Workday, Inc. $WDAY Holdings Decreased by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company reduced its holdings in Workday, Inc. (NASDAQ:WDAY) by 30.0% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,941,189 shares of the software maker’s stock after selling 831,480 shares during the period. The Manufacturers Life Insurance Company owned about 0.76% of Workday worth $252,199,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently bought and sold shares of the business. Rakuten Securities Inc. purchased a new stake in shares of Workday in the second quarter worth approximately $25,000. Measured Wealth Private Client Group LLC purchased a new position in Workday during the third quarter valued at approximately $26,000. DT Investment Partners LLC purchased a new position in Workday during the fourth quarter valued at approximately $27,000. LRI Investments LLC acquired a new position in Workday in the 4th quarter valued at approximately $29,000. Finally, JPL Wealth Management LLC acquired a new position in Workday in the 3rd quarter valued at approximately $30,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Up 9.0%

Workday stock opened at $147.54 on Tuesday. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85. The company’s fifty day moving average price is $133.51 and its two-hundred day moving average price is $140.92. 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 company has a market capitalization of $36.44 billion, a price-to-earnings ratio of 46.11, a PEG ratio of 1.44 and a beta of 1.11.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.23 earnings per share. On average, analysts forecast that Workday, Inc. will post 5.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

WDAY has been the subject of a number of research reports. Needham & Company LLC decreased their target price on shares of Workday from $300.00 to $180.00 and set a “buy” rating for the company in a research note on Friday, May 22nd. DA Davidson set a $135.00 price target on shares of Workday in a research note on Tuesday, May 26th. Cantor Fitzgerald reiterated an “overweight” rating on shares of Workday in a report on Wednesday, June 17th. Weiss Ratings reissued a “sell (d+)” rating on shares of Workday in a research report on Wednesday, June 17th. Finally, Wolfe Research restated an “outperform” rating and issued a $160.00 target price on shares of Workday in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $179.80.

Insider Activity at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred on Tuesday, July 7th. The stock was 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 ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at 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 Robert Enslin sold 5,374 shares of Workday stock in a transaction on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction 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 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 ninety days, insiders have sold 875,020 shares of company stock valued at $113,938,503. Corporate insiders own 18.64% of the company’s stock.

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.