Workday, Inc. $WDAY Shares Sold by Sterling Capital Management LLC

Sterling Capital Management LLC decreased its position in Workday, Inc. (NASDAQ:WDAY) by 34.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,124 shares of the software maker’s stock after selling 4,806 shares during the period. Sterling Capital Management LLC’s holdings in Workday were worth $1,185,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDAY. Aaron Wealth Advisors LLC increased its holdings in shares of Workday by 170.4% in the first quarter. Aaron Wealth Advisors LLC now owns 4,916 shares of the software maker’s stock valued at $639,000 after purchasing an additional 3,098 shares during the period. Louisiana State Employees Retirement System acquired a new stake in shares of Workday during the first quarter worth about $3,235,000. Fiduciary Alliance LLC lifted its holdings in shares of Workday by 10.9% during the first quarter. Fiduciary Alliance LLC now owns 15,431 shares of the software maker’s stock worth $1,915,000 after purchasing an additional 1,516 shares during the period. Blue Trust Inc. boosted its position in Workday by 32.9% in the first quarter. Blue Trust Inc. now owns 2,591 shares of the software maker’s stock valued at $337,000 after buying an additional 641 shares during the last quarter. Finally, OP Asset Management Ltd purchased a new stake in Workday in the first quarter valued at approximately $5,900,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. Piper Sandler raised their price target on shares of Workday from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. KeyCorp upped their price objective on shares of Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a report on Friday, May 22nd. HC Wainwright set a $140.00 target price on shares of Workday in a report on Wednesday, May 27th. Loop Capital set a $210.00 price target on shares of Workday in a report on Thursday, March 12th. Finally, Jefferies Financial Group increased their price target on Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $184.00.

Workday Price Performance

Workday stock opened at $123.58 on Tuesday. The stock has a market capitalization of $30.52 billion, a P/E ratio of 38.62, a P/E/G ratio of 1.33 and a beta of 1.09. The company’s fifty day moving average price is $127.44 and its 200 day moving average price is $151.94. 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, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share 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 firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm earned $2.23 EPS. The company’s revenue for the quarter was up 13.5% on a year-over-year basis. As a group, equities research analysts anticipate that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Insider Activity at Workday

In other Workday news, insider Gerrit S. Kazmaier sold 9,356 shares of the business’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total value of $1,201,216.84. Following the sale, the insider owned 165,074 shares of the company’s stock, valued at $21,193,850.86. The trade was a 5.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, insider Robert Enslin sold 5,373 shares of the stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $129.41, for a total value of $695,319.93. Following the transaction, the insider directly owned 165,414 shares in the company, valued at approximately $21,406,225.74. The trade was a 3.15% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last 90 days, insiders sold 774,814 shares of company stock worth $98,324,391. Company insiders own 18.64% of the company’s stock.

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.