Renaissance Technologies LLC Sells 68,300 Shares of Workday, Inc. (NASDAQ:WDAY)

Renaissance Technologies LLC lessened its stake in Workday, Inc. (NASDAQ:WDAY) by 43.7% during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 87,900 shares of the software maker’s stock after selling 68,300 shares during the quarter. Renaissance Technologies LLC’s holdings in Workday were worth $19,651,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of WDAY. Van ECK Associates Corp lifted its holdings in shares of Workday by 17,345.2% in the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after purchasing an additional 925,366 shares in the last quarter. Vanguard Group Inc. lifted its holdings in shares of Workday by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock valued at $3,988,549,000 after purchasing an additional 437,215 shares in the last quarter. Kodai Capital Management LP bought a new position in shares of Workday in the fourth quarter valued at approximately $85,994,000. Sustainable Growth Advisers LP lifted its holdings in shares of Workday by 9.7% in the first 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 in the last quarter. Finally, Clearbridge Investments LLC lifted its holdings in shares of Workday by 12.4% in 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. Institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $248.29 on Friday. The stock has a market cap of $65.80 billion, a PE ratio of 44.74, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The stock has a fifty day moving average of $237.48 and a 200-day moving average of $242.30.

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

Insider Buying and Selling

In related 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 completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. The transaction was disclosed in a document filed with the SEC, which is available through this link. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Friday, June 28th. The stock was sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the completion of the sale, the insider now owns 674,000 shares of the company’s stock, valued at $150,841,200. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The disclosure for this sale can be found here. Insiders sold a total of 467,402 shares of company stock worth $109,864,184 over the last ninety days. 20.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

WDAY has been the topic of a number of recent research reports. Barclays raised their target price on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Citigroup dropped their price target on Workday from $293.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Jefferies Financial Group dropped their price target on Workday from $350.00 to $330.00 and set a “buy” rating on the stock in a report on Friday, May 24th. JMP Securities reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday. Finally, KeyCorp lifted their price target on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price 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.