Prospera Financial Services Inc Sells 6,223 Shares of Workday, Inc. $WDAY

Prospera Financial Services Inc lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 50.9% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 5,998 shares of the software maker’s stock after selling 6,223 shares during the period. Prospera Financial Services Inc’s holdings in Workday were worth $1,444,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. increased its holdings in Workday by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock valued at $5,067,404,000 after buying an additional 515,529 shares during the period. State Street Corp lifted its holdings in shares of Workday by 3.3% during the 2nd quarter. State Street Corp now owns 9,600,516 shares of the software maker’s stock worth $2,304,124,000 after acquiring an additional 303,713 shares during the period. Geode Capital Management LLC boosted its position in shares of Workday by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock worth $1,183,112,000 after acquiring an additional 140,042 shares in the last quarter. Parnassus Investments LLC increased its stake in Workday by 13.1% in the third quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker’s stock valued at $774,478,000 after acquiring an additional 371,561 shares during the last quarter. Finally, Invesco Ltd. increased its stake in Workday by 10.4% in the second quarter. Invesco Ltd. now owns 2,187,137 shares of the software maker’s stock valued at $524,913,000 after acquiring an additional 205,403 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Up 0.3%

Shares of NASDAQ WDAY opened at $144.42 on Friday. The company has a 50 day simple moving average of $196.02 and a 200 day simple moving average of $218.07. 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, Inc. has a 1 year low of $140.59 and a 1 year high of $281.00. The firm has a market cap of $37.98 billion, a PE ratio of 60.68, a price-to-earnings-growth ratio of 1.23 and a beta of 1.13.

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. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a net margin of 6.95% and a return on equity of 10.50%. The company’s revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the company posted $1.89 EPS. On average, research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 82,884 shares of Workday stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $209.75, for a total value of $17,384,919.00. Following the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at $22,034,027.75. The trade was a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Robert Enslin sold 22,185 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $210.17, for a total value of $4,662,621.45. Following the completion of the sale, the insider owned 106,330 shares in the company, valued at $22,347,376.10. The trade was a 17.26% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 370,321 shares of company stock worth $78,866,401 over the last 90 days. Company insiders own 19.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WDAY. Morgan Stanley raised their target price on Workday from $255.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, November 26th. Loop Capital set a $280.00 price objective on Workday in a research report on Wednesday, December 10th. Raymond James Financial reaffirmed a “market perform” rating on shares of Workday in a research note on Monday. Barclays lowered their target price on Workday from $280.00 to $275.00 and set an “overweight” rating for the company in a research note on Monday, January 12th. Finally, Royal Bank Of Canada dropped their target price on shares of Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a report on Monday, January 5th. One analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and thirteen have issued a Hold rating to the company’s stock. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $269.06.

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.