Workday, Inc. $WDAY Shares Sold by Stevens Capital Management LP

Stevens Capital Management LP reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 62.9% in the 2nd quarter, HoldingsChannel reports. The fund owned 2,446 shares of the software maker’s stock after selling 4,147 shares during the quarter. Stevens Capital Management LP’s holdings in Workday were worth $587,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Nuveen LLC acquired a new position in Workday in the first quarter valued at approximately $456,341,000. T. Rowe Price Investment Management Inc. lifted its position in shares of Workday by 47.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock worth $879,147,000 after buying an additional 1,211,659 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its holdings in shares of Workday by 35.6% in the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker’s stock valued at $812,475,000 after buying an additional 913,613 shares in the last quarter. Generation Investment Management LLP boosted its holdings in shares of Workday by 36.6% in the 1st quarter. Generation Investment Management LLP now owns 2,903,767 shares of the software maker’s stock valued at $678,117,000 after buying an additional 778,301 shares in the last quarter. Finally, Parnassus Investments LLC grew its position in shares of Workday by 22.4% in the 1st quarter. Parnassus Investments LLC now owns 2,996,429 shares of the software maker’s stock valued at $699,756,000 after buying an additional 548,694 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Up 3.8%

WDAY stock opened at $225.14 on Friday. Workday, Inc. has a 12 month low of $205.33 and a 12 month high of $294.00. The firm has a market capitalization of $60.11 billion, a PE ratio of 104.23, a P/E/G ratio of 2.70 and a beta of 1.11. The company’s 50 day simple moving average is $233.97 and its 200-day simple moving average is $237.18. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.10 and a quick ratio of 2.10.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 21st. The software maker reported $2.21 EPS for the quarter, beating analysts’ consensus estimates of $2.09 by $0.12. The business had revenue of $2.35 billion for the quarter, compared to analyst estimates of $2.34 billion. Workday had a return on equity of 9.74% and a net margin of 6.51%.The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.75 earnings per share. Equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In related news, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total transaction of $1,395,720.00. Following the completion of the transaction, the chief financial officer owned 168,468 shares of the company’s stock, valued at approximately $39,189,026.16. This represents a 3.44% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Michael M. Mcnamara sold 5,393 shares of the company’s stock in a transaction on Friday, October 10th. The stock was sold at an average price of $235.16, for a total value of $1,268,217.88. Following the sale, the director owned 24,078 shares of the company’s stock, valued at approximately $5,662,182.48. The trade was a 18.30% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 264,933 shares of company stock valued at $61,475,760. 19.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on WDAY. JPMorgan Chase & Co. reduced their price target on shares of Workday from $295.00 to $290.00 and set an “overweight” rating for the company in a research report on Friday, August 22nd. UBS Group set a $304.00 target price on Workday in a research report on Friday, August 22nd. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Wednesday, September 17th. Deutsche Bank Aktiengesellschaft decreased their price objective on Workday from $330.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, August 22nd. Finally, Piper Sandler upgraded shares of Workday from an “underweight” rating to a “neutral” rating and boosted their price target for the stock from $220.00 to $235.00 in a research note on Wednesday, September 17th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have given a Buy rating and eleven have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $287.86.

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.