Federated Hermes Inc. Sells 64,320 Shares of Workday, Inc. $WDAY

Federated Hermes Inc. lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 40.7% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 93,870 shares of the software maker’s stock after selling 64,320 shares during the period. Federated Hermes Inc.’s holdings in Workday were worth $22,529,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in WDAY. Vanguard Group Inc. grew its holdings in shares of Workday by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock worth $5,067,404,000 after acquiring an additional 515,529 shares during the period. Geode Capital Management LLC grew its stake in Workday by 2.9% in the second quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock worth $1,183,112,000 after purchasing an additional 140,042 shares during the period. T. Rowe Price Investment Management Inc. raised its holdings in Workday by 47.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock worth $879,147,000 after purchasing an additional 1,211,659 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in Workday by 0.4% in the first quarter. The Manufacturers Life Insurance Company now owns 3,736,609 shares of the software maker’s stock worth $872,610,000 after purchasing an additional 14,354 shares in the last quarter. Finally, Hotchkis & Wiley Capital Management LLC lifted its position in Workday by 35.6% during the first quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker’s stock valued at $812,475,000 after buying an additional 913,613 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several research analysts recently issued reports on WDAY shares. Oppenheimer reiterated an “outperform” rating on shares of Workday in a research note on Wednesday, November 26th. Piper Sandler upgraded shares of Workday from an “underweight” rating to a “neutral” rating and upped their price objective for the stock from $220.00 to $235.00 in a report on Wednesday, September 17th. Sanford C. Bernstein lowered their target price on shares of Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a report on Wednesday, November 26th. BMO Capital Markets dropped their price target on Workday from $314.00 to $285.00 and set an “outperform” rating on the stock in a research report on Friday, August 22nd. Finally, TD Cowen cut their price target on Workday from $290.00 to $280.00 and set a “buy” rating on the stock in a research note on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and twelve have given a Hold rating to the company. According to data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $281.16.

Insider Activity

In other news, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total value of $1,395,720.00. Following the completion of the sale, the chief financial officer directly owned 168,468 shares in the company, valued at $39,189,026.16. The trade was a 3.44% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Richard Harry Sauer sold 2,320 shares of the business’s stock in a transaction that occurred on Tuesday, October 7th. The shares were sold at an average price of $235.87, for a total transaction of $547,218.40. Following the transaction, the insider directly owned 90,077 shares of the company’s stock, valued at $21,246,461.99. The trade was a 2.51% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 346,958 shares of company stock worth $78,880,645. 20.00% of the stock is owned by corporate insiders.

Workday Stock Performance

Shares of WDAY opened at $222.25 on Wednesday. The company has a market cap of $58.45 billion, a price-to-earnings ratio of 93.38, a P/E/G ratio of 2.67 and a beta of 1.15. The business’s fifty day simple moving average is $229.61 and its two-hundred day simple moving average is $233.00. Workday, Inc. has a 12 month low of $205.33 and a 12 month high of $283.68. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34.

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

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 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.