Kayne Anderson Rudnick Investment Management LLC Sells 8,584 Shares of Workday, Inc. (NASDAQ:WDAY)

Kayne Anderson Rudnick Investment Management LLC lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 4.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 180,585 shares of the software maker’s stock after selling 8,584 shares during the period. Kayne Anderson Rudnick Investment Management LLC owned 0.07% of Workday worth $40,372,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in WDAY. Van ECK Associates Corp increased its position in shares of Workday by 17,345.2% during the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after buying an additional 925,366 shares during the period. Vanguard Group Inc. grew its holdings in shares of Workday by 3.1% during the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after acquiring an additional 437,215 shares during the period. Kodai Capital Management LP bought a new position in shares of Workday in the 4th quarter worth approximately $85,994,000. Sustainable Growth Advisers LP lifted its stake in shares of Workday by 9.7% in the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after purchasing an additional 301,463 shares during the period. Finally, Clearbridge Investments LLC boosted its position in shares of Workday by 12.4% during the first quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after purchasing an additional 281,207 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the sale, the director now directly owns 97,500 shares in the company, valued at $25,381,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the transaction, the director now owns 97,500 shares in the company, valued at approximately $25,381,200. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.29, for a total transaction of $812,365.09. Following the sale, the insider now directly owns 196,344 shares of the company’s stock, valued at approximately $51,106,379.76. The disclosure for this sale can be found here. Insiders have sold 467,402 shares of company stock worth $109,864,184 in the last quarter. Company insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of WDAY opened at $248.29 on Friday. The firm has a fifty day simple moving average of $237.48 and a two-hundred day simple moving average of $242.12. The firm has a market cap of $65.80 billion, a PE ratio of 44.74, a P/E/G ratio of 5.07 and a beta of 1.35. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. Workday’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.40 earnings per share. On average, equities analysts anticipate that Workday, Inc. will post 2.39 EPS for the current year.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of research reports. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Thursday. Evercore ISI lowered their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Barclays boosted their price objective on shares of Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Piper Sandler reaffirmed an “overweight” rating and set a $285.00 target price on shares of Workday in a research note on Wednesday. Finally, KeyCorp boosted their price target on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $286.48.

Workday Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.