The Manufacturers Life Insurance Company Increases Holdings in Workday, Inc. (NASDAQ:WDAY)

The Manufacturers Life Insurance Company increased its stake in Workday, Inc. (NASDAQ:WDAY) by 79.1% during the second quarter, according to its most recent filing with the SEC. The fund owned 2,302,008 shares of the software maker’s stock after buying an additional 1,016,394 shares during the quarter. The Manufacturers Life Insurance Company owned 0.87% of Workday worth $514,637,000 at the end of the most recent quarter.

Several other institutional investors also recently added to or reduced their stakes in WDAY. William Blair Investment Management LLC boosted its stake in Workday by 17.6% in the first quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock valued at $8,849,000 after acquiring an additional 4,865 shares during the last quarter. ORG Partners LLC raised its stake in shares of Workday by 3,717.9% in the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after buying an additional 3,123 shares during the period. Bornite Capital Management LP purchased a new position in shares of Workday during the 4th quarter valued at $34,508,000. Nordea Investment Management AB increased its holdings in Workday by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after acquiring an additional 13,502 shares during the last quarter. Finally, Bain Capital Public Equity LP raised its stake in Workday by 32.5% in the 4th quarter. Bain Capital Public Equity LP now owns 22,471 shares of the software maker’s stock valued at $6,203,000 after acquiring an additional 5,513 shares during the period. Institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 78,279 shares of Workday stock in a transaction dated 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 sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $23,059,998.33. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, major shareholder David A. Duffield sold 78,279 shares of the firm’s stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $23,059,998.33. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the sale, the insider now owns 102,997 shares in the company, valued at $26,902,816.40. The disclosure for this sale can be found here. Insiders have sold 467,402 shares of company stock valued at $111,071,544 in the last ninety days. Company insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the topic of several research reports. The Goldman Sachs Group boosted their price target on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. DA Davidson increased their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Guggenheim reiterated a “sell” rating and issued a $190.00 price target on shares of Workday in a research report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft increased their price objective on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Finally, Needham & Company LLC reduced their target price on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. One 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 company’s stock. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $287.04.

Workday Stock Performance

NASDAQ:WDAY opened at $245.43 on Friday. The company has a market capitalization of $65.04 billion, a price-to-earnings ratio of 44.22, a PEG ratio of 4.91 and a beta of 1.35. The business has a 50 day moving average of $238.49 and a 200 day moving average of $241.73. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data 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. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the firm 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 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.