First Hawaiian Bank Buys New Position in Workday Inc (WDAY)

First Hawaiian Bank bought a new stake in shares of Workday Inc (NASDAQ:WDAY) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 9,510 shares of the software maker’s stock, valued at approximately $1,388,000.

A number of other large investors have also added to or reduced their stakes in WDAY. MUFG Securities EMEA plc bought a new stake in shares of Workday in the 2nd quarter valued at approximately $448,000. First Trust Advisors LP grew its stake in shares of Workday by 43.3% in the 2nd quarter. First Trust Advisors LP now owns 989,908 shares of the software maker’s stock valued at $119,898,000 after buying an additional 299,251 shares in the last quarter. Los Angeles Capital Management & Equity Research Inc. grew its stake in shares of Workday by 1,077.7% in the 2nd quarter. Los Angeles Capital Management & Equity Research Inc. now owns 286,841 shares of the software maker’s stock valued at $34,742,000 after buying an additional 262,485 shares in the last quarter. Ardevora Asset Management LLP grew its stake in shares of Workday by 254.7% in the 2nd quarter. Ardevora Asset Management LLP now owns 278,326 shares of the software maker’s stock valued at $33,711,000 after buying an additional 199,856 shares in the last quarter. Finally, Scout Investments Inc. bought a new stake in shares of Workday in the 3rd quarter valued at approximately $21,033,000. 67.50% of the stock is currently owned by institutional investors.

In other news, CEO Aneel Bhusri sold 75,000 shares of the company’s stock in a transaction that occurred on Thursday, September 6th. The stock was sold at an average price of $144.66, for a total transaction of $10,849,500.00. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO James Bozzini sold 4,981 shares of the company’s stock in a transaction that occurred on Monday, October 15th. The stock was sold at an average price of $127.23, for a total value of $633,732.63. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 503,782 shares of company stock valued at $68,244,014. Corporate insiders own 33.59% of the company’s stock.

Several equities research analysts recently commented on the company. JMP Securities lowered their price target on Workday from $175.00 to $152.95 and set an “outperform” rating for the company in a research note on Wednesday, September 5th. They noted that the move was a valuation call. Deutsche Bank boosted their price target on Workday from $115.00 to $140.00 and gave the company a “hold” rating in a research note on Wednesday, September 5th. Jefferies Financial Group boosted their price target on Workday to $141.00 and gave the company a “hold” rating in a research note on Wednesday, September 5th. Piper Jaffray Companies reissued an “overweight” rating and issued a $160.00 price target (up previously from $150.00) on shares of Workday in a research note on Wednesday, August 15th. Finally, Guggenheim assumed coverage on Workday in a research note on Monday, August 20th. They issued a “buy” rating and a $175.00 price target for the company. One investment analyst has rated the stock with a sell rating, thirteen have assigned a hold rating, nineteen have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Workday presently has a consensus rating of “Buy” and a consensus target price of $147.14.

WDAY opened at $130.43 on Friday. Workday Inc has a twelve month low of $95.35 and a twelve month high of $157.12. The company has a debt-to-equity ratio of 0.54, a current ratio of 1.89 and a quick ratio of 1.89. The company has a market capitalization of $31.68 billion, a P/E ratio of -102.70 and a beta of 2.01.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, September 4th. The software maker reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.26 by $0.05. Workday had a negative return on equity of 13.36% and a negative net margin of 13.81%. The firm had revenue of $671.70 million during the quarter, compared to analyst estimates of $663.38 million. During the same period in the previous year, the company earned $0.24 EPS. The company’s revenue for the quarter was up 27.9% on a year-over-year basis. Equities analysts expect that Workday Inc will post -1.11 earnings per share for the current year.

Workday Company Profile

Workday, Inc provides enterprise cloud applications for finance and human resources worldwide. It provides applications for customers to manage critical business functions to optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, employee expense and revenue management, projects, procurement, inventory, and grants management.

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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