Workday, Inc. (NASDAQ:WDAY) Shares Sold by Global Retirement Partners LLC

Global Retirement Partners LLC trimmed its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 4.3% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,726 shares of the software maker’s stock after selling 77 shares during the quarter. Global Retirement Partners LLC’s holdings in Workday were worth $422,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also modified their holdings of the business. Vanguard Group Inc. lifted its holdings in shares of Workday by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after buying an additional 324,540 shares during the period. Sustainable Growth Advisers LP lifted its holdings 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 buying an additional 301,463 shares during the period. Clearbridge Investments LLC lifted its holdings in shares of Workday by 12.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after buying an additional 281,207 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in shares of Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after buying an additional 1,016,394 shares during the period. Finally, Legal & General Group Plc lifted its holdings in shares of Workday by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after buying an additional 118,180 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several analysts have recently commented on WDAY shares. Morgan Stanley reduced their price target on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Guggenheim reaffirmed a “sell” rating and issued a $190.00 price objective on shares of Workday in a research note on Tuesday, June 25th. The Goldman Sachs Group raised their price objective on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. KeyCorp raised their price objective on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Finally, Needham & Company LLC dropped their price objective on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus price target of $287.04.

Insider Activity at Workday

In related news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now owns 85,795 shares in the company, valued at approximately $20,228,745.10. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares in the company, valued at $26,902,816.40. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now owns 85,795 shares in the company, valued at approximately $20,228,745.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is owned by insiders.

Workday Price Performance

Shares of Workday stock opened at $243.75 on Tuesday. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The stock has a market capitalization of $64.59 billion, a P/E ratio of 43.92, a PEG ratio of 4.85 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. The business’s fifty day moving average price is $245.87 and its 200 day moving average price is $237.61.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter last year, the firm earned $0.40 earnings per share. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, research analysts anticipate that Workday, Inc. will post 2.4 earnings per share for the current year.

About Workday

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.