Carnegie Investment Counsel Sells 14,791 Shares of Workday, Inc. $WDAY

Carnegie Investment Counsel decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 70.3% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,242 shares of the software maker’s stock after selling 14,791 shares during the quarter. Carnegie Investment Counsel’s holdings in Workday were worth $811,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Rakuten Securities Inc. bought a new position in Workday in the second quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC bought a new stake in shares of Workday during the 3rd quarter valued at $26,000. DT Investment Partners LLC bought a new stake in shares of Workday during the 4th quarter valued at $27,000. LRI Investments LLC acquired a new position in shares of Workday in the 4th quarter valued at $29,000. Finally, JPL Wealth Management LLC acquired a new position in shares of Workday in the 3rd quarter valued at $30,000. 89.81% of the stock is owned by institutional investors.

Insider Activity

In other Workday news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the sale, the chief financial officer directly owned 288,460 shares in the company, valued at approximately $41,451,702. This trade represents a 2.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction that occurred on Tuesday, June 30th. The shares were sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the completion of the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $12,820,179.96. The trade was a 50.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 874,102 shares of company stock worth $113,807,973 in the last 90 days. Corporate insiders own 18.64% of the company’s stock.

Workday Stock Performance

Shares of Workday stock opened at $144.87 on Tuesday. The stock’s fifty day simple moving average is $130.23 and its 200 day simple moving average is $146.14. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $35.78 billion, a PE ratio of 45.27, a PEG ratio of 1.49 and a beta of 1.11. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the firm earned $2.23 earnings per share. The company’s revenue was up 13.5% on a year-over-year basis. On average, research analysts predict that Workday, Inc. will post 5.34 EPS for the current year.

Trending Headlines about Workday

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Investors are favoring enterprise software after a sharp selloff in semiconductors, lifting Workday along with peers like Salesforce and PagerDuty. Salesforce, Workday, and PagerDuty Stocks Trade Up, What You Need To Know
• Positive Sentiment: Analysts continue to view Workday as attractively valued versus some enterprise AI/software peers, with rising earnings estimates supporting the bullish case. Workday vs. Arista: Which Enterprise AI Stock Has More Upside Now?
• Neutral Sentiment: Workday was mentioned in a mixed session for enterprise software as the Nasdaq came under pressure, indicating sector-wide volatility rather than company-specific news. Enterprise software stocks mixed as tech-heavy Nasdaq takes hit
• Negative Sentiment: Insider selling by major shareholder David A. Duffield may create some caution, even though the sale was made under a pre-arranged trading plan. Workday insider trade disclosure

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the company. Wells Fargo & Company raised their price target on Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. William Blair raised Workday to a “strong-buy” rating in a research note on Friday, May 22nd. Royal Bank Of Canada restated an “outperform” rating on shares of Workday in a report on Friday, May 22nd. Wall Street Zen upgraded Workday from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $160.00 price target on shares of Workday in a research note on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, fourteen have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus price target of $184.00.

Workday Company 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.