Versor Investments LP Decreases Stake in Workday, Inc. (NASDAQ:WDAY)

Versor Investments LP cut its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 87.4% during the third quarter, Holdings Channel.com reports. The institutional investor owned 1,000 shares of the software maker’s stock after selling 6,958 shares during the quarter. Versor Investments LP’s holdings in Workday were worth $244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in Workday during the 3rd quarter valued at about $26,000. Crewe Advisors LLC acquired a new position in Workday in the 1st quarter worth approximately $27,000. SouthState Corp raised its position in Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the last quarter. Goodman Advisory Group LLC acquired a new stake in Workday during the 2nd quarter valued at approximately $35,000. Finally, Asset Dedication LLC purchased a new stake in shares of Workday in the 2nd quarter valued at $36,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on WDAY shares. Evercore ISI reduced their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. DA Davidson upped their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Morgan Stanley lowered their price objective on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Finally, Needham & Company LLC cut their target price on shares of Workday from $350.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday, September 18th. 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 stock. According to MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average price target of $287.59.

Insider Buying and Selling

In other news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the transaction, the director now owns 97,500 shares of the company’s stock, valued at approximately $25,381,200. The trade was a 7.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, 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 sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is owned by corporate insiders.

Workday Price Performance

Shares of NASDAQ WDAY opened at $259.41 on Friday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The stock has a market capitalization of $68.74 billion, a price-to-earnings ratio of 45.19, a price-to-earnings-growth ratio of 5.39 and a beta of 1.35. 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 firm has a 50-day simple moving average of $246.74 and a 200-day simple moving average of $236.60.

Workday (NASDAQ:WDAY) last released its 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. The business 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 was up 16.5% on a year-over-year basis. During the same period last year, the company posted $0.40 EPS. On average, equities analysts predict that Workday, Inc. will post 2.4 earnings per share for the current fiscal 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.