Carmignac Gestion Makes New Investment in Workday, Inc. $WDAY

Carmignac Gestion purchased a new stake in Workday, Inc. (NASDAQ:WDAY) during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 457,500 shares of the software maker’s stock, valued at approximately $59,438,000. Carmignac Gestion owned approximately 0.19% of Workday at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Strategic Investment Advisors MI raised its position in shares of 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 last quarter. Red Door Wealth Management LLC grew its holdings in Workday by 5.0% during the 4th quarter. Red Door Wealth Management LLC now owns 1,620 shares of the software maker’s stock valued at $348,000 after buying an additional 77 shares during the last quarter. L2 Asset Management LLC increased its position in Workday by 7.8% during the fourth quarter. L2 Asset Management LLC now owns 1,079 shares of the software maker’s stock worth $232,000 after buying an additional 78 shares in the last quarter. Oregon Public Employees Retirement Fund increased its position in Workday by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,798 shares of the software maker’s stock worth $5,326,000 after buying an additional 80 shares in the last quarter. Finally, Stevens Capital Management LP raised its holdings in shares of Workday by 4.3% in the fourth quarter. Stevens Capital Management LP now owns 2,054 shares of the software maker’s stock worth $441,000 after acquiring an additional 84 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently issued reports on WDAY shares. Royal Bank Of Canada restated an “outperform” rating on shares of Workday in a research report on Friday, May 22nd. Summit Redstone set a $275.00 price objective on Workday in a research report on Wednesday, May 27th. The Goldman Sachs Group cut their target price on shares of Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a research note on Tuesday, May 26th. 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. Finally, Morgan Stanley cut shares of Workday from an “equal weight” rating to an “underweight” rating and decreased their price target for the stock from $185.00 to $145.00 in a research note on Tuesday, July 21st. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $179.80.

Insider Activity

In other news, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction dated Tuesday, June 30th. The shares were sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the completion of the transaction, the insider owned 105,049 shares of the company’s stock, valued at $12,820,179.96. This represents a 50.58% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Enslin sold 5,374 shares of the 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 transaction, the insider owned 239,469 shares in the company, valued at approximately $32,304,368.10. The trade was a 2.19% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 875,020 shares of company stock valued at $113,938,503 in the last 90 days. 18.64% of the stock is currently owned by insiders.

Workday Price Performance

WDAY stock opened at $160.34 on Monday. The stock has a market capitalization of $39.60 billion, a price-to-earnings ratio of 50.11, a price-to-earnings-growth ratio of 1.71 and a beta of 1.08. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85. The stock’s fifty day simple moving average is $136.31 and its 200-day simple moving average is $139.59.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate 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 analyst estimates of $2.52 billion. During the same period in the prior year, the firm posted $2.23 earnings per share. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. Equities research 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.