Royal London Asset Management Ltd. Raises Stake in Workday, Inc. (NASDAQ:WDAY)

Royal London Asset Management Ltd. lifted its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 6.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 83,801 shares of the software maker’s stock after acquiring an additional 5,188 shares during the period. Royal London Asset Management Ltd.’s holdings in Workday were worth $18,735,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of WDAY. William Blair Investment Management LLC boosted its holdings in Workday by 17.6% in the 1st quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock valued at $8,849,000 after purchasing an additional 4,865 shares during the last quarter. Assetmark Inc. lifted its holdings in Workday by 9.9% in the fourth quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock valued at $5,912,000 after acquiring an additional 1,933 shares during the last quarter. ORG Partners LLC grew its position in Workday by 3,717.9% in the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock worth $721,000 after acquiring an additional 3,123 shares during the period. Bornite Capital Management LP acquired a new stake in Workday during the fourth quarter worth $34,508,000. Finally, Nordea Investment Management AB raised its position in Workday by 3.0% in the first quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock valued at $128,851,000 after purchasing an additional 13,502 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on WDAY shares. DA Davidson increased their price target on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Loop Capital lifted their price target on shares of Workday from $240.00 to $255.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Evercore ISI reduced their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. The Goldman Sachs Group lowered their price objective on shares of Workday from $310.00 to $300.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, UBS Group cut their target price on Workday from $280.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $288.15.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 57,000 shares of the company’s 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 sale was disclosed in a document filed with the SEC, which is available at this link. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the transaction, the insider now owns 730,000 shares of the company’s stock, valued at $159,563,400. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 786,000 shares of the company’s stock, valued at approximately $164,407,620. The disclosure for this sale can be found here. Insiders have sold 523,402 shares of company stock worth $119,914,724 over the last three months. Insiders own 20.00% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $255.62 on Thursday. The company has a market cap of $67.74 billion, a P/E ratio of 46.06, a PEG ratio of 5.47 and a beta of 1.35. The firm has a fifty day moving average price of $234.31 and a 200 day moving average price of $244.09. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the firm posted $0.40 EPS. The business’s quarterly revenue was up 16.5% compared to the same quarter last year. Sell-side analysts predict that Workday, Inc. will post 2.27 earnings per share for the current fiscal year.

Workday Company 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.