PKO Investment Management Joint Stock Co Makes New $1.81 Million Investment in Workday, Inc. $WDAY

PKO Investment Management Joint Stock Co purchased a new stake in shares of Workday, Inc. (NASDAQ:WDAY) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund purchased 7,500 shares of the software maker’s stock, valued at approximately $1,805,000.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Rakuten Securities Inc. bought a new position in shares of Workday in the second quarter worth $25,000. Berbice Capital Management LLC grew its position in Workday by 136.4% in the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after buying an additional 75 shares in the last quarter. Golden State Wealth Management LLC lifted its stake in shares of Workday by 2,216.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock worth $33,000 after acquiring an additional 133 shares during the period. Twin Peaks Wealth Advisors LLC bought a new position in shares of Workday in the second quarter valued at approximately $41,000. Finally, Physician Wealth Advisors Inc. acquired a new position in shares of Workday during the second quarter valued at approximately $42,000. 89.81% of the stock is owned by institutional investors.

Workday Price Performance

Shares of WDAY opened at $207.91 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. The firm has a market cap of $54.68 billion, a PE ratio of 87.36, a PEG ratio of 2.34 and a beta of 1.14. The firm’s 50 day moving average price is $219.25 and its 200 day moving average price is $228.15. Workday, Inc. has a twelve month low of $202.22 and a twelve month high of $283.68.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the business earned $1.89 EPS. Workday’s quarterly revenue was up 12.6% compared to the same quarter last year. As a group, research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In other news, insider Gerrit S. Kazmaier sold 6,547 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $218.77, for a total value of $1,432,287.19. Following the completion of the transaction, the insider owned 111,353 shares in the company, valued at approximately $24,360,695.81. This represents a 5.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 82,884 shares of Workday stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the sale, the insider owned 105,049 shares in the company, valued at approximately $22,034,027.75. This trade represents a 44.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 370,321 shares of company stock worth $78,866,401. Corporate insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

WDAY has been the subject of a number of research analyst reports. DA Davidson cut their target price on Workday from $260.00 to $250.00 and set a “hold” rating for the company in a research report on Wednesday, November 26th. BTIG Research started coverage on Workday in a report on Tuesday, December 16th. They issued a “buy” rating and a $285.00 price objective for the company. Macquarie reaffirmed a “buy” rating on shares of Workday in a report on Wednesday, November 26th. Weiss Ratings restated a “hold (c)” rating on shares of Workday in a research report on Wednesday, October 8th. Finally, Sanford C. Bernstein cut their price objective on Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a research report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and thirteen have assigned a Hold rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $278.09.

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.