Nilsine Partners LLC Increases Stake in Workday, Inc. $WDAY

Nilsine Partners LLC lifted its position in Workday, Inc. (NASDAQ:WDAY) by 1,121.5% in the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 21,804 shares of the software maker’s stock after acquiring an additional 20,019 shares during the quarter. Nilsine Partners LLC’s holdings in Workday were worth $2,669,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Plato Investment Management Ltd purchased a new stake in shares of Workday in the second quarter worth approximately $1,115,000. Norges Bank bought a new position in Workday in the 4th quarter valued at $448,804,000. S&CO Inc. bought a new position in Workday in the 2nd quarter valued at $2,284,000. Harvest Fund Management Co. Ltd increased its stake in Workday by 40.1% in the fourth 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. Finally, Aurora Investment Counsel purchased a new stake in Workday in the fourth quarter worth $2,357,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In other Workday news, CAO Mark S. Garfield sold 918 shares of the 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 completion of the sale, the chief accounting officer directly owned 73,718 shares of the company’s stock, valued at approximately $10,481,962.42. This represents a 1.23% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 2,728 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total transaction of $391,795.36. Following the transaction, the insider owned 266,388 shares of the company’s stock, valued at approximately $38,258,644.56. This trade 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. Insiders sold a total of 862,481 shares of company stock worth $116,785,581 over the last ninety days. 18.64% of the stock is currently owned by corporate insiders.

Workday Price Performance

Shares of WDAY opened at $195.79 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The company has a 50 day moving average price of $166.01 and a 200-day moving average price of $142.61. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The stock has a market capitalization of $48.36 billion, a PE ratio of 39.71, a PEG ratio of 1.98 and a beta of 1.08.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.14. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. Workday had a net margin of 12.32% and a return on equity of 20.95%. Workday’s revenue for the quarter was up 12.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $2.21 earnings per share. Equities analysts predict that Workday, Inc. will post 5.3 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDAY has been the subject of a number of recent analyst reports. Citigroup boosted their target price on shares of Workday from $139.00 to $201.00 and gave the company a “neutral” rating in a research note on Friday, August 28th. Guggenheim reiterated a “buy” rating and set a $275.00 price objective on shares of Workday in a report on Friday, August 21st. HC Wainwright set a $140.00 price objective on shares of Workday in a research report on Wednesday, May 27th. Piper Sandler upped their target price on shares of Workday from $145.00 to $190.00 and gave the stock a “neutral” rating in a research note on Friday, August 28th. Finally, Weiss Ratings raised shares of Workday from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Thursday, August 13th. Twenty research analysts have rated the stock with a Buy rating, seventeen have given a Hold rating and two have issued a Sell rating to the stock. According to MarketBeat.com, Workday presently has a consensus rating of “Hold” and an average target price of $206.34.

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.