Marshall Wace LLP Has $171.99 Million Stake in Workday, Inc. (NASDAQ:WDAY)

Marshall Wace LLP reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 2.2% in the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 769,318 shares of the software maker’s stock after selling 17,630 shares during the quarter. Marshall Wace LLP owned 0.29% of Workday worth $171,989,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of WDAY. Crewe Advisors LLC acquired a new stake in shares of Workday in the first quarter valued at $27,000. Sound Income Strategies LLC boosted its holdings in Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the last quarter. SouthState Corp boosted its holdings in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the last quarter. Asset Dedication LLC bought a new position in Workday during the second quarter worth about $36,000. Finally, PSI Advisors LLC bought a new position in Workday during the second quarter worth about $38,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $245.03 on Tuesday. 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 12 month low of $199.81 and a 12 month high of $311.28. The stock has a 50 day moving average of $237.73 and a 200-day moving average of $241.81. The company has a market capitalization of $64.93 billion, a P/E ratio of 44.15, a P/E/G ratio of 5.07 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.10. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s quarterly revenue was up 16.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 EPS. As a group, equities research analysts predict that Workday, Inc. will post 2.39 EPS for the current year.

Insider Activity at Workday

In related news, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $226.67, for a total value of $710,383.78. Following the completion of the sale, the insider now directly owns 92,014 shares in the company, valued at approximately $20,856,813.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other Workday news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction on Monday, July 8th. The stock was sold at an average price of $226.67, for a total value of $710,383.78. Following the completion of the transaction, the insider now directly owns 92,014 shares of the company’s stock, valued at approximately $20,856,813.38. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Friday, June 28th. The shares were sold at an average price of $223.80, for a total value of $12,532,800.00. Following the completion of the transaction, the insider now directly owns 674,000 shares of the company’s stock, valued at $150,841,200. The disclosure for this sale can be found here. Insiders sold 467,402 shares of company stock worth $109,864,184 in the last ninety days. 20.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on WDAY shares. Guggenheim restated a “sell” rating and set a $190.00 target price on shares of Workday in a report on Tuesday, June 25th. Deutsche Bank Aktiengesellschaft raised their price target on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Loop Capital raised their price target on Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Barclays raised their price target on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. Finally, Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Friday, September 13th. One 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 company currently has an average 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.