Allspring Global Investments Holdings LLC Lowers Holdings in Workday, Inc. $WDAY

Allspring Global Investments Holdings LLC decreased its position in Workday, Inc. (NASDAQ:WDAY) by 92.2% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 9,990 shares of the software maker’s stock after selling 117,850 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Workday were worth $1,289,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC increased its position in shares of Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after acquiring an additional 2,792 shares in the last quarter. Empowered Funds LLC raised its stake in shares of Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after purchasing an additional 1,206 shares during the last quarter. Geneos Wealth Management Inc. lifted its holdings in shares of Workday by 211.7% during the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after purchasing an additional 127 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Workday during the second quarter valued at $281,000. Finally, NewEdge Advisors LLC boosted its position in shares of Workday by 32.0% during the second quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock valued at $1,583,000 after buying an additional 1,600 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on WDAY shares. Royal Bank Of Canada reiterated an “outperform” rating on shares of Workday in a report on Friday, May 22nd. The Goldman Sachs Group dropped their price target on shares of Workday from $206.00 to $151.00 and set a “neutral” rating on the stock in a report on Tuesday, May 26th. Morgan Stanley lowered shares of Workday from an “equal weight” rating to an “underweight” rating and reduced their price target for the stock from $185.00 to $145.00 in a research note on Tuesday, July 21st. Monness Crespi & Hardt raised shares of Workday from a “neutral” rating to a “buy” rating and set a $150.00 price objective for the company in a report on Thursday, June 25th. Finally, Wells Fargo & Company increased their price objective on shares of Workday from $180.00 to $185.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $179.80.

Workday Price Performance

WDAY stock opened at $135.34 on Monday. The company has a market cap of $33.43 billion, a price-to-earnings ratio of 42.29, a P/E/G ratio of 1.44 and a beta of 1.11. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The business’s 50-day moving average is $133.13 and its two-hundred day moving average is $141.37. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85.

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

Insider Activity at Workday

In other news, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the transaction, the insider owned 239,469 shares in the company, valued at $32,304,368.10. This trade represents a 2.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the sale, the chief financial officer directly owned 288,460 shares of the company’s stock, valued at approximately $41,451,702. The trade was a 2.04% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Insiders sold a total of 875,020 shares of company stock valued at $113,938,503 in the last three months. Corporate insiders own 18.64% of the company’s stock.

Workday 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.