Workday, Inc. $WDAY Stock Holdings Lowered by OFI Invest Asset Management

OFI Invest Asset Management lessened its position in Workday, Inc. (NASDAQ:WDAY) by 91.1% during the third quarter, Holdings Channel reports. The fund owned 548 shares of the software maker’s stock after selling 5,594 shares during the quarter. OFI Invest Asset Management’s holdings in Workday were worth $132,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently bought and sold shares of the company. AlphaQuest LLC raised its stake in Workday by 636.7% during the 2nd quarter. AlphaQuest LLC now owns 1,886 shares of the software maker’s stock valued at $453,000 after acquiring an additional 1,630 shares in the last quarter. Norges Bank bought a new position in shares of Workday in the second quarter worth $442,702,000. Chicago Capital LLC increased its holdings in shares of Workday by 2.2% during the second quarter. Chicago Capital LLC now owns 175,802 shares of the software maker’s stock valued at $42,193,000 after purchasing an additional 3,824 shares during the period. Stance Capital LLC bought a new stake in shares of Workday during the second quarter valued at about $1,276,000. Finally, State of Alaska Department of Revenue lifted its holdings in Workday by 21.1% in the second quarter. State of Alaska Department of Revenue now owns 30,370 shares of the software maker’s stock worth $7,288,000 after purchasing an additional 5,300 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities analysts have commented on the stock. Stifel Nicolaus lowered their target price on shares of Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a research note on Wednesday, November 26th. UBS Group set a $260.00 price objective on shares of Workday in a research note on Wednesday, November 26th. Macquarie reissued a “buy” rating on shares of Workday in a report on Wednesday, November 26th. Evercore ISI increased their price target on Workday from $275.00 to $300.00 and gave the company an “outperform” rating in a research note on Wednesday, September 17th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-six have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $282.22.

Insider Activity

In other news, Director Michael M. Mcnamara sold 5,393 shares of Workday stock in a transaction on Friday, October 10th. The stock was sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the transaction, the director owned 24,078 shares in the company, valued at approximately $5,662,182.48. The trade was a 18.30% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 82,025 shares of the company’s stock in a transaction on Tuesday, December 2nd. The shares were sold at an average price of $212.19, for a total value of $17,404,884.75. Following the transaction, the insider directly owned 105,049 shares in the company, valued at $22,290,347.31. The trade was a 43.85% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 266,937 shares of company stock worth $59,316,578. 20.00% of the stock is owned by corporate insiders.

Workday Price Performance

WDAY stock opened at $215.44 on Wednesday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. Workday, Inc. has a one year low of $205.33 and a one year high of $283.68. The firm has a market capitalization of $56.66 billion, a PE ratio of 90.52, a P/E/G ratio of 2.46 and a beta of 1.15. The firm has a 50-day moving average of $226.26 and a two-hundred day moving average of $231.10.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period last year, the firm posted $1.89 earnings per share. The firm’s quarterly revenue was up 12.6% compared to the same quarter last year. On average, analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

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.