Dana Investment Advisors Inc. Trims Position in Workday, Inc. (NASDAQ:WDAY)

Dana Investment Advisors Inc. decreased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 0.4% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 107,345 shares of the software maker’s stock after selling 425 shares during the quarter. Workday makes up 0.8% of Dana Investment Advisors Inc.’s portfolio, making the stock its 21st largest position. Dana Investment Advisors Inc.’s holdings in Workday were worth $23,998,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company boosted its holdings in shares of Workday by 79.1% in the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after purchasing an additional 1,016,394 shares during the period. Van ECK Associates Corp grew its position in shares of Workday by 17,345.2% during the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after buying an additional 925,366 shares in the last quarter. Vanguard Group Inc. increased its stake in shares of Workday by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock valued at $3,988,549,000 after buying an additional 437,215 shares during the period. D1 Capital Partners L.P. raised its holdings in shares of Workday by 152.1% in the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after acquiring an additional 312,500 shares in the last quarter. Finally, Sustainable Growth Advisers LP lifted its stake in Workday by 9.7% in the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after acquiring an additional 301,463 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Workday

In other news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Monday, August 26th. The shares were 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 in the company, valued at $51,106,379.76. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction that occurred on 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 transaction, the insider now owns 196,344 shares of the company’s stock, valued at $51,106,379.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $226.67, for a total value of $710,383.78. Following the completion of the transaction, the insider now owns 92,014 shares in the company, valued at approximately $20,856,813.38. The disclosure for this sale can be found here. Over the last three months, insiders have sold 389,123 shares of company stock valued at $93,545,659. Company insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

A number of research firms have commented on WDAY. Citigroup cut their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. BMO Capital Markets reissued an “outperform” rating and set a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. DA Davidson upped their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Wells Fargo & Company lifted 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, Morgan Stanley reduced their price target on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. One research 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’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $287.04.

Workday Stock Performance

WDAY opened at $244.41 on Tuesday. The firm has a market capitalization of $64.77 billion, a PE ratio of 44.04, a P/E/G ratio of 4.85 and a beta of 1.35. The firm has a 50 day moving average of $239.12 and a two-hundred day moving average of $240.96. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. 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 posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the previous year, the business posted $0.40 EPS. The business’s revenue was up 16.5% compared to the same quarter last year. On average, analysts anticipate that Workday, Inc. will post 2.39 EPS for the current year.

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.