Workday, Inc. (NASDAQ:WDAY) Shares Sold by MQS Management LLC

MQS Management LLC trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY) by 24.1% in the third quarter, Holdings Channel.com reports. The firm owned 1,028 shares of the software maker’s stock after selling 326 shares during the period. MQS Management LLC’s holdings in Workday were worth $251,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. The Manufacturers Life Insurance Company grew its stake in shares of Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after acquiring an additional 1,016,394 shares in the last quarter. Van ECK Associates Corp boosted its holdings in Workday by 17,345.2% in the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after purchasing an additional 925,366 shares during the last quarter. Vanguard Group Inc. grew its stake in Workday by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after purchasing an additional 324,540 shares in the last quarter. D1 Capital Partners L.P. grew its stake in Workday by 152.1% during the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after purchasing an additional 312,500 shares in the last quarter. Finally, Lindbrook Capital LLC increased its holdings in Workday by 17,001.6% during the 3rd quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock worth $703,000 after purchasing an additional 284,266 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the subject of several research analyst reports. Stifel Nicolaus increased their target price on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Bank of America raised their price objective on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Citigroup cut their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. Needham & Company LLC decreased their price target on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. Finally, JMP Securities reissued a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.59.

Workday Stock Down 1.8 %

Shares of Workday stock opened at $271.49 on Friday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The business’s fifty day moving average price is $246.33 and its two-hundred day moving average price is $236.28. The company has a market capitalization of $71.94 billion, a P/E ratio of 47.30, a PEG ratio of 5.49 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company’s revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the business earned $0.40 earnings per share. As a group, research analysts forecast that Workday, Inc. will post 2.4 EPS for the current year.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the completion of the transaction, the insider now owns 281,000 shares of the company’s stock, valued at $68,004,810. This trade represents a 16.62 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares in the company, valued at approximately $2,097,806.90. This trade represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is owned by corporate insiders.

Workday Company Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.