Bank of New York Mellon Corp Has $323.76 Million Stake in Workday, Inc. $WDAY

Bank of New York Mellon Corp lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 3.2% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,344,923 shares of the software maker’s stock after selling 44,383 shares during the period. Bank of New York Mellon Corp’s holdings in Workday were worth $323,763,000 at the end of the most recent quarter.

Several other large investors have also recently bought and sold shares of WDAY. Stonehage Fleming Financial Services Holdings Ltd raised its position in shares of Workday by 25.7% during the third quarter. Stonehage Fleming Financial Services Holdings Ltd now owns 2,574 shares of the software maker’s stock worth $620,000 after acquiring an additional 526 shares during the last quarter. Phoenix Financial Ltd. acquired a new stake in shares of Workday during the third quarter worth $2,000,000. Callahan Advisors LLC grew its position in shares of Workday by 1.9% during the 3rd quarter. Callahan Advisors LLC now owns 17,070 shares of the software maker’s stock worth $4,109,000 after buying an additional 320 shares during the period. Quilter Plc grew its holdings in Workday by 8.8% during the third quarter. Quilter Plc now owns 952 shares of the software maker’s stock valued at $229,000 after purchasing an additional 77 shares during the period. Finally, AMF Tjanstepension AB acquired a new position in shares of Workday in the 3rd quarter valued at $47,016,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WDAY. The Goldman Sachs Group initiated coverage on shares of Workday in a report on Monday, January 12th. They issued a “neutral” rating and a $238.00 price target for the company. TD Cowen restated a “buy” rating on shares of Workday in a research note on Wednesday, November 26th. Sanford C. Bernstein reduced their price target on Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a research report on Wednesday, November 26th. Rosenblatt Securities initiated coverage on shares of Workday in a report on Tuesday, December 2nd. They issued a “neutral” rating and a $235.00 price objective on the stock. Finally, Loop Capital set a $280.00 target price on shares of Workday in a report on Wednesday, December 10th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $278.09.

Workday Price Performance

Shares of WDAY opened at $174.66 on Friday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. The company’s fifty day simple moving average is $209.36 and its 200 day simple moving average is $223.83. Workday, Inc. has a 1-year low of $169.01 and a 1-year high of $283.68. The company has a market cap of $45.94 billion, a price-to-earnings ratio of 73.39, a PEG ratio of 2.13 and a beta of 1.14.

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

Insider Activity

In related news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total value of $1,252,500.00. Following the sale, the chief financial officer owned 159,158 shares in the company, valued at approximately $33,224,232.50. This represents a 3.63% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gerrit S. Kazmaier sold 6,547 shares of the firm’s stock in a transaction on Friday, December 19th. The shares were sold at an average price of $218.77, for a total value of $1,432,287.19. Following the sale, the insider directly owned 111,353 shares of the company’s stock, valued at $24,360,695.81. This represents a 5.55% decrease in their position. The SEC filing for this sale provides additional information. Over the last quarter, insiders have sold 370,321 shares of company stock valued at $78,866,401. 19.31% of the stock is owned by insiders.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.