ProShare Advisors LLC Increases Position in Workday, Inc. (NASDAQ:WDAY)

ProShare Advisors LLC increased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 25.3% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 205,768 shares of the software maker’s stock after buying an additional 41,516 shares during the quarter. ProShare Advisors LLC owned about 0.08% of Workday worth $56,123,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WDAY. Beacon Capital Management LLC increased its holdings in shares of Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after purchasing an additional 70 shares during the period. Exchange Traded Concepts LLC increased its stake in Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after buying an additional 105 shares during the period. Sound Income Strategies LLC raised its position in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the last quarter. CVA Family Office LLC acquired a new stake in shares of Workday in the 4th quarter worth $33,000. Finally, Friedenthal Financial purchased a new stake in shares of Workday in the fourth quarter valued at about $43,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Ratings Changes

Several research firms recently issued reports on WDAY. BMO Capital Markets cut their price target on shares of Workday from $338.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Oppenheimer cut their target price on Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Royal Bank of Canada decreased their price target on Workday from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Jefferies Financial Group cut their price objective on Workday from $350.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, DA Davidson reduced their target price on Workday from $300.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. 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 MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $281.44.

Insiders Place Their Bets

In other news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total value of $669,267.24. Following the completion of the sale, the insider now owns 204,066 shares of the company’s stock, valued at $43,759,913.04. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, major shareholder David A. Duffield sold 82,762 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total value of $669,267.24. Following the completion of the transaction, the insider now directly owns 204,066 shares in the company, valued at $43,759,913.04. The disclosure for this sale can be found here. Insiders have sold a total of 524,672 shares of company stock valued at $115,938,834 in the last quarter. 20.00% of the stock is currently owned by company insiders.

Workday Trading Down 1.5 %

NASDAQ:WDAY traded down $3.51 on Wednesday, reaching $232.12. The stock had a trading volume of 1,471,363 shares, compared to its average volume of 2,190,939. Workday, Inc. has a 12-month low of $202.01 and a 12-month high of $311.28. The company has a market cap of $61.51 billion, a price-to-earnings ratio of 42.53, a P/E/G ratio of 5.86 and a beta of 1.35. The firm’s fifty day moving average is $226.77 and its two-hundred day moving average is $259.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the prior year, the firm posted $0.16 earnings per share. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. Equities analysts expect that Workday, Inc. will post 2.12 EPS for the current fiscal year.

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.