLC reduced their target price on shares of Workday from $300.00 to $180.00 and set a “buy” rating on the stock in a report on Friday, May 22nd. Citigroup reissued a “market perform” rating on shares of Workday in a research report on Friday, May 22nd. TD Cowen reissued a “hold” rating on shares of Workday in a research note on Friday, May 22nd. BMO Capital Markets reissued an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. Finally, Summit Redstone set a $275.00 target price on shares of Workday in a research report on Wednesday, May 27th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $179.80.

Insider Buying and Selling

In other Workday news, insider Robert Enslin sold 5,374 shares of the company’s stock in a transaction dated 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 $32,304,368.10. This represents a 2.19% decrease in their ownership of the stock. The sale was disclosed in a legal filing 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, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the completion of the transaction, the chief financial officer owned 288,460 shares in the company, valued at approximately $41,451,702. This trade represents a 2.04% decrease in their ownership of the stock. 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 875,020 shares of company stock valued at $113,938,503. 18.64% of the stock is currently owned by company insiders.

Workday Stock Performance

NASDAQ:WDAY opened at $165.05 on Tuesday. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market cap of $40.77 billion, a P/E ratio of 51.58, a P/E/G ratio of 1.71 and a beta of 1.08. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The firm’s 50 day moving average is $137.05 and its two-hundred day moving average is $139.34.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analyst estimates of $2.52 billion. During the same quarter last year, the business earned $2.23 EPS. Workday’s revenue for the quarter was up 13.5% on a year-over-year basis. Analysts expect that Workday, Inc. will post 5.38 EPS 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.