Workday, Inc. (NASDAQ:WDAY) Shares Acquired by William Blair Investment Management LLC

William Blair Investment Management LLC lifted its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 17.6% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 38,149 shares of the software maker’s stock after purchasing an additional 5,707 shares during the quarter. William Blair Investment Management LLC’s holdings in Workday were worth $8,529,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of Workday by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after purchasing an additional 324,540 shares during the period. Sustainable Growth Advisers LP grew its holdings in shares of Workday by 9.7% during the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after purchasing an additional 301,463 shares during the period. Clearbridge Investments LLC grew its holdings in shares of Workday by 12.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock worth $693,382,000 after purchasing an additional 281,207 shares during the period. Artisan Partners Limited Partnership grew its holdings in shares of Workday by 5.3% during the 4th quarter. Artisan Partners Limited Partnership now owns 1,511,764 shares of the software maker’s stock worth $417,338,000 after purchasing an additional 75,903 shares during the period. Finally, Meritage Group LP grew its holdings in shares of Workday by 27.5% during the 1st quarter. Meritage Group LP now owns 1,277,359 shares of the software maker’s stock worth $348,400,000 after purchasing an additional 275,883 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently weighed in on WDAY shares. KeyCorp increased their price target on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Oppenheimer lowered their target price on Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Mizuho lowered their target price on Workday from $325.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 24th. TD Cowen lowered their target price on Workday from $330.00 to $290.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, Barclays raised their target price on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $288.15.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 730,000 shares of the company’s stock, valued at approximately $159,563,400. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the transaction, the insider now directly owns 196,344 shares in the company, valued at approximately $51,106,379.76. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 466,402 shares of company stock valued at $107,992,034. Corporate insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $249.21 on Tuesday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm has a market capitalization of $66.04 billion, a PE ratio of 44.90, a price-to-earnings-growth ratio of 5.40 and a beta of 1.35. The stock’s 50-day simple moving average is $235.70 and its 200-day simple moving average is $242.70.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share 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 for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the company earned $0.40 EPS. The business’s quarterly revenue was up 16.5% on a year-over-year basis. As a group, equities research analysts forecast that Workday, Inc. will post 2.27 EPS 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.