Federated Hermes Inc. Trims Stock Position in Workday, Inc. $WDAY

Federated Hermes Inc. decreased its holdings in Workday, Inc. (NASDAQ:WDAY) by 40.7% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 93,870 shares of the software maker’s stock after selling 64,320 shares during the quarter. Federated Hermes Inc.’s holdings in Workday were worth $22,529,000 at the end of the most recent reporting period.

Other large investors also recently added to or reduced their stakes in the company. Brighton Jones LLC boosted its stake in shares of Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after acquiring an additional 2,792 shares during the last quarter. SouthState Corp raised its holdings in Workday by 61.9% in the 1st quarter. SouthState Corp now owns 251 shares of the software maker’s stock worth $59,000 after purchasing an additional 96 shares during the period. Public Sector Pension Investment Board lifted its position in Workday by 7.9% during the first quarter. Public Sector Pension Investment Board now owns 33,236 shares of the software maker’s stock valued at $7,762,000 after purchasing an additional 2,443 shares in the last quarter. Rathbones Group PLC grew its holdings in Workday by 0.3% during the first quarter. Rathbones Group PLC now owns 30,665 shares of the software maker’s stock valued at $7,161,000 after purchasing an additional 81 shares during the period. Finally, Resona Asset Management Co. Ltd. increased its position in Workday by 8.3% in the first quarter. Resona Asset Management Co. Ltd. now owns 70,558 shares of the software maker’s stock worth $16,532,000 after buying an additional 5,391 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have recently weighed in on the company. Oppenheimer reaffirmed an “outperform” rating on shares of Workday in a research report on Wednesday, November 26th. Cowen reaffirmed a “buy” rating on shares of Workday in a report on Wednesday, November 26th. Zacks Research lowered shares of Workday from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Morgan Stanley raised their price objective on shares of Workday from $255.00 to $280.00 and gave the company an “equal weight” rating in a research report on Wednesday, November 26th. Finally, TD Cowen dropped their target price on shares of Workday from $290.00 to $280.00 and set a “buy” rating for the company in a report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and twelve have issued a Hold rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $281.16.

Insider Buying and Selling at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Wednesday, October 1st. The shares were sold at an average price of $237.52, for a total value of $1,484,500.00. Following the completion of the transaction, the chief executive officer owned 20,222 shares of the company’s stock, valued at approximately $4,803,129.44. This trade represents a 23.61% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 82,025 shares of Workday stock in a transaction dated Tuesday, December 2nd. The stock was sold at an average price of $212.19, for a total value of $17,404,884.75. Following the completion of the transaction, the insider owned 105,049 shares of the company’s stock, valued at approximately $22,290,347.31. This represents a 43.85% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 346,958 shares of company stock valued at $78,880,645 over the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $222.25 on Wednesday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83. Workday, Inc. has a 1-year low of $205.33 and a 1-year high of $283.68. The business has a 50 day simple moving average of $229.61 and a two-hundred day simple moving average of $233.00. The stock has a market capitalization of $58.45 billion, a PE ratio of 93.38, a P/E/G ratio of 2.67 and a beta of 1.15.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the firm earned $1.89 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, research analysts predict that Workday, Inc. will post 2.63 EPS 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.