Workday, Inc. (NASDAQ:WDAY) Stake Cut by Ensign Peak Advisors Inc

Ensign Peak Advisors Inc cut its position in shares of Workday, Inc. (NASDAQ:WDAY) by 37.8% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 293,851 shares of the software maker’s stock after selling 178,414 shares during the quarter. Ensign Peak Advisors Inc’s holdings in Workday were worth $65,693,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. William Blair Investment Management LLC lifted its stake in Workday by 17.6% during the first quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock worth $8,849,000 after purchasing an additional 4,865 shares during the last quarter. ORG Partners LLC increased its position in Workday by 3,717.9% in the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock worth $721,000 after buying an additional 3,123 shares during the period. Bornite Capital Management LP acquired a new stake in Workday in the fourth quarter worth $34,508,000. Nordea Investment Management AB increased its position in Workday by 3.0% in the first quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after buying an additional 13,502 shares during the period. Finally, Bain Capital Public Equity LP increased its position in Workday by 32.5% in the fourth quarter. Bain Capital Public Equity LP now owns 22,471 shares of the software maker’s stock worth $6,203,000 after buying an additional 5,513 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on WDAY. DA Davidson increased their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Stifel Nicolaus increased their target price on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley lowered their price target on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. Loop Capital raised their price target on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, JMP Securities reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $286.48.

Insiders Place Their Bets

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.29, for a total transaction of $812,365.09. Following the completion of the sale, the insider now directly owns 196,344 shares in the company, valued at approximately $51,106,379.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the sale, the insider now owns 196,344 shares of the company’s stock, valued at $51,106,379.76. The disclosure for this sale can be found here. In the last ninety days, insiders sold 467,402 shares of company stock worth $109,864,184. 20.00% of the stock is currently owned by company insiders.

Workday Trading Up 0.3 %

NASDAQ:WDAY 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. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The firm has a market capitalization of $65.80 billion, a price-to-earnings ratio of 44.74, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35. The stock has a fifty day simple moving average of $237.48 and a 200 day simple moving average of $242.12.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the company posted $0.40 EPS. Workday’s revenue for the quarter was up 16.5% on a year-over-year basis. Sell-side analysts forecast that Workday, Inc. will post 2.39 earnings per share for the current year.

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.