Dimensional Fund Advisors LP Increases Holdings in Workday, Inc. (NASDAQ:WDAY)

Dimensional Fund Advisors LP boosted its position in Workday, Inc. (NASDAQ:WDAY) by 10.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 226,117 shares of the software maker’s stock after purchasing an additional 22,290 shares during the period. Dimensional Fund Advisors LP’s holdings in Workday were worth $50,552,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WDAY. Carolinas Wealth Consulting LLC increased its position in Workday by 9.7% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after purchasing an additional 34 shares in the last quarter. Raleigh Capital Management Inc. raised its position in shares of Workday by 4.7% in the fourth quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock valued at $240,000 after buying an additional 39 shares during the last quarter. Dorsey & Whitney Trust CO LLC lifted its stake in shares of Workday by 4.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker’s stock valued at $281,000 after buying an additional 43 shares during the period. Diversified Trust Co grew its stake in Workday by 1.0% in the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock worth $1,080,000 after acquiring an additional 47 shares during the period. Finally, Sound Income Strategies LLC raised its holdings in Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after acquiring an additional 49 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WDAY has been the topic of several recent analyst reports. Deutsche Bank Aktiengesellschaft increased their target price on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Canaccord Genuity Group reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Friday, September 13th. Guggenheim restated a “sell” rating and set a $190.00 price objective on shares of Workday in a report on Tuesday, June 25th. Evercore ISI reduced their target price on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Finally, Barclays raised their price objective on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $287.04.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Friday, July 5th. The stock was sold at an average price of $228.12, for a total transaction of $12,774,720.00. Following the sale, the insider now owns 618,000 shares of the company’s stock, valued at approximately $140,978,160. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Friday, July 5th. The stock was sold at an average price of $228.12, for a total transaction of $12,774,720.00. Following the transaction, the insider now directly owns 618,000 shares of the company’s stock, valued at approximately $140,978,160. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 76,376 shares of the company’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $226.74, for a total transaction of $17,317,494.24. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $23,353,539.78. The disclosure for this sale can be found here. In the last three months, insiders have sold 389,123 shares of company stock valued at $93,545,659. 20.00% of the stock is owned by insiders.

Workday Stock Performance

Shares of WDAY stock opened at $243.62 on Monday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a market capitalization of $64.56 billion, a price-to-earnings ratio of 43.90, a PEG ratio of 4.91 and a beta of 1.35. The company has a 50-day simple moving average of $238.82 and a 200 day simple moving average of $241.16. 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 quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. On average, sell-side analysts predict that Workday, Inc. will post 2.39 earnings per share for the current 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.