Workday, Inc. (NASDAQ:WDAY) Shares Sold by AM Squared Ltd

AM Squared Ltd decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 16.7% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,000 shares of the software maker’s stock after selling 200 shares during the period. AM Squared Ltd’s holdings in Workday were worth $207,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in the business. BlackRock Inc. boosted its stake in shares of Workday by 2.1% during the first quarter. BlackRock Inc. now owns 12,379,921 shares of the software maker’s stock worth $2,556,949,000 after buying an additional 260,097 shares during the period. Vanguard Group Inc. lifted its position in Workday by 1.2% in the first quarter. Vanguard Group Inc. now owns 12,152,961 shares of the software maker’s stock valued at $2,910,149,000 after purchasing an additional 139,939 shares during the period. FMR LLC lifted its position in Workday by 9.5% in the first quarter. FMR LLC now owns 4,469,451 shares of the software maker’s stock valued at $923,120,000 after purchasing an additional 387,018 shares during the period. State Street Corp lifted its position in Workday by 3.0% in the first quarter. State Street Corp now owns 4,270,722 shares of the software maker’s stock valued at $882,064,000 after purchasing an additional 126,266 shares during the period. Finally, The Manufacturers Life Insurance Company lifted its position in Workday by 22.4% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,971,772 shares of the software maker’s stock valued at $664,598,000 after purchasing an additional 725,609 shares during the period. Institutional investors and hedge funds own 68.46% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the stock. DA Davidson raised their price objective on shares of Workday from $270.00 to $280.00 and gave the company a “buy” rating in a research report on Friday, August 25th. Piper Sandler raised their price objective on shares of Workday from $280.00 to $288.00 and gave the company an “overweight” rating in a research report on Friday, August 25th. TD Cowen raised their price objective on shares of Workday from $250.00 to $270.00 and gave the company an “outperform” rating in a research report on Friday, August 25th. JMP Securities restated a “market outperform” rating and issued a $260.00 price objective on shares of Workday in a research report on Friday, September 8th. Finally, Sanford C. Bernstein increased their target price on shares of Workday from $275.00 to $284.00 and gave the company an “outperform” rating in a report on Sunday, August 27th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-six have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $245.71.

Workday Stock Performance

Workday stock opened at $247.73 on Wednesday. The stock’s 50-day moving average is $231.96 and its 200-day moving average is $210.12. The company has a market cap of $64.91 billion, a price-to-earnings ratio of -516.10, a price-to-earnings-growth ratio of 11.75 and a beta of 1.23. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.00 and a quick ratio of 2.00. Workday, Inc. has a 12 month low of $128.72 and a 12 month high of $252.72.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, August 24th. The software maker reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17. The company had revenue of $1.79 billion for the quarter, compared to the consensus estimate of $1.77 billion. Workday had a positive return on equity of 2.09% and a negative net margin of 1.81%. The company’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same period last year, the business posted ($0.16) EPS. Equities analysts anticipate that Workday, Inc. will post 0.77 earnings per share for the current year.

Insider Transactions at Workday

In other news, insider Sayan Chakraborty sold 3,926 shares of the firm’s stock in a transaction dated Wednesday, July 5th. The stock was sold at an average price of $221.43, for a total value of $869,334.18. Following the transaction, the insider now directly owns 139,074 shares in the company, valued at approximately $30,795,155.82. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Workday news, Director George J. Still, Jr. sold 5,000 shares of the firm’s stock in a transaction that occurred on Friday, September 8th. The stock was sold at an average price of $251.00, for a total transaction of $1,255,000.00. Following the completion of the sale, the director now owns 115,000 shares in the company, valued at approximately $28,865,000. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Sayan Chakraborty sold 3,926 shares of the firm’s stock in a transaction that occurred on Wednesday, July 5th. The shares were sold at an average price of $221.43, for a total value of $869,334.18. Following the sale, the insider now owns 139,074 shares of the company’s stock, valued at approximately $30,795,155.82. The disclosure for this sale can be found here. Insiders have sold a total of 29,143 shares of company stock worth $6,606,140 in the last three months. 21.09% of the stock is currently owned by company insiders.

Workday 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, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers 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.