Bank of New York Mellon Corp Decreases Stake in Workday, Inc. $WDAY

Bank of New York Mellon Corp lessened its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 7.1% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,256,446 shares of the software maker’s stock after selling 96,165 shares during the quarter. Bank of New York Mellon Corp’s holdings in Workday were worth $163,238,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Norges Bank acquired a new stake in Workday in the 4th quarter valued at $448,804,000. Harvest Fund Management Co. Ltd lifted its stake in shares of Workday by 40.1% during the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock worth $11,943,000 after purchasing an additional 15,903 shares in the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of Workday by 18.3% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock worth $122,804,000 after purchasing an additional 88,384 shares in the last quarter. Aurora Investment Counsel purchased a new stake in shares of Workday in the fourth quarter worth about $2,357,000. Finally, Morningstar Investment Management LLC boosted its position in shares of Workday by 127.2% in the fourth quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after buying an additional 15,138 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the subject of a number of analyst reports. Royal Bank Of Canada restated an “outperform” rating on shares of Workday in a report on Friday, May 22nd. The Goldman Sachs Group dropped their price objective on shares of Workday from $206.00 to $151.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 26th. DA Davidson set a $135.00 target price on shares of Workday in a research report on Tuesday, May 26th. KeyCorp upped their target price on shares of Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a research note on Friday, May 22nd. Finally, UBS Group raised their price target on shares of Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $184.00.

Insider Activity

In related news, major shareholder David A. Duffield sold 107,500 shares of the business’s stock in a transaction dated 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 sale, the insider owned 105,049 shares of the company’s stock, valued at $12,820,179.96. This represents a 50.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Robert Enslin sold 5,374 shares of the stock in a transaction dated Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the sale, the insider owned 239,469 shares in the company, valued at approximately $32,304,368.10. This trade represents a 2.19% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. In the last three months, insiders sold 875,020 shares of company stock valued at $113,938,503. Company insiders own 18.64% of the company’s stock.

Workday Stock Performance

WDAY stock opened at $144.78 on Friday. The stock’s 50 day simple moving average is $131.46 and its 200 day simple moving average is $144.55. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85. The firm has a market cap of $35.76 billion, a P/E ratio of 45.24, a P/E/G ratio of 1.55 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

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

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.