CMH Wealth Management LLC Acquires New Position in Workday, Inc. $WDAY

CMH Wealth Management LLC bought a new position in Workday, Inc. (NASDAQ:WDAY) in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 18,214 shares of the software maker’s stock, valued at approximately $4,385,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its holdings in shares of Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after acquiring an additional 2,792 shares in the last quarter. Baird Financial Group Inc. increased its position in Workday by 3.3% in the 1st quarter. Baird Financial Group Inc. now owns 9,611 shares of the software maker’s stock worth $2,244,000 after purchasing an additional 303 shares during the last quarter. Federation des caisses Desjardins du Quebec raised its stake in shares of Workday by 48.5% during the 1st quarter. Federation des caisses Desjardins du Quebec now owns 18,741 shares of the software maker’s stock worth $4,377,000 after purchasing an additional 6,121 shares in the last quarter. Adage Capital Partners GP L.L.C. lifted its holdings in shares of Workday by 8.8% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 170,300 shares of the software maker’s stock valued at $39,770,000 after buying an additional 13,800 shares during the last quarter. Finally, Amundi grew its stake in shares of Workday by 5.9% in the 1st quarter. Amundi now owns 896,978 shares of the software maker’s stock valued at $204,807,000 after buying an additional 49,605 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Down 1.0%

Workday stock opened at $214.78 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $283.68. The firm has a fifty day moving average price of $223.24 and a two-hundred day moving average price of $229.74. The firm has a market cap of $56.49 billion, a price-to-earnings ratio of 90.24, a P/E/G ratio of 2.42 and a beta of 1.14.

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

Wall Street Analyst Weigh In

WDAY has been the topic of several recent research reports. Evercore ISI raised their price objective on shares of Workday from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Oppenheimer restated an “outperform” rating on shares of Workday in a report on Wednesday, November 26th. Rosenblatt Securities began coverage on shares of Workday in a research note on Tuesday, December 2nd. They issued a “neutral” rating and a $235.00 price objective for the company. Citigroup lowered their target price on shares of Workday from $261.00 to $247.00 and set a “neutral” rating on the stock in a research report on Wednesday, November 26th. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Workday in a research report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.22.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 82,025 shares of the stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $212.19, for a total value of $17,404,884.75. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at $22,290,347.31. This represents a 43.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction on Tuesday, October 7th. The stock was 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 represents a 3.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders sold 340,966 shares of company stock worth $75,095,274. Corporate insiders own 19.31% of the company’s stock.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.