Advent International L.P. Acquires 234,650 Shares of Workday, Inc. $WDAY

Advent International L.P. grew its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 803.6% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 263,850 shares of the software maker’s stock after buying an additional 234,650 shares during the period. Workday accounts for about 2.1% of Advent International L.P.’s investment portfolio, making the stock its 11th largest position. Advent International L.P. owned about 0.10% of Workday worth $63,324,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently made changes to their positions in the company. Verdence Capital Advisors LLC raised its holdings in shares of Workday by 1.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock worth $1,051,000 after acquiring an additional 45 shares in the last quarter. Perennial Investment Advisors LLC lifted its position in shares of Workday by 2.8% during the second quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock worth $418,000 after purchasing an additional 48 shares during the last quarter. Johnson Investment Counsel Inc. boosted its position in Workday by 2.3% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock valued at $528,000 after buying an additional 49 shares during the period. Kingsview Wealth Management LLC boosted its holdings in shares of Workday by 1.1% in the second quarter. Kingsview Wealth Management LLC now owns 4,544 shares of the software maker’s stock valued at $1,091,000 after purchasing an additional 50 shares during the period. Finally, Mesirow Financial Investment Management Inc. lifted its holdings in shares of Workday by 3.5% in the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,527 shares of the software maker’s stock worth $366,000 after buying an additional 51 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Workday

In other news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total transaction of $1,395,720.00. Following the completion of the sale, the chief financial officer owned 168,468 shares in the company, valued at $39,189,026.16. This trade represents a 3.44% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Michael M. Mcnamara sold 5,393 shares of the firm’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $235.16, for a total value of $1,268,217.88. Following the sale, the director directly owned 24,078 shares of the company’s stock, valued at approximately $5,662,182.48. This trade represents a 18.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 345,798 shares of company stock valued at $78,617,754 in the last three months. Company insiders own 19.31% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $224.49 on Friday. Workday, Inc. has a 1-year low of $205.33 and a 1-year high of $283.68. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83. The stock’s 50 day simple moving average is $229.02 and its 200-day simple moving average is $232.77. The company has a market cap of $59.04 billion, a PE ratio of 94.32, a price-to-earnings-growth ratio of 2.55 and a beta of 1.15.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.89 earnings per share. As a group, equities research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of recent research reports. Canaccord Genuity Group dropped their price objective on shares of Workday from $330.00 to $275.00 and set a “buy” rating on the stock in a research note on Friday, August 22nd. BMO Capital Markets dropped their price target on Workday from $314.00 to $285.00 and set an “outperform” rating on the stock in a research note on Friday, August 22nd. Macquarie restated a “buy” rating on shares of Workday in a research note on Wednesday, November 26th. Sanford C. Bernstein reduced their price objective on Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a research note on Wednesday, November 26th. Finally, JPMorgan Chase & Co. decreased their target price on shares of Workday from $290.00 to $270.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and twelve have given a Hold rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $282.13.

Workday 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.