Workday, Inc. (NASDAQ:WDAY) Shares Sold by MQS Management LLC

MQS Management LLC decreased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 24.1% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,028 shares of the software maker’s stock after selling 326 shares during the period. MQS Management LLC’s holdings in Workday were worth $251,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDAY. The Manufacturers Life Insurance Company increased its holdings in shares of Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after acquiring an additional 1,016,394 shares during the period. Van ECK Associates Corp grew its position in Workday by 17,345.2% during the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after purchasing an additional 925,366 shares during the last quarter. Vanguard Group Inc. raised its holdings in shares of Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after buying an additional 324,540 shares during the last quarter. D1 Capital Partners L.P. boosted its stake in shares of Workday by 152.1% during the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after buying an additional 312,500 shares during the period. Finally, Lindbrook Capital LLC grew its holdings in shares of Workday by 17,001.6% during the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock worth $703,000 after buying an additional 284,266 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now owns 85,795 shares in the company, valued at approximately $20,228,745.10. This trade represents a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now directly owns 8,674 shares of the company’s stock, valued at $2,097,806.90. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is currently owned by company insiders.

Workday Stock Down 1.8 %

WDAY opened at $271.49 on Friday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The business has a 50-day moving average of $246.33 and a two-hundred day moving average of $236.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The stock has a market capitalization of $71.94 billion, a price-to-earnings ratio of 47.30, a price-to-earnings-growth ratio of 5.49 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. Workday’s revenue was up 16.5% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 earnings per share. On average, research analysts expect that Workday, Inc. will post 2.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have weighed in on the company. Needham & Company LLC decreased their price objective on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Morgan Stanley lowered their price objective on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. JMP Securities restated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. KeyCorp boosted their price target on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Bank of America lifted their price objective on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $287.59.

About Workday

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.