Workday, Inc. $WDAY Stock Holdings Lowered by Royal Bank of Canada

Royal Bank of Canada trimmed its stake in Workday, Inc. (NASDAQ:WDAY) by 52.0% during the first quarter, HoldingsChannel.com reports. The fund owned 370,061 shares of the software maker’s stock after selling 400,780 shares during the period. Royal Bank of Canada’s holdings in Workday were worth $48,079,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also modified their holdings of WDAY. Rakuten Securities Inc. purchased a new stake in shares of Workday in the second quarter worth approximately $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Workday in the third quarter valued at approximately $26,000. DT Investment Partners LLC acquired a new stake in shares of Workday in the fourth quarter valued at about $27,000. LRI Investments LLC acquired a new stake in shares of Workday in the fourth quarter worth $29,000. Finally, JPL Wealth Management LLC acquired a new stake in Workday in the 3rd quarter worth $30,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of analyst reports. Wells Fargo & Company upped their target price on shares of Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. UBS Group raised their target price on Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. Monness Crespi & Hardt upgraded shares of Workday from a “neutral” rating to a “buy” rating and set a $150.00 price objective for the company in a research report on Thursday, June 25th. The Goldman Sachs Group cut their target price on shares of Workday from $206.00 to $151.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. Finally, Barclays raised Workday from an “overweight” rating to a “buy” rating in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $179.80.

Insider Activity

In other news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the completion of the transaction, the chief financial officer directly owned 288,460 shares in the company, valued at $41,451,702. This represents a 2.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of the firm’s stock in a transaction dated Thursday, July 9th. The shares were sold at an average price of $136.74, for a total value of $14,699,550.00. Following the completion of the transaction, the insider owned 105,049 shares of the company’s stock, valued at $14,364,400.26. The trade was a 50.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 875,020 shares of company stock worth $113,938,503. 18.64% of the stock is currently owned by company insiders.

Workday Stock Performance

WDAY opened at $160.34 on Monday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $39.60 billion, a P/E ratio of 50.11, a P/E/G ratio of 1.71 and a beta of 1.08. The firm’s fifty day simple moving average is $136.31 and its 200 day simple moving average is $139.59. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the company earned $2.23 earnings per share. Workday’s quarterly revenue was up 13.5% on a year-over-year basis. As a group, research analysts anticipate that Workday, Inc. will post 5.38 EPS for the current fiscal year.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.