Renaissance Technologies LLC Takes Position in Workday, Inc. $WDAY

Renaissance Technologies LLC acquired a new position in Workday, Inc. (NASDAQ:WDAY) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 581,900 shares of the software maker’s stock, valued at approximately $75,600,000. Renaissance Technologies LLC owned 0.23% of Workday at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDAY. Strategic Investment Advisors MI grew its position in Workday by 1.6% during the 2nd quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock worth $777,000 after purchasing an additional 50 shares during the period. CVA Family Office LLC boosted its stake in shares of Workday by 35.3% in the fourth quarter. CVA Family Office LLC now owns 249 shares of the software maker’s stock worth $53,000 after buying an additional 65 shares during the last quarter. Aspire Private Capital LLC grew its holdings in Workday by 1.3% during the fourth quarter. Aspire Private Capital LLC now owns 5,560 shares of the software maker’s stock worth $1,194,000 after acquiring an additional 71 shares during the period. Red Door Wealth Management LLC raised its position in Workday by 5.0% during the fourth quarter. Red Door Wealth Management LLC now owns 1,620 shares of the software maker’s stock valued at $348,000 after acquiring an additional 77 shares in the last quarter. Finally, L2 Asset Management LLC lifted its holdings in Workday by 7.8% in the fourth quarter. L2 Asset Management LLC now owns 1,079 shares of the software maker’s stock valued at $232,000 after acquiring an additional 78 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent research reports. Wells Fargo & Company lifted their target price on shares of Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Workday in a research report on Wednesday, June 17th. Citigroup reaffirmed a “market perform” rating on shares of Workday in a report on Friday, May 22nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $216.00 price objective on shares of Workday in a research report on Friday, May 22nd. Finally, CLSA assumed coverage on shares of Workday in a research note on Monday, July 20th. They set an “underperform” rating and a $92.00 target price on the stock. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $179.80.

Insider Buying and Selling at Workday

In related news, CAO Mark S. Garfield sold 918 shares of the business’s stock in a transaction dated Friday, July 10th. The shares were sold at an average price of $142.19, for a total transaction of $130,530.42. Following the transaction, the chief accounting officer directly owned 73,718 shares in the company, valued at approximately $10,481,962.42. The trade was a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a legal filing 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, insider Gerrit S. Kazmaier sold 2,728 shares of the company’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $143.62, for a total transaction of $391,795.36. Following the sale, the insider directly owned 266,388 shares of the company’s stock, valued at approximately $38,258,644.56. This represents a 1.01% decrease in their position. 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. Over the last three months, insiders have sold 875,020 shares of company stock valued at $113,938,503. 18.64% of the stock is owned by company insiders.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $135.34 on Friday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The firm has a market capitalization of $33.43 billion, a PE ratio of 42.29, a P/E/G ratio of 1.44 and a beta of 1.11. The business’s 50 day moving average price is $133.13 and its 200-day moving average price is $141.84.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.51 by $0.15. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.23 EPS. As a group, equities research analysts expect that Workday, Inc. will post 5.38 earnings per share for the current fiscal 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.