Weiss Asset Management LP Makes New $1.39 Million Investment in Workday, Inc. $WDAY

Weiss Asset Management LP acquired a new stake in Workday, Inc. (NASDAQ:WDAY) in the 1st quarter, according to the company in its most recent filing with the SEC. The fund acquired 10,680 shares of the software maker’s stock, valued at approximately $1,388,000.

Other institutional investors and hedge funds have also bought and sold shares of the company. Rakuten Securities Inc. bought a new stake in Workday in the 2nd quarter valued at about $25,000. Measured Wealth Private Client Group LLC acquired a new stake in Workday in the third quarter valued at approximately $26,000. DT Investment Partners LLC acquired a new stake in Workday in the fourth quarter valued at approximately $27,000. LRI Investments LLC bought a new stake in shares of Workday during the fourth quarter valued at approximately $29,000. Finally, JPL Wealth Management LLC bought a new stake in shares of Workday during the third quarter valued at approximately $30,000. 89.81% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Workday news, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total value of $862,200.00. Following the transaction, the chief financial officer directly owned 288,460 shares in the company, valued at $41,451,702. The trade was a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available 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 Robert Enslin sold 5,374 shares of the stock in a transaction that occurred on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the transaction, the insider directly owned 239,469 shares of the company’s stock, valued at $32,304,368.10. This represents a 2.19% 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 owned by insiders.

Analyst Ratings Changes

WDAY has been the subject of a number of recent research reports. Piper Sandler boosted their price target on shares of Workday from $135.00 to $145.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. Cantor Fitzgerald reiterated an “overweight” rating on shares of Workday in a report on Wednesday, June 17th. DA Davidson set a $135.00 target price on shares of Workday in a research report on Tuesday, May 26th. Barclays upgraded shares of Workday from an “overweight” rating to a “buy” rating in a report on Friday, May 22nd. Finally, William Blair raised shares of Workday to a “strong-buy” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have issued a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

Workday Stock Performance

Shares of Workday stock opened at $147.54 on Tuesday. The business’s fifty day simple moving average is $133.51 and its 200 day simple moving average is $140.92. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The firm has a market capitalization of $36.44 billion, a P/E ratio of 46.11, a price-to-earnings-growth ratio of 1.44 and a beta of 1.11.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (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 firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the company earned $2.23 EPS. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, analysts anticipate that Workday, Inc. will post 5.38 EPS for the current year.

Workday 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.