Arrowstreet Capital Limited Partnership Reduces Stock Holdings in Workday, Inc. $WDAY

Arrowstreet Capital Limited Partnership lessened its position in shares of Workday, Inc. (NASDAQ:WDAY) by 11.5% during the 1st quarter, Holdings Channel reports. The institutional investor owned 1,203,953 shares of the software maker’s stock after selling 156,213 shares during the quarter. Arrowstreet Capital Limited Partnership’s holdings in Workday were worth $156,418,000 at the end of the most recent quarter.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. increased its position in shares of Workday by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock worth $5,371,495,000 after purchasing an additional 3,210,232 shares during the last quarter. Auto Owners Insurance Co increased its position in shares of Workday by 25,412.8% during the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock valued at $2,197,332,000 after acquiring an additional 10,190,516 shares during the last quarter. State Street Corp raised its stake in shares of Workday by 1.0% in the 4th quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock valued at $2,098,552,000 after acquiring an additional 96,139 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in shares of Workday by 47.5% in 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 acquiring an additional 1,882,391 shares during the last quarter. Finally, Geode Capital Management LLC boosted its position in shares of Workday by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock worth $1,089,970,000 after purchasing an additional 75,922 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 107,500 shares of the business’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $136.74, for a total transaction of $14,699,550.00. Following the completion of the sale, the insider owned 105,049 shares in the company, valued at approximately $14,364,400.26. The trade was a 50.58% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Mark S. Garfield sold 918 shares of the company’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $142.19, for a total transaction of $130,530.42. Following the completion of the transaction, the chief accounting officer owned 73,718 shares of the company’s stock, valued at approximately $10,481,962.42. The trade was a 1.23% 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 875,020 shares of company stock valued at $113,938,503 in the last quarter. Company insiders own 18.64% of the company’s stock.

Workday Stock Up 5.8%

WDAY stock opened at $135.34 on Friday. The company’s 50 day moving average price is $133.13 and its 200 day moving average price is $141.84. The firm has a market capitalization of $33.43 billion, a price-to-earnings ratio of 42.29, a PEG ratio of 1.44 and a beta of 1.11. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating 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 company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the firm posted $2.23 EPS. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts anticipate that Workday, Inc. will post 5.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of research analyst reports. Weiss Ratings reissued a “sell (d+)” rating on shares of Workday in a research report on Wednesday, June 17th. Monness Crespi & Hardt raised Workday from a “neutral” rating to a “buy” rating and set a $150.00 price objective for the company in a research note on Thursday, June 25th. Wells Fargo & Company boosted their price objective on Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Wolfe Research reissued an “outperform” rating and set a $160.00 price target on shares of Workday in a research report on Friday, May 22nd. Finally, DA Davidson set a $135.00 target price on shares of Workday in a research note on Tuesday, May 26th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $179.80.

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.