Workday, Inc. $WDAY Shares Sold by Park Avenue Securities LLC

Park Avenue Securities LLC trimmed its holdings in Workday, Inc. (NASDAQ:WDAY) by 56.3% in the third quarter, according to its most recent disclosure with the SEC. The fund owned 4,093 shares of the software maker’s stock after selling 5,268 shares during the period. Park Avenue Securities LLC’s holdings in Workday were worth $985,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in WDAY. AlphaQuest LLC raised its stake in shares of Workday by 636.7% during the second quarter. AlphaQuest LLC now owns 1,886 shares of the software maker’s stock worth $453,000 after purchasing an additional 1,630 shares during the last quarter. Norges Bank acquired a new position in Workday in the 2nd quarter valued at $442,702,000. Chicago Capital LLC raised its position in Workday by 2.2% during the 2nd quarter. Chicago Capital LLC now owns 175,802 shares of the software maker’s stock worth $42,193,000 after buying an additional 3,824 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in Workday by 16.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 483,382 shares of the software maker’s stock worth $116,365,000 after buying an additional 67,125 shares during the last quarter. Finally, Stance Capital LLC acquired a new stake in shares of Workday in the 2nd quarter worth $1,276,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 82,884 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $209.75, for a total value of $17,384,919.00. Following the completion of the transaction, the insider owned 105,049 shares of the company’s stock, valued at approximately $22,034,027.75. The trade was a 44.10% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the sale, the chief financial officer directly owned 159,158 shares in the company, valued at $33,224,232.50. This represents a 3.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last 90 days, insiders sold 370,321 shares of company stock valued at $78,866,401. Company insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WDAY. JMP Securities reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research note on Wednesday, September 17th. Cowen reiterated a “buy” rating on shares of Workday in a research report on Wednesday, November 26th. Wells Fargo & Company cut their target price on Workday from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Stifel Nicolaus decreased their price target on Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a research note on Wednesday, November 26th. Finally, TD Cowen dropped their price objective on Workday from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and thirteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $278.09.

Workday Stock Performance

WDAY opened at $199.55 on Wednesday. Workday, Inc. has a 1-year low of $199.00 and a 1-year high of $283.68. The stock has a market cap of $52.48 billion, a P/E ratio of 83.84, a P/E/G ratio of 2.34 and a beta of 1.14. The stock’s 50 day simple moving average is $218.58 and its 200 day simple moving average is $227.88. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating 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 company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the firm earned $1.89 earnings per share. The company’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 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.