Acadian Asset Management LLC Boosts Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Acadian Asset Management LLC lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 373.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 27,538 shares of the software maker’s stock after acquiring an additional 21,727 shares during the quarter. Acadian Asset Management LLC’s holdings in Workday were worth $6,152,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of WDAY. Principal Securities Inc. purchased a new stake in shares of Workday during the fourth quarter worth $507,000. AGF Management Ltd. increased its position in shares of Workday by 151.0% during the fourth quarter. AGF Management Ltd. now owns 3,205 shares of the software maker’s stock worth $885,000 after acquiring an additional 1,928 shares during the period. QRG Capital Management Inc. increased its position in shares of Workday by 198.1% during the fourth quarter. QRG Capital Management Inc. now owns 4,794 shares of the software maker’s stock worth $1,323,000 after acquiring an additional 3,186 shares during the period. Dimensional Fund Advisors LP increased its position in shares of Workday by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 199,304 shares of the software maker’s stock worth $55,020,000 after acquiring an additional 3,231 shares during the period. Finally, Envestnet Portfolio Solutions Inc. increased its position in shares of Workday by 3.9% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 11,378 shares of the software maker’s stock worth $3,141,000 after acquiring an additional 425 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on WDAY shares. KeyCorp upped their price objective on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Morgan Stanley dropped their target price on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Robert W. Baird dropped their target price on Workday from $316.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Loop Capital increased their target price on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, JPMorgan Chase & Co. dropped their target price on Workday from $300.00 to $285.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $288.15.

Workday Trading Up 0.0 %

Shares of Workday stock opened at $255.62 on Thursday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $67.74 billion, a PE ratio of 46.06, a price-to-earnings-growth ratio of 5.47 and a beta of 1.35. The company has a 50-day moving average of $234.31 and a two-hundred day moving average of $244.09.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period last year, the company posted $0.40 earnings per share. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. On average, research analysts anticipate that Workday, Inc. will post 2.27 EPS for the current fiscal year.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the transaction, the insider now directly owns 786,000 shares in the company, valued at approximately $164,407,620. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the completion of the sale, the director now directly owns 90,000 shares in the company, valued at approximately $22,990,500. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction on Friday, June 14th. The shares were sold at an average price of $209.17, for a total value of $11,922,690.00. Following the completion of the transaction, the insider now owns 786,000 shares in the company, valued at approximately $164,407,620. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 523,402 shares of company stock worth $119,914,724. 20.00% of the stock is owned by insiders.

Workday Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.