Townsquare Capital LLC Has $410,000 Position in Workday, Inc. $WDAY

Townsquare Capital LLC trimmed its position in Workday, Inc. (NASDAQ:WDAY) by 89.0% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,702 shares of the software maker’s stock after selling 13,798 shares during the period. Townsquare Capital LLC’s holdings in Workday were worth $410,000 at the end of the most recent quarter.

Other institutional investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of Workday by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock valued at $5,067,404,000 after buying an additional 515,529 shares during the period. State Street Corp grew its stake in Workday by 3.3% in the second quarter. State Street Corp now owns 9,600,516 shares of the software maker’s stock valued at $2,304,124,000 after acquiring an additional 303,713 shares during the period. Geode Capital Management LLC increased its holdings in shares of Workday by 2.9% in the second quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock worth $1,183,112,000 after acquiring an additional 140,042 shares in the last quarter. Parnassus Investments LLC raised its position in shares of Workday by 13.1% during the third quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker’s stock worth $774,478,000 after purchasing an additional 371,561 shares during the period. Finally, Invesco Ltd. lifted its holdings in shares of Workday by 10.4% during the 2nd quarter. Invesco Ltd. now owns 2,187,137 shares of the software maker’s stock valued at $524,913,000 after purchasing an additional 205,403 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insiders Place Their Bets

In other news, insider Robert Enslin sold 22,185 shares of the business’s stock in a transaction dated Monday, January 5th. The shares were sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the transaction, the insider directly owned 106,330 shares in the company, valued at $22,347,376.10. The trade was a 17.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 82,884 shares of the firm’s stock in a transaction dated Thursday, January 8th. The shares were sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the completion of the sale, the insider owned 105,049 shares of the company’s stock, valued at $22,034,027.75. This trade represents a 44.10% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 370,321 shares of company stock valued at $78,866,401 in the last ninety days. 19.31% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

A number of research firms recently issued reports on WDAY. Macquarie reissued a “buy” rating on shares of Workday in a research note on Wednesday, November 26th. KeyCorp lowered their price objective on shares of Workday from $285.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Sanford C. Bernstein dropped their price objective on shares of Workday from $304.00 to $298.00 and set an “outperform” rating on the stock in a report on Wednesday, November 26th. Royal Bank Of Canada reduced their target price on shares of Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research note on Monday, January 5th. Finally, Zacks Research downgraded Workday from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have issued a Buy rating and thirteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $278.09.

Workday Price Performance

Shares of NASDAQ WDAY opened at $175.63 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83. The business has a 50-day moving average of $208.37 and a 200-day moving average of $223.48. The stock has a market capitalization of $46.19 billion, a price-to-earnings ratio of 73.79, a PEG ratio of 1.97 and a beta of 1.14. Workday, Inc. has a fifty-two week low of $169.01 and a fifty-two week high of $283.68.

Workday (NASDAQ:WDAY) last released 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 business had revenue of $2.43 billion for the quarter, compared to analyst estimates of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.Workday’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.89 earnings per share. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.