Empowered Funds LLC Raises Holdings in Workday, Inc. (NASDAQ:WDAY)

Empowered Funds LLC grew its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 35.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 9,936 shares of the software maker's stock after buying an additional 2,587 shares during the period. Empowered Funds LLC's holdings in Workday were worth $2,564,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in WDAY. Swedbank AB lifted its position in shares of Workday by 2.1% during the 3rd quarter. Swedbank AB now owns 82,847 shares of the software maker's stock valued at $20,249,000 after buying an additional 1,668 shares in the last quarter. Opal Wealth Advisors LLC lifted its position in shares of Workday by 5.2% during the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker's stock valued at $231,000 after buying an additional 47 shares in the last quarter. Beech Hill Advisors Inc. purchased a new position in shares of Workday during the 3rd quarter valued at about $1,419,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Workday by 5.3% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 48,493 shares of the software maker's stock valued at $11,852,000 after purchasing an additional 2,453 shares during the period. Finally, Claro Advisors LLC bought a new stake in Workday during the 3rd quarter valued at approximately $255,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on Workday from $300.00 to $330.00 and gave the company an "overweight" rating in a research note on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised Workday from a "hold" rating to a "buy" rating and lifted their target price for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Mizuho lifted their target price on Workday from $280.00 to $320.00 and gave the company an "outperform" rating in a research note on Friday, December 13th. Oppenheimer reissued an "outperform" rating and set a $300.00 target price on shares of Workday in a research note on Tuesday, December 3rd. Finally, Citigroup decreased their target price on Workday from $287.00 to $270.00 and set a "neutral" rating on the stock in a research note on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company's stock. According to data from MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and an average target price of $292.43.

Insider Activity at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the business's stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares of the company's stock, valued at $3,546,931.92. The trade was a 30.91 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 70,090 shares of the business's stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total value of $17,840,007.70. Following the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at $26,215,826.41. The trade was a 40.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is currently owned by company insiders.

Workday Price Performance

Shares of NASDAQ:WDAY traded down $2.08 during trading on Monday, reaching $258.05. The stock had a trading volume of 1,382,014 shares, compared to its average volume of 2,045,437. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The business has a fifty day moving average price of $262.13 and a 200-day moving average price of $251.80. The stock has a market cap of $68.64 billion, a PE ratio of 42.79, a PEG ratio of 3.78 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the business posted $0.47 earnings per share. The firm's revenue was up 15.8% compared to the same quarter last year. On average, equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.