Select Equity Group L.P. Sells 1,918 Shares of Workday, Inc. (NASDAQ:WDAY)

Select Equity Group L.P. trimmed its position in Workday, Inc. (NASDAQ:WDAY) by 1.3% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 144,917 shares of the software maker’s stock after selling 1,918 shares during the quarter. Select Equity Group L.P.’s holdings in Workday were worth $32,398,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the company. Crewe Advisors LLC bought a new position in shares of Workday in the first quarter worth about $27,000. Sound Income Strategies LLC lifted its stake in 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 purchasing an additional 49 shares during the last quarter. SouthState Corp boosted its position in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after buying an additional 129 shares in the last quarter. Asset Dedication LLC bought a new stake in shares of Workday during the second quarter worth $36,000. Finally, PSI Advisors LLC bought a new stake in shares of Workday during the second quarter worth $38,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 78,279 shares of the business’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In related news, major shareholder David A. Duffield sold 76,376 shares of Workday stock in a transaction on Monday, July 8th. The stock was sold at an average price of $226.74, for a total transaction of $17,317,494.24. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $23,353,539.78. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 78,279 shares of the business’s stock in a transaction on Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $23,059,998.33. The disclosure for this sale can be found here. Insiders have sold 467,402 shares of company stock valued at $111,071,544 over the last ninety days. 20.00% of the stock is owned by company insiders.

Workday Price Performance

Shares of NASDAQ WDAY opened at $245.43 on Friday. The firm has a market capitalization of $65.04 billion, a P/E ratio of 44.22, a P/E/G ratio of 4.91 and a beta of 1.35. The firm’s 50-day moving average price is $238.49 and its 200-day moving average price is $241.73. 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, Inc. has a 1-year low of $199.81 and a 1-year 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 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 for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the prior year, the business earned $0.40 EPS. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. Equities research analysts anticipate that Workday, Inc. will post 2.39 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on WDAY shares. Stifel Nicolaus increased their price target on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Barclays lifted their price target on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Bank of America boosted their price target on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft raised their price objective on shares of Workday from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Evercore ISI reduced their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. One equities 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’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $287.04.

Workday 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.