Hyperion Asset Management Ltd Lowers Stock Holdings in Workday, Inc. $WDAY

Hyperion Asset Management Ltd decreased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 14.4% during the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 123,624 shares of the software maker’s stock after selling 20,771 shares during the quarter. Workday makes up 0.7% of Hyperion Asset Management Ltd’s holdings, making the stock its 18th largest holding. Hyperion Asset Management Ltd’s holdings in Workday were worth $26,552,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WDAY. Rakuten Securities Inc. purchased a new position in shares of Workday during the 2nd quarter valued at $25,000. Measured Wealth Private Client Group LLC purchased a new position in shares of Workday during the 3rd quarter valued at $26,000. DT Investment Partners LLC purchased a new position in shares of Workday during the 4th quarter valued at $27,000. LRI Investments LLC purchased a new position in shares of Workday during the 4th quarter valued at $29,000. Finally, JPL Wealth Management LLC purchased a new position in shares of Workday during the 3rd quarter valued at $30,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Down 3.9%

Shares of WDAY stock opened at $121.83 on Thursday. The stock has a market cap of $30.09 billion, a P/E ratio of 38.07, a PEG ratio of 1.34 and a beta of 1.09. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $249.85. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The company’s fifty day simple moving average is $127.78 and its two-hundred day simple moving average is $157.53.

Workday (NASDAQ:WDAY) last announced its earnings results 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 firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business’s revenue was up 13.5% compared to the same quarter last year. During the same period in the prior year, the company earned $2.23 EPS. Analysts predict that Workday, Inc. will post 5.4 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on the stock. Oppenheimer restated an “outperform” rating on shares of Workday in a research note on Thursday, June 11th. KeyCorp boosted their price target on shares of Workday from $155.00 to $158.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Morgan Stanley decreased their price target on shares of Workday from $280.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Monday, February 23rd. Wells Fargo & Company boosted their price target on shares of Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Finally, BMO Capital Markets reiterated an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $185.03.

Insider Activity

In other news, insider Robert Enslin sold 5,373 shares of the company’s stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $129.41, for a total transaction of $695,319.93. Following the sale, the insider directly owned 165,414 shares in the company, valued at approximately $21,406,225.74. This represents a 3.15% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, 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, insider Gerrit S. Kazmaier sold 9,356 shares of the company’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the sale, the insider owned 165,074 shares in the company, valued at $21,193,850.86. This represents a 5.36% decrease in their ownership of the stock. 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. In the last three months, insiders sold 774,814 shares of company stock worth $102,272,866. 18.64% of the stock is 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.