Nisa Investment Advisors LLC Lowers Holdings in Workday, Inc. $WDAY

Nisa Investment Advisors LLC reduced its position in shares of Workday, Inc. (NASDAQ:WDAY) by 34.4% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 18,027 shares of the software maker’s stock after selling 9,461 shares during the period. Nisa Investment Advisors LLC’s holdings in Workday were worth $4,340,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. AlphaQuest LLC lifted its stake in Workday by 636.7% in the second quarter. AlphaQuest LLC now owns 1,886 shares of the software maker’s stock worth $453,000 after purchasing an additional 1,630 shares during the last quarter. Norges Bank purchased a new position in shares of Workday in the second quarter worth about $442,702,000. Chicago Capital LLC lifted its stake in shares of Workday by 2.2% in the 2nd quarter. Chicago Capital LLC now owns 175,802 shares of the software maker’s stock valued at $42,193,000 after acquiring an additional 3,824 shares during the last quarter. Robeco Institutional Asset Management B.V. boosted its holdings in Workday by 16.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 483,382 shares of the software maker’s stock valued at $116,365,000 after acquiring an additional 67,125 shares during the period. Finally, Stance Capital LLC bought a new position in Workday during the 2nd quarter worth approximately $1,276,000. Institutional investors own 89.81% of the company’s stock.

Insider Activity

In other news, major shareholder David A. Duffield sold 82,884 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $209.75, for a total value of $17,384,919.00. Following the completion of the transaction, the insider owned 105,049 shares of the company’s stock, valued at approximately $22,034,027.75. This represents a 44.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Gerrit S. Kazmaier sold 6,547 shares of Workday stock in a transaction that occurred on Friday, December 19th. The shares were sold at an average price of $218.77, for a total value of $1,432,287.19. Following the sale, the insider owned 111,353 shares in the company, valued at $24,360,695.81. This represents a 5.55% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 370,321 shares of company stock worth $78,866,401. Company insiders own 20.00% of the company’s stock.

Workday Trading Down 1.2%

NASDAQ:WDAY opened at $207.18 on Monday. The company has a 50-day moving average price of $219.85 and a 200-day moving average price of $228.35. The stock has a market cap of $54.49 billion, a price-to-earnings ratio of 87.05, a P/E/G ratio of 2.34 and a beta of 1.14. 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, Inc. has a 12 month low of $202.22 and a 12 month high of $283.68.

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 the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The company 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 company earned $1.89 earnings per share. Workday’s quarterly revenue was up 12.6% on a year-over-year basis. Equities analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Ratings Changes

WDAY has been the subject of several recent research reports. Evercore ISI boosted their price objective on Workday from $275.00 to $300.00 and gave the company an “outperform” rating in a research report on Wednesday, September 17th. Loop Capital set a $280.00 target price on shares of Workday in a research note on Wednesday, December 10th. Macquarie reissued a “buy” rating on shares of Workday in a report on Wednesday, November 26th. Rosenblatt Securities initiated coverage on shares of Workday in a research note on Tuesday, December 2nd. They set a “neutral” rating and a $235.00 price objective for the company. Finally, Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have given a Buy rating and twelve have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $278.25.

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.