Nilsine Partners LLC Reduces Holdings in Workday, Inc. (NASDAQ:WDAY)

Nilsine Partners LLC decreased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 8.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,736 shares of the software maker’s stock after selling 161 shares during the period. Nilsine Partners LLC’s holdings in Workday were worth $405,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Farmers & Merchants Investments Inc. purchased a new stake in Workday during the 1st quarter worth $32,000. TCTC Holdings LLC bought a new stake in shares of Workday in the 4th quarter worth about $35,000. Financial Management Professionals Inc. increased its position in shares of Workday by 54.0% in the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock worth $36,000 after purchasing an additional 54 shares during the last quarter. Rakuten Securities Inc. increased its position in shares of Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after purchasing an additional 66 shares during the last quarter. Finally, Rothschild Investment LLC increased its position in shares of Workday by 169.6% in the 1st quarter. Rothschild Investment LLC now owns 213 shares of the software maker’s stock worth $50,000 after purchasing an additional 134 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Up 0.6%

Workday stock opened at $238.19 on Monday. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33. The firm has a 50-day moving average price of $247.01 and a two-hundred day moving average price of $251.83. The firm has a market capitalization of $63.60 billion, a price-to-earnings ratio of 131.60, a PEG ratio of 3.60 and a beta of 1.24. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.74 EPS. Sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 81,275 shares of the company’s stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $22,111,395.96. This represents a 44.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO Carl M. Eschenbach sold 3,125 shares of the company’s stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the sale, the chief executive officer now directly owns 10,847 shares of the company’s stock, valued at approximately $2,544,814.67. This represents a 22.37% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 181,762 shares of company stock valued at $41,995,382. Company insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the stock. Canaccord Genuity Group boosted their target price on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Guggenheim reissued a “neutral” rating on shares of Workday in a research report on Friday, May 23rd. Oppenheimer dropped their target price on shares of Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 23rd. Citigroup downgraded shares of Workday from a “neutral” rating to a “mixed” rating in a research report on Friday, May 16th. Finally, Mizuho lowered their price objective on shares of Workday from $320.00 to $275.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $293.54.

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.