ABN Amro Investment Solutions Sells 143,175 Shares of Workday, Inc. $WDAY

ABN Amro Investment Solutions lessened its position in Workday, Inc. (NASDAQ:WDAY) by 93.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 10,289 shares of the software maker’s stock after selling 143,175 shares during the quarter. ABN Amro Investment Solutions’ holdings in Workday were worth $1,337,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Norges Bank bought a new position in shares of Workday in the fourth quarter worth about $448,804,000. Harvest Fund Management Co. Ltd increased its holdings in shares of Workday by 40.1% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock valued at $11,943,000 after purchasing an additional 15,903 shares in the last quarter. Aurora Investment Counsel acquired a new stake in shares of Workday in the fourth quarter valued at approximately $2,357,000. Robeco Institutional Asset Management B.V. raised its position in Workday by 18.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock worth $122,804,000 after purchasing an additional 88,384 shares during the last quarter. Finally, Morningstar Investment Management LLC lifted its holdings in Workday by 127.2% during the 4th quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after buying an additional 15,138 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity at Workday

In related news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the transaction, the chief financial officer directly owned 288,460 shares of the company’s stock, valued at approximately $41,451,702. This trade represents a 2.04% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction dated Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the sale, the insider owned 239,469 shares of the company’s stock, valued at $32,304,368.10. This trade represents a 2.19% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last three months, insiders have sold 875,020 shares of company stock worth $113,938,503. Corporate insiders own 18.64% of the company’s stock.

Workday Stock Up 5.8%

Workday stock opened at $135.34 on Friday. The company’s 50-day moving average price is $133.13 and its two-hundred day moving average price is $141.84. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The stock has a market cap of $33.43 billion, a P/E ratio of 42.29, a P/E/G ratio of 1.36 and a beta of 1.11. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $249.85.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $2.23 earnings per share. As a group, analysts expect that Workday, Inc. will post 5.38 EPS for the current year.

Analysts Set New Price Targets

WDAY has been the subject of a number of recent research reports. Wall Street Zen upgraded Workday from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. DA Davidson set a $135.00 price objective on Workday in a report on Tuesday, May 26th. The Goldman Sachs Group reduced their target price on shares of Workday from $206.00 to $151.00 and set a “neutral” rating on the stock in a research note on Tuesday, May 26th. Cantor Fitzgerald reissued an “overweight” rating on shares of Workday in a research note on Wednesday, June 17th. Finally, Wolfe Research reaffirmed an “outperform” rating and issued a $160.00 price objective on shares of Workday in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.80.

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.