Sycomore Asset Management Sells 3,927 Shares of Workday, Inc. (NASDAQ:WDAY)

Sycomore Asset Management lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 5.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 67,139 shares of the software maker’s stock after selling 3,927 shares during the quarter. Workday makes up about 2.4% of Sycomore Asset Management’s holdings, making the stock its 9th largest position. Sycomore Asset Management’s holdings in Workday were worth $16,478,000 at the end of the most recent quarter.

Several other hedge funds also recently made changes to their positions in the company. Capital Performance Advisors LLP acquired a new position in shares of Workday during the 3rd quarter valued at $26,000. Crewe Advisors LLC acquired a new stake in shares of Workday during the first quarter worth $27,000. SouthState Corp increased its holdings in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the last quarter. Goodman Advisory Group LLC acquired a new position in shares of Workday during the second quarter valued at about $35,000. Finally, Asset Dedication LLC acquired a new stake in Workday during the second quarter worth $36,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Monday, October 14th. The shares were sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the sale, the insider now directly owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, October 14th. The shares were sold at an average price of $242.01, for a total value of $13,552,560.00. Following the transaction, the insider now owns 281,000 shares of the company’s stock, valued at $68,004,810. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the sale, the director now directly owns 97,500 shares of the company’s stock, valued at $25,381,200. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 370,575 shares of company stock valued at $91,506,897 in the last three months. 20.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of analysts recently weighed in on WDAY shares. Loop Capital raised their price target on shares of Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Thursday, September 19th. The Goldman Sachs Group raised their target price on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Deutsche Bank Aktiengesellschaft increased their price target on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Finally, DA Davidson lifted their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average price target of $287.04.

Workday Stock Performance

Shares of NASDAQ:WDAY traded down $2.25 on Thursday, hitting $274.26. 588,905 shares of the company were exchanged, compared to its average volume of 2,098,856. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The company’s 50 day moving average price is $246.33 and its two-hundred day moving average price is $236.28. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The firm has a market capitalization of $72.68 billion, a price-to-earnings ratio of 48.17, a PEG ratio of 5.37 and a beta of 1.35.

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

About Workday

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.