Workday, Inc. $WDAY Stake Cut by Bank of New York Mellon Corp

Bank of New York Mellon Corp lessened its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 3.2% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,344,923 shares of the software maker’s stock after selling 44,383 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.50% of Workday worth $323,763,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Verdence Capital Advisors LLC grew its position in Workday by 1.0% during the second quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock valued at $1,051,000 after purchasing an additional 45 shares in the last quarter. Perennial Investment Advisors LLC grew its holdings in shares of Workday by 2.8% during 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 in the last quarter. Johnson Investment Counsel Inc. grew its holdings in shares of Workday by 2.3% during the 2nd quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock valued at $528,000 after acquiring an additional 49 shares in the last quarter. Bay Harbor Wealth Management LLC increased its stake in shares of Workday by 12.0% in the third quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock worth $110,000 after acquiring an additional 49 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its holdings in shares of Workday by 1.2% during the third quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock worth $994,000 after acquiring an additional 49 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Down 7.6%

Workday stock opened at $174.66 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83. Workday, Inc. has a fifty-two week low of $169.01 and a fifty-two week high of $283.68. The firm has a fifty day moving average price of $209.36 and a two-hundred day moving average price of $223.83. The firm has a market cap of $45.94 billion, a price-to-earnings ratio of 73.39, a P/E/G ratio of 2.13 and a beta of 1.14.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $2.42 billion. During the same quarter in the prior year, the company earned $1.89 EPS. The firm’s revenue for the quarter was up 12.6% compared to the same quarter last year. As a group, analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In other news, insider Gerrit S. Kazmaier sold 6,547 shares of Workday stock in a transaction that occurred on Friday, December 19th. The stock was sold at an average price of $218.77, for a total transaction of $1,432,287.19. Following the sale, the insider owned 111,353 shares of the company’s stock, valued at approximately $24,360,695.81. This trade represents a 5.55% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Robert Enslin sold 22,185 shares of the stock in a transaction dated Monday, January 5th. The stock was sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the completion of the transaction, the insider directly owned 106,330 shares of the company’s stock, valued at $22,347,376.10. This trade represents a 17.26% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last 90 days, insiders have sold 370,321 shares of company stock worth $78,866,401. 19.31% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the company. Loop Capital set a $280.00 target price on Workday in a research note on Wednesday, December 10th. Weiss Ratings reiterated a “hold (c)” rating on shares of Workday in a report on Wednesday, October 8th. Citizens Jmp restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Wednesday, November 26th. Stifel Nicolaus cut their price objective on shares of Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a research report on Wednesday, November 26th. Finally, Wells Fargo & Company decreased their target price on shares of Workday from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Two analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and thirteen have assigned a Hold rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $278.09.

Workday Company Profile

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.