Versor Investments LP Sells 3,470 Shares of Workday, Inc. $WDAY

Versor Investments LP reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 69.8% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,500 shares of the software maker’s stock after selling 3,470 shares during the period. Versor Investments LP’s holdings in Workday were worth $361,000 at the end of the most recent reporting period.

Several other large investors have also bought and sold shares of the company. Rakuten Securities Inc. bought a new position in shares of Workday in the 2nd quarter worth approximately $25,000. Berbice Capital Management LLC grew its stake in Workday by 136.4% in the second quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after purchasing an additional 75 shares during the period. Golden State Wealth Management LLC raised its holdings in Workday by 2,216.7% in the second quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock worth $33,000 after purchasing an additional 133 shares in the last quarter. Root Financial Partners LLC purchased a new position in Workday during the third quarter valued at $40,000. Finally, Twin Peaks Wealth Advisors LLC bought a new stake in shares of Workday during the 2nd quarter valued at $41,000. 89.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Stifel Nicolaus set a $175.00 price target on shares of Workday in a research report on Monday. Wall Street Zen upgraded shares of Workday from a “buy” rating to a “strong-buy” rating in a report on Saturday. The Goldman Sachs Group started coverage on Workday in a research report on Monday, January 12th. They issued a “neutral” rating and a $238.00 price target on the stock. Piper Sandler reduced their price objective on Workday from $235.00 to $200.00 and set a “neutral” rating for the company in a research report on Monday, February 2nd. Finally, Guggenheim reiterated a “buy” rating and set a $285.00 price objective on shares of Workday in a research note on Wednesday, November 26th. One research analyst has rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $269.06.

Workday Stock Performance

WDAY stock opened at $144.42 on Friday. The stock’s 50 day simple moving average is $196.02 and its 200 day simple moving average is $218.07. 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 12-month low of $140.59 and a 12-month high of $281.00. The stock has a market capitalization 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 posted its quarterly 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. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. As a group, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total value of $1,252,500.00. Following the sale, the chief financial officer owned 159,158 shares in the company, valued at approximately $33,224,232.50. This trade represents a 3.63% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction that occurred on Monday, January 5th. The stock was sold at an average price of $210.00, for a total transaction of $656,250.00. Following the completion of the sale, the chief executive officer directly owned 17,097 shares of the company’s stock, valued at approximately $3,590,370. This trade represents a 15.45% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 370,321 shares of company stock worth $78,866,401 in the last quarter. Insiders own 19.31% of the company’s stock.

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.