Workday, Inc. (NASDAQ:WDAY) Shares Purchased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. raised its stake in Workday, Inc. (NASDAQ:WDAY) by 13.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 698,776 shares of the software maker’s stock after acquiring an additional 82,570 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.26% of Workday worth $156,218,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Van ECK Associates Corp raised its position in shares of Workday by 17,345.2% in the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after buying an additional 925,366 shares during the last quarter. Vanguard Group Inc. boosted its position in Workday by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after acquiring an additional 437,215 shares during the last quarter. Kodai Capital Management LP purchased a new stake in Workday in the 4th quarter worth approximately $85,994,000. Sustainable Growth Advisers LP raised its holdings in Workday by 9.7% in the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after acquiring an additional 301,463 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in shares of Workday by 12.4% during the first 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 last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on WDAY shares. BMO Capital Markets dropped their target price on Workday from $338.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Piper Sandler raised their target price on shares of Workday from $262.00 to $285.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Friday. Stifel Nicolaus lifted their price target on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Mizuho dropped their price objective on Workday from $325.00 to $280.00 and set a “buy” rating for the company in a 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 assigned a buy rating to the company. Based on data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average price target of $288.15.

Workday Stock Performance

Shares of WDAY stock opened at $250.05 on Monday. The stock has a market capitalization of $66.26 billion, a price-to-earnings ratio of 45.05, a PEG ratio of 5.40 and a beta of 1.35. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The company’s 50-day simple moving average is $235.24 and its 200-day simple moving average is $243.02. 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 (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities analysts anticipate that Workday, Inc. will post 2.27 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.29, for a total transaction of $812,365.09. Following the transaction, the insider now directly owns 196,344 shares of the company’s stock, valued at $51,106,379.76. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 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 transaction of $812,365.09. Following the completion of the transaction, the insider now owns 196,344 shares in the company, valued at approximately $51,106,379.76. The disclosure for this sale can be found here. Insiders have sold a total of 466,402 shares of company stock worth $107,992,034 over the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

About Workday

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.