Workday, Inc. $WDAY Stock Holdings Reduced by Advent International L.P.

Advent International L.P. reduced its position in Workday, Inc. (NASDAQ:WDAY) by 66.8% during the 1st quarter, HoldingsChannel.com reports. The firm owned 88,480 shares of the software maker’s stock after selling 178,395 shares during the quarter. Workday makes up about 0.3% of Advent International L.P.’s investment portfolio, making the stock its 22nd largest holding. Advent International L.P.’s holdings in Workday were worth $11,495,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in shares of Workday during the 2nd quarter valued at about $25,000. Measured Wealth Private Client Group LLC acquired a new position in Workday in the third quarter worth approximately $26,000. JPL Wealth Management LLC acquired a new position in Workday in the third quarter worth approximately $30,000. DT Investment Partners LLC bought a new position in Workday during the fourth quarter valued at approximately $27,000. Finally, LRI Investments LLC bought a new position in Workday during the fourth quarter valued at approximately $29,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Up 9.0%

WDAY opened at $147.54 on Tuesday. The firm has a market cap of $36.44 billion, a P/E ratio of 46.11, a price-to-earnings-growth ratio of 1.44 and a beta of 1.11. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The business has a 50 day moving average price of $133.51 and a 200 day moving average price of $140.92. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter last year, the company posted $2.23 earnings per share. The company’s revenue for the quarter was up 13.5% compared to the same quarter last year. Research analysts forecast that Workday, Inc. will post 5.38 EPS for the current year.

Analyst Ratings Changes

A number of research firms have issued reports on WDAY. TD Cowen reiterated a “hold” rating on shares of Workday in a research note on Friday, May 22nd. KeyCorp raised their price target on shares of Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. Summit Redstone set a $275.00 price target on shares of Workday in a report on Wednesday, May 27th. Weiss Ratings reaffirmed a “sell (d+)” rating on shares of Workday in a research note on Wednesday, June 17th. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Workday in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $179.80.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $136.74, for a total value of $14,699,550.00. Following the transaction, the insider owned 105,049 shares in the company, valued at $14,364,400.26. This trade represents a 50.58% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 2,728 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total transaction of $391,795.36. Following the transaction, the insider directly owned 266,388 shares of the company’s stock, valued at approximately $38,258,644.56. This represents a 1.01% 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. Insiders sold 875,020 shares of company stock worth $113,938,503 in the last quarter. 18.64% of the stock is owned by corporate insiders.

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.