Workday, Inc. $WDAY Shares Sold by Chevy Chase Trust Holdings LLC

Chevy Chase Trust Holdings LLC trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY) by 3.8% during the third quarter, according to its most recent Form 13F filing with the SEC. The firm owned 110,573 shares of the software maker’s stock after selling 4,380 shares during the period. Chevy Chase Trust Holdings LLC’s holdings in Workday were worth $26,618,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WDAY. Vanguard Group Inc. increased its position in shares of Workday by 3.2% in the 3rd quarter. Vanguard Group Inc. now owns 21,799,056 shares of the software maker’s stock valued at $5,247,687,000 after purchasing an additional 684,872 shares during the last quarter. State Street Corp raised its holdings in shares of Workday by 3.3% in the 2nd quarter. State Street Corp now owns 9,600,516 shares of the software maker’s stock valued at $2,304,124,000 after purchasing an additional 303,713 shares in the last quarter. Hotchkis & Wiley Capital Management LLC lifted its position in shares of Workday by 47.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after purchasing an additional 1,882,391 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Workday by 41.5% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker’s stock worth $905,530,000 after purchasing an additional 1,103,421 shares during the last quarter. Finally, Parnassus Investments LLC grew its stake in shares of Workday by 13.1% during the third quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker’s stock worth $774,478,000 after purchasing an additional 371,561 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently commented on WDAY. Royal Bank Of Canada dropped their target price on Workday from $220.00 to $180.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. TD Cowen cut Workday from a “buy” rating to a “hold” rating and set a $155.00 price objective for the company. in a research report on Wednesday, February 25th. Macquarie Infrastructure reiterated a “buy” rating on shares of Workday in a report on Wednesday, November 26th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday, February 25th. Finally, Rosenblatt Securities cut their target price on Workday from $180.00 to $150.00 and set a “buy” rating on the stock in a research report on Wednesday, February 25th. Nineteen investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $199.71.

Workday Stock Performance

NASDAQ WDAY opened at $133.63 on Tuesday. The company has a fifty day moving average of $163.16 and a two-hundred day moving average of $205.15. The company has a market capitalization of $34.34 billion, a PE ratio of 51.79, a P/E/G ratio of 1.29 and a beta of 1.17. Workday, Inc. has a 1 year low of $117.76 and a 1 year high of $276.00. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. Workday had a return on equity of 13.37% and a net margin of 7.26%.The business had revenue of $2.53 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter in the previous year, the firm earned $1.92 earnings per share. The business’s revenue was up 14.5% compared to the same quarter last year. As a group, analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity

In other Workday news, insider Gerrit S. Kazmaier sold 6,547 shares of Workday stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $218.77, for a total transaction of $1,432,287.19. Following the transaction, the insider owned 111,353 shares of the company’s stock, valued at $24,360,695.81. The trade was a 5.55% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the business’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $210.00, for a total value of $656,250.00. Following the completion of the sale, the chief executive officer owned 17,097 shares of the company’s stock, valued at approximately $3,590,370. This represents a 15.45% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 529,362 shares of company stock worth $89,425,451 over the last ninety days. 20.00% of the stock is owned by corporate insiders.

Workday Profile

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.