Workday, Inc. $WDAY Shares Sold by Hound Partners LLC

Hound Partners LLC trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY) by 11.7% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 61,915 shares of the software maker’s stock after selling 8,186 shares during the period. Workday makes up 2.0% of Hound Partners LLC’s portfolio, making the stock its 14th biggest position. Hound Partners LLC’s holdings in Workday were worth $14,860,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDAY. Vanguard Group Inc. lifted its stake in shares of Workday by 2.5% in the second quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock worth $5,067,404,000 after acquiring an additional 515,529 shares in the last quarter. State Street Corp increased its holdings in Workday by 3.3% during the 2nd quarter. State Street Corp now owns 9,600,516 shares of the software maker’s stock worth $2,304,124,000 after purchasing an additional 303,713 shares during the last quarter. Geode Capital Management LLC raised its position in shares of Workday by 2.9% in the 2nd quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock valued at $1,183,112,000 after purchasing an additional 140,042 shares in the last quarter. T. Rowe Price Investment Management Inc. boosted its stake in shares of Workday by 47.5% during the 1st quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock valued at $879,147,000 after buying an additional 1,211,659 shares during the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of Workday by 0.4% during the first quarter. The Manufacturers Life Insurance Company now owns 3,736,609 shares of the software maker’s stock worth $872,610,000 after buying an additional 14,354 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at Workday

In other news, insider Richard Harry Sauer sold 2,320 shares of the company’s stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $235.87, for a total value of $547,218.40. Following the transaction, the insider directly owned 90,077 shares of the company’s stock, valued at approximately $21,246,461.99. This represents a 2.51% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction on Tuesday, October 7th. The stock was sold at an average price of $232.62, for a total value of $1,395,720.00. Following the sale, the chief financial officer owned 168,468 shares of the company’s stock, valued at approximately $39,189,026.16. This represents a 3.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 345,798 shares of company stock worth $78,617,754 over the last 90 days. 19.31% of the stock is currently owned by insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on WDAY shares. Evercore ISI upped their price target on shares of Workday from $275.00 to $300.00 and gave the company an “outperform” rating in a report on Wednesday, September 17th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Workday in a research report on Wednesday, November 26th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday, November 26th. TD Cowen reduced their target price on Workday from $290.00 to $280.00 and set a “buy” rating on the stock in a report on Wednesday, November 26th. Finally, Morgan Stanley boosted their price target on Workday from $255.00 to $280.00 and gave the company an “equal weight” rating in a report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and twelve have assigned a Hold rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $282.13.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $224.49 on Friday. The stock’s fifty day simple moving average is $229.02 and its 200 day simple moving average is $232.77. The stock has a market capitalization of $59.04 billion, a price-to-earnings ratio of 94.32, a PEG ratio of 2.55 and a beta of 1.15. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34. Workday, Inc. has a 52-week low of $205.33 and a 52-week high of $283.68.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 25th. The software maker reported $2.32 EPS for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The company had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period last year, the company posted $1.89 earnings per share. The business’s revenue for the quarter was up 12.6% on a year-over-year basis. As a group, sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.