Sapient Capital LLC Cuts Stake in Workday, Inc. $WDAY

Sapient Capital LLC cut its holdings in Workday, Inc. (NASDAQ:WDAY) by 96.8% during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,485 shares of the software maker’s stock after selling 75,319 shares during the period. Sapient Capital LLC’s holdings in Workday were worth $616,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Verdence Capital Advisors LLC lifted its holdings in shares of Workday by 1.0% in the second quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock worth $1,051,000 after buying an additional 45 shares in the last quarter. Perennial Investment Advisors LLC increased its holdings in Workday by 2.8% in the 2nd quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock valued at $418,000 after acquiring an additional 48 shares during the last quarter. Johnson Investment Counsel Inc. lifted its stake in Workday by 2.3% in the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock worth $528,000 after purchasing an additional 49 shares in the last quarter. Bay Harbor Wealth Management LLC lifted its stake in Workday by 12.0% in the 3rd quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock worth $110,000 after purchasing an additional 49 shares in the last quarter. Finally, Farther Finance Advisors LLC boosted its holdings in shares of Workday by 1.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock valued at $994,000 after purchasing an additional 49 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 82,025 shares of the company’s stock in a transaction that occurred on Tuesday, December 2nd. The stock was sold at an average price of $212.19, for a total transaction of $17,404,884.75. Following the transaction, the insider owned 105,049 shares of the company’s stock, valued at approximately $22,290,347.31. This represents a 43.85% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Michael M. Mcnamara sold 5,393 shares of the stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $235.16, for a total value of $1,268,217.88. Following the completion of the sale, the director owned 24,078 shares in the company, valued at approximately $5,662,182.48. The trade was a 18.30% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 266,937 shares of company stock worth $59,316,578 in the last three months. 20.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities research analysts recently commented on the company. Cowen reiterated a “buy” rating on shares of Workday in a research report on Wednesday, November 26th. Sanford C. Bernstein reduced their price objective on Workday from $304.00 to $298.00 and set an “outperform” rating on the stock in a research note on Wednesday, November 26th. Citizens Jmp reiterated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research report on Wednesday, November 26th. Rosenblatt Securities started coverage on shares of Workday in a report on Tuesday, December 2nd. They issued a “neutral” rating and a $235.00 target price for the company. Finally, Zacks Research downgraded shares of Workday from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Two analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $282.22.

Workday Stock Performance

NASDAQ:WDAY opened at $220.70 on Monday. The firm has a market capitalization of $58.04 billion, a PE ratio of 92.73, a PEG ratio of 2.49 and a beta of 1.15. The stock’s fifty day moving average is $225.39 and its 200 day moving average is $230.37. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $283.68. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter in the previous year, the business posted $1.89 earnings per share. The business’s revenue was up 12.6% compared to the same quarter last year. On average, sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

About Workday

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.