Rivulet Capital LLC Sells 324,911 Shares of Workday, Inc. $WDAY

Rivulet Capital LLC decreased its stake in Workday, Inc. (NASDAQ:WDAY) by 89.5% during the 4th quarter, Holdings Channel.com reports. The institutional investor owned 38,250 shares of the software maker’s stock after selling 324,911 shares during the period. Workday accounts for approximately 9.0% of Rivulet Capital LLC’s holdings, making the stock its 3rd largest position. Rivulet Capital LLC’s holdings in Workday were worth $8,215,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Finivi Inc. grew its holdings in shares of Workday by 3.3% during the third quarter. Finivi Inc. now owns 1,516 shares of the software maker’s stock worth $365,000 after purchasing an additional 48 shares during the last quarter. Strategic Investment Advisors MI raised its holdings in shares of Workday by 1.6% in the second quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker’s stock valued at $777,000 after buying an additional 50 shares during the last quarter. Legacy Financial Advisors Inc. raised its holdings in shares of Workday by 5.1% in the third quarter. Legacy Financial Advisors Inc. now owns 1,113 shares of the software maker’s stock valued at $268,000 after buying an additional 54 shares during the last quarter. Sagespring Wealth Partners LLC raised its holdings in shares of Workday by 3.0% in the fourth quarter. Sagespring Wealth Partners LLC now owns 2,052 shares of the software maker’s stock valued at $441,000 after buying an additional 59 shares during the last quarter. Finally, CVA Family Office LLC raised its holdings in shares of Workday by 35.3% in the fourth quarter. CVA Family Office LLC now owns 249 shares of the software maker’s stock valued at $53,000 after buying an additional 65 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft cut their price target on Workday from $265.00 to $190.00 and set a “buy” rating for the company in a report on Wednesday, February 18th. Sanford C. Bernstein reaffirmed an “outperform” rating and issued a $216.00 price target on shares of Workday in a report on Friday, May 22nd. Summit Redstone set a $275.00 price target on Workday in a report on Wednesday, May 27th. Weiss Ratings downgraded Workday from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 20th. Finally, Bank of America began coverage on Workday in a research report on Wednesday, May 27th. They set a “neutral” rating and a $140.00 target price for the company. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $185.03.

Workday Stock Down 0.9%

WDAY stock opened at $129.60 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The stock has a market capitalization of $32.01 billion, a P/E ratio of 40.50, a P/E/G ratio of 1.39 and a beta of 1.09. The business has a 50-day moving average of $128.05 and a 200-day moving average of $158.82. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85.

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

Insider Transactions at Workday

In other Workday news, CAO Mark S. Garfield sold 1,585 shares of the company’s stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $113.05, for a total value of $179,184.25. Following the sale, the chief accounting officer owned 31,467 shares in the company, valued at $3,557,344.35. This represents a 4.80% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 9,356 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total value of $1,201,216.84. Following the transaction, the insider owned 165,074 shares in the company, valued at approximately $21,193,850.86. This trade represents a 5.36% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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 882,314 shares of company stock valued at $116,525,216. Company insiders own 18.64% of the company’s stock.

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.