Workday, Inc. (NASDAQ:WDAY) Holdings Decreased by ProShare Advisors LLC

ProShare Advisors LLC trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 10.4% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 184,397 shares of the software maker’s stock after selling 21,371 shares during the period. ProShare Advisors LLC owned approximately 0.07% of Workday worth $41,224,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also recently bought and sold shares of WDAY. Van ECK Associates Corp lifted its position 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 worth $208,068,000 after purchasing an additional 925,366 shares in the last quarter. Vanguard Group Inc. lifted its position in Workday by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock worth $3,988,549,000 after buying an additional 437,215 shares in the last quarter. Kodai Capital Management LP acquired a new stake in shares of Workday during the 4th quarter valued at $85,994,000. Sustainable Growth Advisers LP boosted its stake in shares of Workday by 9.7% during 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. Finally, Clearbridge Investments LLC grew its holdings in shares of Workday by 12.4% during the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock valued at $693,382,000 after acquiring an additional 281,207 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction on Monday, July 8th. The shares were 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 owns 92,014 shares in the company, valued at approximately $20,856,813.38. The sale was disclosed in a filing with the SEC, which is available at this link. In other news, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction that occurred 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 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 SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, June 28th. The stock was sold at an average price of $223.80, for a total value of $12,532,800.00. Following the transaction, the insider now owns 674,000 shares of the company’s stock, valued at approximately $150,841,200. The disclosure for this sale can be found here. Insiders have sold 467,402 shares of company stock worth $109,864,184 over the last 90 days. Corporate insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of Workday stock opened at $248.29 on Monday. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a fifty day moving average price of $237.48 and a two-hundred day moving average price of $241.95. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company 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 (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The company 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 company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter last year, the company earned $0.40 EPS. Analysts expect that Workday, Inc. will post 2.39 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently issued reports on WDAY. Guggenheim reissued a “sell” rating and set a $190.00 price objective on shares of Workday in a research report on Tuesday, June 25th. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research note on Friday, September 13th. The Goldman Sachs Group boosted their price target on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday. Evercore ISI cut their price objective on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Finally, Needham & Company LLC decreased their target price on shares of Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $286.48.

Workday Company 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.