Ensign Peak Advisors Inc Decreases Stake in Workday, Inc. (NASDAQ:WDAY)

Ensign Peak Advisors Inc lessened its stake in Workday, Inc. (NASDAQ:WDAY) by 37.8% in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 293,851 shares of the software maker’s stock after selling 178,414 shares during the quarter. Ensign Peak Advisors Inc owned 0.11% of Workday worth $65,693,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Crewe Advisors LLC acquired a new stake in shares of Workday during the 1st quarter valued at approximately $27,000. Sound Income Strategies LLC boosted its position in shares of Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares in the last quarter. SouthState Corp boosted its position in shares of Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares in the last quarter. Asset Dedication LLC purchased a new stake in shares of Workday in the 2nd quarter worth about $36,000. Finally, PSI Advisors LLC purchased a new stake in shares of Workday in the 2nd quarter worth about $38,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity

In other news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction that occurred on 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 approximately $26,902,816.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. In other news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction that occurred on 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 approximately $26,902,816.40. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction that occurred on Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The disclosure for this sale can be found here. In the last three months, insiders sold 467,402 shares of company stock worth $109,864,184. 20.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Evercore ISI dropped their price objective on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Stifel Nicolaus upped their price objective on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley dropped their price objective on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Finally, Loop Capital increased their target price on shares of Workday from $240.00 to $255.00 and gave the stock a “hold” 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. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $286.48.

Workday Stock Up 0.3 %

Shares of NASDAQ:WDAY opened at $248.29 on Friday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The company has a 50 day moving average of $237.48 and a two-hundred day moving average of $242.12. The company has a market capitalization of $65.80 billion, a price-to-earnings ratio of 44.74, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate 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%. The business’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 EPS. As a group, analysts forecast that Workday, Inc. will post 2.39 earnings per share for the current fiscal year.

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.