Clarkston Capital Partners LLC Cuts Stock Position in Workday, Inc. $WDAY

Clarkston Capital Partners LLC trimmed its holdings in Workday, Inc. (NASDAQ:WDAY) by 61.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,850 shares of the software maker’s stock after selling 21,715 shares during the period. Clarkston Capital Partners LLC’s holdings in Workday were worth $1,799,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in WDAY. Vanguard Group Inc. raised its stake in Workday by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock valued at $5,371,495,000 after purchasing an additional 3,210,232 shares during the period. Auto Owners Insurance Co grew its holdings in Workday by 25,412.8% during the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock valued at $2,197,332,000 after buying an additional 10,190,516 shares in the last quarter. State Street Corp raised its position in shares of Workday by 1.0% during the fourth quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock valued at $2,098,552,000 after buying an additional 96,139 shares during the last quarter. Hotchkis & Wiley Capital Management LLC raised its position in shares of Workday by 47.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock valued at $1,406,463,000 after buying an additional 1,882,391 shares during the last quarter. Finally, Geode Capital Management LLC lifted its holdings in shares of Workday by 1.5% in the fourth quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock worth $1,089,970,000 after buying an additional 75,922 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Trading Down 3.4%

Shares of WDAY stock opened at $127.87 on Friday. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s 50 day simple moving average is $132.93 and its two-hundred day simple moving average is $141.88. The company has a market cap of $31.58 billion, a PE ratio of 39.96, a price-to-earnings-growth ratio of 1.40 and a beta of 1.11.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.51 by $0.15. The business had revenue of $2.54 billion during the quarter, compared to analyst estimates of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the company earned $2.23 EPS. Research analysts predict that Workday, Inc. will post 5.41 earnings per share for the current year.

Analyst Ratings Changes

A number of brokerages recently weighed in on WDAY. Sanford C. Bernstein restated an “outperform” rating and set a $216.00 target price on shares of Workday in a research report on Friday, May 22nd. Monness Crespi & Hardt upgraded shares of Workday from a “neutral” rating to a “buy” rating and set a $150.00 price target on the stock in a report on Thursday, June 25th. Weiss Ratings reiterated a “sell (d+)” rating on shares of Workday in a research note on Wednesday, June 17th. Citigroup reissued a “market perform” rating on shares of Workday in a report on Friday, May 22nd. Finally, HC Wainwright set a $140.00 price objective on Workday in a research report on Wednesday, May 27th. One research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have issued a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $179.80.

Insider Buying and Selling

In other Workday news, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the transaction, the insider directly owned 239,469 shares of the company’s stock, valued at $32,304,368.10. The trade was a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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 the business’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the transaction, the chief financial officer owned 288,460 shares in the company, valued at $41,451,702. This trade represents a 2.04% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 sold 875,020 shares of company stock valued at $113,938,503 over the last 90 days. 18.64% of the stock is currently owned by insiders.

Workday Profile

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.