Pacer Advisors Inc. Reduces Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Pacer Advisors Inc. lowered its holdings in Workday, Inc. (NASDAQ:WDAY) by 10.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 13,366 shares of the software maker’s stock after selling 1,632 shares during the quarter. Pacer Advisors Inc.’s holdings in Workday were worth $2,988,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Crewe Advisors LLC purchased a new position in shares of Workday during the 1st quarter valued at about $27,000. Sound Income Strategies LLC grew its holdings in Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after acquiring an additional 49 shares during the period. SouthState Corp raised its position in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after acquiring an additional 129 shares in the last quarter. Asset Dedication LLC acquired a new position in Workday in the second quarter valued at approximately $36,000. Finally, PSI Advisors LLC purchased a new stake in Workday in the 2nd quarter worth approximately $38,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, September 23rd. The stock was sold at an average price of $245.36, for a total transaction of $13,740,160.00. Following the completion of the transaction, the insider now directly owns 449,000 shares in the company, valued at approximately $110,166,640. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, September 23rd. The shares were sold at an average price of $245.36, for a total value of $13,740,160.00. Following the transaction, the insider now directly owns 449,000 shares in the company, valued at approximately $110,166,640. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction that occurred on Tuesday, September 3rd. The shares were 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 owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The disclosure for this sale can be found here. Insiders have sold 523,402 shares of company stock worth $123,604,344 over the last quarter. 20.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent research reports. KeyCorp lifted their target price on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Guggenheim reiterated a “sell” rating and issued a $190.00 price objective on shares of Workday in a research report on Tuesday, June 25th. Citigroup dropped their target price on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday. Canaccord Genuity Group reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Friday, September 13th. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and an average price target of $287.04.

Workday Trading Down 1.4 %

Shares of WDAY opened at $243.37 on Thursday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a market capitalization of $64.49 billion, a P/E ratio of 43.85, a P/E/G ratio of 4.87 and a beta of 1.35. The firm has a 50-day moving average price of $237.96 and a 200 day moving average price of $241.69. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

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

Workday Company Profile

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.