Workday, Inc. $WDAY Shares Sold by Madison Asset Management LLC

Madison Asset Management LLC lessened its position in shares of Workday, Inc. (NASDAQ:WDAY) by 5.7% during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 87,781 shares of the software maker’s stock after selling 5,339 shares during the period. Madison Asset Management LLC’s holdings in Workday were worth $11,405,000 as of its most recent SEC filing.

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

Workday Stock Performance

WDAY stock opened at $141.17 on Wednesday. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The stock has a market capitalization of $34.87 billion, a price-to-earnings ratio of 44.12, a PEG ratio of 1.57 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 stock’s fifty day moving average is $132.42 and its two-hundred day moving average is $143.01.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.52 billion. During the same quarter in the prior year, the firm earned $2.23 earnings per share. The company’s quarterly revenue was up 13.5% on a year-over-year basis. On average, research analysts predict that Workday, Inc. will post 5.35 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WDAY. UBS Group increased their target price on shares of Workday from $130.00 to $140.00 and gave the stock a “neutral” rating in a report on Friday, May 22nd. TD Cowen reaffirmed a “hold” rating on shares of Workday in a report on Friday, May 22nd. Piper Sandler boosted their price objective on shares of Workday from $135.00 to $145.00 and gave the company a “neutral” rating in a research report on Friday, May 22nd. Morgan Stanley lowered shares of Workday from an “equal weight” rating to an “underweight” rating and dropped their price objective for the stock from $185.00 to $145.00 in a research note on Tuesday. Finally, Jefferies Financial Group raised their target price on shares of Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the stock. According to MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

Insider Buying and Selling at Workday

In other news, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction that occurred on 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 of the company’s stock, valued at approximately $32,304,368.10. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 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, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the transaction, the chief financial officer owned 288,460 shares of the company’s stock, valued at approximately $41,451,702. This represents a 2.04% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. 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 valued at $113,938,503 in the last ninety days. Company insiders own 18.64% of the company’s stock.

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.