Candriam S.C.A. Lowers Position in Workday, Inc. $WDAY

Candriam S.C.A. reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 6.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 56,782 shares of the software maker’s stock after selling 4,140 shares during the period. Candriam S.C.A.’s holdings in Workday were worth $7,377,000 at the end of the most recent quarter.

Other hedge funds also recently bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in shares of Workday during the second quarter valued at about $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Workday in the 3rd quarter worth approximately $26,000. DT Investment Partners LLC purchased a new position in shares of Workday during the 4th quarter worth approximately $27,000. LRI Investments LLC purchased a new position in shares of Workday during the 4th quarter worth approximately $29,000. Finally, JPL Wealth Management LLC acquired a new stake in Workday in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $138.95 on Monday. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The company’s 50 day moving average is $129.78 and its two-hundred day moving average is $146.63. 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 company has a market cap of $34.32 billion, a PE ratio of 43.42, a P/E/G ratio of 1.49 and a beta of 1.11.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.15. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.23 EPS. Equities analysts predict that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have issued reports on the company. BTIG Research reissued a “buy” rating and issued a $175.00 target price on shares of Workday in a research report on Monday, May 18th. Needham & Company LLC dropped their price objective on Workday from $300.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. KeyCorp boosted their price objective on Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Workday in a report on Wednesday, June 17th. Finally, DA Davidson set a $135.00 target price on Workday in a research report on Tuesday, May 26th. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $184.00.

Insiders Place Their Bets

In other Workday news, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction dated Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the sale, the insider directly owned 239,469 shares of the company’s stock, valued at $32,304,368.10. The trade was a 2.19% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. 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, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the transaction, the chief financial officer directly owned 288,460 shares of the company’s stock, valued at approximately $41,451,702. This represents a 2.04% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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. Insiders have sold 766,602 shares of company stock valued at $99,108,423 in the last three months. Corporate insiders own 18.64% of the company’s stock.

Workday Profile

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.