Workday, Inc. $WDAY Stock Holdings Lessened by Advent International L.P.

Advent International L.P. lessened its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 66.8% in the first quarter, according to its most recent filing with the SEC. The fund owned 88,480 shares of the software maker’s stock after selling 178,395 shares during the period. Workday comprises about 0.3% of Advent International L.P.’s portfolio, making the stock its 22nd largest holding. Advent International L.P.’s holdings in Workday were worth $11,495,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of WDAY. Rakuten Securities Inc. acquired a new position in shares of Workday in the 2nd quarter worth $25,000. Measured Wealth Private Client Group LLC purchased a new stake in shares of Workday during the third quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in shares of Workday in the 3rd quarter valued at $30,000. DT Investment Partners LLC acquired a new position in shares of Workday in the 4th quarter valued at $27,000. Finally, LRI Investments LLC purchased a new position in Workday in the 4th quarter worth about $29,000. 89.81% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $136.74, for a total value of $14,699,550.00. Following the transaction, the insider owned 105,049 shares in the company, valued at approximately $14,364,400.26. This represents a 50.58% decrease in their position. The transaction was disclosed in a 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. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the completion of the sale, the chief financial officer 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. 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. Insiders sold 875,020 shares of company stock valued at $113,938,503 over the last ninety days. Insiders own 18.64% of the company’s stock.

Workday Stock Up 9.0%

Shares of Workday stock opened at $147.54 on Tuesday. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The company has a market cap of $36.44 billion, a P/E ratio of 46.11, a P/E/G ratio of 1.44 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The stock has a 50-day moving average price of $133.51 and a 200 day moving average price of $140.92.

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

Analysts Set New Price Targets

Several analysts have issued reports on WDAY shares. DA Davidson set a $135.00 price objective on Workday in a report on Tuesday, May 26th. BMO Capital Markets reiterated an “outperform” rating on shares of Workday in a report on Friday, May 22nd. Royal Bank Of Canada reissued an “outperform” rating on shares of Workday in a research report on Friday, May 22nd. Weiss Ratings restated a “sell (d+)” rating on shares of Workday in a report on Wednesday, June 17th. Finally, Needham & Company LLC reduced their price target on shares of Workday from $300.00 to $180.00 and set a “buy” rating for the company in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.