Workday, Inc. $WDAY Stock Sold by Pzena Investment Management LLC

Pzena Investment Management LLC decreased its holdings in Workday, Inc. (NASDAQ:WDAY) by 12.1% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,733,006 shares of the software maker’s stock after selling 238,264 shares during the period. Workday comprises approximately 1.0% of Pzena Investment Management LLC’s portfolio, making the stock its 29th largest position. Pzena Investment Management LLC’s holdings in Workday were worth $330,068,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. CoreCap Advisors LLC raised its stake in shares of Workday by 55.9% in the third quarter. CoreCap Advisors LLC now owns 173 shares of the software maker’s stock valued at $33,000 after acquiring an additional 62 shares in the last quarter. Signature Equity Partners LLC boosted its holdings in Workday by 350.0% in the third quarter. Signature Equity Partners LLC now owns 198 shares of the software maker’s stock valued at $38,000 after purchasing an additional 154 shares during the period. Western Wealth Management LLC purchased a new position in Workday in the first quarter valued at $39,000. Manning & Napier Advisors LLC acquired a new position in Workday during the 2nd quarter worth $42,000. Finally, Provenance Wealth Advisors LLC increased its holdings in Workday by 388.9% during the 3rd quarter. Provenance Wealth Advisors LLC now owns 220 shares of the software maker’s stock worth $42,000 after purchasing an additional 175 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ:WDAY opened at $201.84 on Thursday. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $236.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $48.64 billion, a PE ratio of 32.34, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02. The business’s fifty day moving average price is $194.15 and its 200 day moving average price is $156.36.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.61 by $0.14. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%. Workday’s revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the business earned $2.21 EPS. On average, sell-side analysts anticipate that Workday, Inc. will post 5.32 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. Mizuho set a $210.00 price target on Workday in a research report on Wednesday, October 14th. Loop Capital lifted their price objective on Workday from $135.00 to $200.00 and gave the company a “hold” rating in a research note on Friday, August 21st. Capital One Financial lowered their price objective on Workday from $203.00 to $202.00 and set an “equal weight” rating for the company in a research report on Wednesday, October 14th. Lake Street Capital set a $205.00 target price on shares of Workday in a research note on Friday, August 14th. Finally, Jefferies Financial Group reduced their target price on shares of Workday from $220.00 to $210.00 and set a “hold” rating on the stock in a report on Thursday, October 8th. Twenty-two equities research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $202.10.

Insider Activity at Workday

In other news, major shareholder David Duffield sold 100,780 shares of the firm’s stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $185.64, for a total transaction of $18,708,799.20. Following the sale, the insider owned 105,049 shares of the company’s stock, valued at approximately $19,501,296.36. This trade represents a 48.96% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders sold 988,104 shares of company stock valued at $188,811,574. Corporate insiders own 18.64% of the company’s stock.

About Workday

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company’s products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.