Workday, Inc. (NASDAQ:WDAY) Shares Sold by Kayne Anderson Rudnick Investment Management LLC

Kayne Anderson Rudnick Investment Management LLC reduced its holdings in Workday, Inc. (NASDAQ:WDAY) by 2.8% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 173,342 shares of the software maker’s stock after selling 4,979 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.07% of Workday worth $44,728,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in the business. Simplicity Wealth LLC boosted its holdings in shares of Workday by 3.0% in the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $330,000 after purchasing an additional 37 shares during the last quarter. Marcum Wealth LLC raised its stake in shares of Workday by 4.4% during the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after purchasing an additional 41 shares during the period. Custom Index Systems LLC increased its stake in Workday by 3.0% during the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after buying an additional 41 shares during the period. AllSquare Wealth Management LLC lifted its stake in shares of Workday by 19.4% in the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock worth $65,000 after acquiring an additional 41 shares in the last quarter. Finally, CreativeOne Wealth LLC raised its position in shares of Workday by 1.5% in the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker’s stock valued at $745,000 after purchasing an additional 43 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WDAY. Piper Sandler upped their target price on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. DA Davidson reduced their price target on shares of Workday from $270.00 to $230.00 and set a “neutral” rating for the company in a report on Monday, April 14th. Morgan Stanley decreased their price objective on Workday from $275.00 to $250.00 and set an “equal weight” rating for the company in a report on Wednesday, April 16th. UBS Group raised their target price on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Finally, Stifel Nicolaus boosted their price objective on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $296.25.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $221.02 on Monday. The company has a market capitalization of $58.79 billion, a P/E ratio of 36.65, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The business’s 50-day moving average price is $244.00 and its two-hundred day moving average price is $252.36.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In other news, major shareholder David A. Duffield sold 81,275 shares of the company’s stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $22,111,395.96. This represents a 44.11 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the firm’s stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the sale, the chief accounting officer now owns 34,385 shares of the company’s stock, valued at $7,789,921.75. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock valued at $77,976,126 over the last 90 days. 20.00% of the stock is currently owned by company insiders.

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.