Manning & Napier Advisors LLC Sells 11,794 Shares of Workday, Inc. $WDAY

Manning & Napier Advisors LLC reduced its position in Workday, Inc. (NASDAQ:WDAY) by 2.3% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 503,573 shares of the software maker’s stock after selling 11,794 shares during the quarter. Workday comprises approximately 1.6% of Manning & Napier Advisors LLC’s investment portfolio, making the stock its 20th biggest holding. Manning & Napier Advisors LLC’s holdings in Workday were worth $124,730,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in WDAY. Rakuten Securities Inc. purchased a new stake in Workday in the 2nd quarter valued at about $25,000. Berbice Capital Management LLC lifted its stake in Workday by 136.4% during the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after acquiring an additional 75 shares in the last quarter. Golden State Wealth Management LLC grew its position in Workday by 2,216.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after acquiring an additional 133 shares in the last quarter. Twin Peaks Wealth Advisors LLC acquired a new position in shares of Workday in the second quarter valued at approximately $41,000. Finally, Physician Wealth Advisors Inc. purchased a new stake in Workday during the 2nd quarter worth approximately $42,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have recently weighed in on WDAY shares. Royal Bank Of Canada cut their price objective on Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Wednesday, September 17th. Piper Sandler upgraded shares of Workday from an “underweight” rating to a “neutral” rating and upped their price objective for the company from $220.00 to $235.00 in a research note on Wednesday, September 17th. Oppenheimer restated an “outperform” rating on shares of Workday in a research report on Wednesday, November 26th. Finally, Sanford C. Bernstein lowered their price target on Workday from $304.00 to $298.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and thirteen have given a Hold rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $278.09.

Insider Activity

In related news, insider Gerrit S. Kazmaier sold 6,547 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $218.77, for a total value of $1,432,287.19. Following the transaction, the insider directly owned 111,353 shares of the company’s stock, valued at approximately $24,360,695.81. This trade represents a 5.55% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 82,884 shares of the business’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $209.75, for a total value of $17,384,919.00. Following the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $22,034,027.75. This trade represents a 44.10% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 370,321 shares of company stock valued at $78,866,401 in the last three months. Company insiders own 20.00% of the company’s stock.

Workday Stock Down 4.0%

WDAY opened at $199.55 on Wednesday. The firm has a market cap of $52.48 billion, a P/E ratio of 83.84, a PEG ratio of 2.34 and a beta of 1.14. The business’s fifty day simple moving average is $218.58 and its 200 day simple moving average is $227.88. Workday, Inc. has a 52 week low of $199.00 and a 52 week high of $283.68. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the business posted $1.89 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.