Lyell Wealth Management LP Sells 9,963 Shares of Workday, Inc. $WDAY

Lyell Wealth Management LP reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 12.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 71,598 shares of the software maker’s stock after selling 9,963 shares during the quarter. Lyell Wealth Management LP’s holdings in Workday were worth $15,378,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. First Eagle Investment Management LLC bought a new position in shares of Workday during the 3rd quarter worth approximately $556,252,000. Norges Bank bought a new position in shares of Workday during the 4th quarter worth approximately $448,804,000. Robeco Institutional Asset Management B.V. grew its stake in shares of Workday by 18.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock worth $122,804,000 after acquiring an additional 88,384 shares in the last quarter. Morningstar Investment Management LLC grew its stake in shares of Workday by 127.2% during the 4th quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after acquiring an additional 15,138 shares in the last quarter. Finally, Sienna Gestion bought a new position in shares of Workday during the 3rd quarter worth approximately $7,948,000. 89.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction on Tuesday, April 7th. The stock was sold at an average price of $128.22, for a total transaction of $769,320.00. Following the completion of the sale, the chief financial officer owned 217,930 shares of the company’s stock, valued at $27,942,984.60. This trade represents a 2.68% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 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, insider Robert Enslin sold 5,373 shares of the firm’s stock in a transaction on Monday, April 6th. The shares were sold at an average price of $129.41, for a total value of $695,319.93. Following the sale, the insider directly owned 165,414 shares of the company’s stock, valued at $21,406,225.74. This represents a 3.15% decrease in their position. 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. Over the last ninety days, insiders have sold 774,814 shares of company stock worth $102,709,316. 18.64% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently weighed in on WDAY shares. The Goldman Sachs Group decreased their price target on shares of Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a research note on Tuesday, May 26th. Wells Fargo & Company raised their price target on shares of Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Jefferies Financial Group raised their price target on shares of Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, May 22nd. Bank of America began coverage on shares of Workday in a research note on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 target price for the company. Finally, Rosenblatt Securities decreased their target price on shares of Workday from $180.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. One analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $185.03.

Workday Price Performance

NASDAQ:WDAY opened at $130.53 on Friday. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $253.54. 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 firm has a fifty day simple moving average of $128.07 and a 200 day simple moving average of $160.22. The stock has a market capitalization of $32.24 billion, a PE ratio of 40.79, a P/E/G ratio of 1.46 and a beta of 1.09.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period last year, the business earned $2.23 earnings per share. The firm’s revenue was up 13.5% on a year-over-year basis. On average, research analysts expect that Workday, Inc. will post 5.4 EPS for the current fiscal 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.