Workday, Inc. $WDAY Holdings Decreased by Madison Asset Management LLC

Madison Asset Management LLC lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 5.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 87,781 shares of the software maker’s stock after selling 5,339 shares during the quarter. Madison Asset Management LLC’s holdings in Workday were worth $11,405,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Rakuten Securities Inc. acquired a new stake in shares of Workday in the 2nd quarter worth approximately $25,000. Measured Wealth Private Client Group LLC acquired a new position in shares of Workday during the third quarter valued at approximately $26,000. JPL Wealth Management LLC acquired a new position in shares of Workday during the third quarter valued at approximately $30,000. DT Investment Partners LLC bought a new stake in Workday during the fourth quarter worth approximately $27,000. Finally, LRI Investments LLC bought a new stake in Workday during the fourth quarter worth approximately $29,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, insider Robert Enslin sold 5,374 shares of the stock in a transaction on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total value of $724,952.60. Following the completion of the transaction, the insider owned 239,469 shares in the company, valued at $32,304,368.10. This trade represents a 2.19% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total value of $862,200.00. Following the completion of the transaction, the chief financial officer directly owned 288,460 shares in the company, valued at $41,451,702. This represents a 2.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold 875,020 shares of company stock worth $113,938,503 in the last three months. 18.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on the company. CLSA initiated coverage on Workday in a research note on Monday. They set an “underperform” rating and a $92.00 price target for the company. Jefferies Financial Group boosted their price objective on Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a research note on Friday, May 22nd. BMO Capital Markets restated an “outperform” rating on shares of Workday in a report on Friday, May 22nd. The Goldman Sachs Group decreased their target price on Workday from $206.00 to $151.00 and set a “neutral” rating for the company in a research note on Tuesday, May 26th. Finally, Bank of America initiated coverage on Workday in a research note on Wednesday, May 27th. They set a “neutral” rating and a $140.00 target price for the company. One investment analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $179.80.

Workday Trading Down 4.1%

Workday stock opened at $141.17 on Wednesday. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The firm has a market cap of $34.87 billion, a price-to-earnings ratio of 44.12, a price-to-earnings-growth ratio of 1.57 and a beta of 1.11. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The firm’s 50 day moving average price is $132.42 and its two-hundred day moving average price is $143.01.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.23 EPS. On average, research analysts predict that Workday, Inc. will post 5.35 EPS 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.