Mather Group LLC. Boosts Position in Workday, Inc. (NASDAQ:WDAY)

Mather Group LLC. increased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 1,692.5% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 4,804 shares of the software maker’s stock after acquiring an additional 4,536 shares during the quarter. Mather Group LLC.’s holdings in Workday were worth $1,074,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently modified their holdings of the company. Norges Bank purchased a new position in shares of Workday in the fourth quarter valued at approximately $1,491,149,000. Vanguard Group Inc. boosted its position in Workday by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock valued at $3,988,549,000 after buying an additional 437,215 shares during the period. Kodai Capital Management LP acquired a new position in shares of Workday in the fourth quarter worth $85,994,000. Sustainable Growth Advisers LP increased its position in shares of Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after acquiring an additional 301,463 shares during the period. Finally, Clearbridge Investments LLC raised its stake in shares of Workday by 12.4% in the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after acquiring an additional 281,207 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY traded up $4.14 during trading on Wednesday, reaching $215.39. The company’s stock had a trading volume of 374,329 shares, compared to its average volume of 2,155,939. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The firm has a market cap of $57.08 billion, a price-to-earnings ratio of 38.06, a P/E/G ratio of 5.42 and a beta of 1.35. The business’s fifty day moving average price is $219.97 and its 200-day moving average price is $253.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results 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 return on equity of 5.78% and a net margin of 19.66%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same quarter in the previous year, the firm posted $0.16 EPS. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. As a group, analysts anticipate that Workday, Inc. will post 2.12 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several research analysts recently commented on WDAY shares. BMO Capital Markets lowered their target price on Workday from $338.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. Oppenheimer cut their target price on shares of Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Royal Bank of Canada decreased their price target on shares of Workday from $310.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. DA Davidson dropped their price objective on shares of Workday from $300.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. Finally, Evercore ISI decreased their price objective on shares of Workday from $350.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. 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 company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $281.44.

Insider Transactions at Workday

In other news, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction on Monday, July 8th. The shares were sold at an average price of $226.67, for a total value of $710,383.78. Following the completion of the sale, the insider now owns 92,014 shares in the company, valued at approximately $20,856,813.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred 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 sale, the insider now directly owns 204,066 shares in the company, valued at $43,759,913.04. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction on Monday, July 8th. The stock was sold at an average price of $226.67, for a total value of $710,383.78. Following the completion of the transaction, the insider now owns 92,014 shares of the company’s stock, valued at approximately $20,856,813.38. The disclosure for this sale can be found here. Insiders sold 524,672 shares of company stock worth $115,938,834 over the last 90 days. 20.00% of the stock is currently owned by insiders.

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.