Renaissance Technologies LLC Sells 68,300 Shares of Workday, Inc. (NASDAQ:WDAY)

Renaissance Technologies LLC lowered its position in shares of Workday, Inc. (NASDAQ:WDAY) by 43.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 87,900 shares of the software maker’s stock after selling 68,300 shares during the period. Renaissance Technologies LLC’s holdings in Workday were worth $19,651,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in the company. Crewe Advisors LLC bought a new stake in shares of Workday in the 1st quarter valued at about $27,000. Sound Income Strategies LLC lifted its stake in shares of Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after acquiring an additional 49 shares during the last quarter. SouthState Corp lifted its stake in shares of Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares during the last quarter. Asset Dedication LLC bought a new stake in shares of Workday in the 2nd quarter valued at about $36,000. Finally, PSI Advisors LLC bought a new stake in shares of Workday in the 2nd quarter valued at about $38,000. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on WDAY shares. The Goldman Sachs Group boosted their target price on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday. Barclays boosted their target price on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Stifel Nicolaus boosted their price target on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Wells Fargo & Company boosted their price target on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Sanford C. Bernstein reduced their price target on Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $286.48.

Workday Stock Performance

Workday stock opened at $248.29 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a market capitalization of $65.80 billion, a P/E ratio of 44.74, a PEG ratio of 5.07 and a beta of 1.35. The stock’s 50 day moving average is $237.48 and its 200 day moving average is $242.30. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 EPS. On average, equities research analysts predict that Workday, Inc. will post 2.39 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $223.80, for a total value of $12,532,800.00. Following the transaction, the insider now directly owns 674,000 shares of the company’s stock, valued at approximately $150,841,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $223.80, for a total value of $12,532,800.00. Following the transaction, the insider now directly owns 674,000 shares of the company’s stock, valued at approximately $150,841,200. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction on Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $23,059,998.33. The disclosure for this sale can be found here. In the last three months, insiders have sold 467,402 shares of company stock valued at $109,864,184. 20.00% of the stock is owned by corporate insiders.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.