iA Global Asset Management Inc. Sells 22,359 Shares of Workday, Inc. $WDAY

iA Global Asset Management Inc. cut its holdings in Workday, Inc. (NASDAQ:WDAY) by 41.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,121 shares of the software maker’s stock after selling 22,359 shares during the quarter. iA Global Asset Management Inc.’s holdings in Workday were worth $7,732,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Rakuten Securities Inc. purchased a new stake in Workday in the second quarter worth about $25,000. Berbice Capital Management LLC boosted its position in shares of Workday by 136.4% in the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock worth $31,000 after purchasing an additional 75 shares in the last quarter. Golden State Wealth Management LLC grew its stake in shares of Workday by 2,216.7% in the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock worth $33,000 after buying an additional 133 shares during the last quarter. Root Financial Partners LLC bought a new position in Workday during the 3rd quarter valued at approximately $40,000. Finally, Twin Peaks Wealth Advisors LLC purchased a new position in Workday during the second quarter valued at $41,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 82,884 shares of the stock in a transaction that occurred on Thursday, January 8th. The shares were sold at an average price of $209.75, for a total value of $17,384,919.00. Following the transaction, the insider owned 105,049 shares in the company, valued at $22,034,027.75. This represents a 44.10% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the sale, the chief financial officer owned 159,158 shares of the company’s stock, valued at $33,224,232.50. This trade represents a 3.63% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 370,321 shares of company stock valued at $78,866,401 in the last 90 days. Insiders own 19.31% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $189.26 on Friday. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34. The company has a 50 day moving average price of $212.32 and a 200-day moving average price of $225.15. Workday, Inc. has a 52 week low of $180.56 and a 52 week high of $283.68. The firm has a market capitalization of $49.78 billion, a PE ratio of 79.52, a P/E/G ratio of 2.12 and a beta of 1.14.

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

Analyst Ratings Changes

A number of equities research analysts have recently commented on the company. The Goldman Sachs Group started coverage on Workday in a research note on Monday, January 12th. They issued a “neutral” rating and a $238.00 target price on the stock. JPMorgan Chase & Co. cut their price objective on shares of Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Sanford C. Bernstein reduced their price objective on shares of Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a research note on Wednesday, November 26th. Cantor Fitzgerald reaffirmed an “overweight” rating on shares of Workday in a report on Wednesday, November 26th. Finally, Citizens Jmp reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and thirteen have issued a Hold rating to the stock. According to data from MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus target price of $278.09.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.