Machina Capital S.A.S. Cuts Stock Position in Workday, Inc. (NASDAQ:WDAY)

Machina Capital S.A.S. decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 17.0% during the first quarter, HoldingsChannel reports. The institutional investor owned 983 shares of the software maker’s stock after selling 202 shares during the period. Machina Capital S.A.S.’s holdings in Workday were worth $230,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WDAY. Cornerstone Planning Group LLC raised its position in Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock worth $28,000 after acquiring an additional 54 shares during the period. Farmers & Merchants Investments Inc. acquired a new position in shares of Workday during the 1st quarter worth about $32,000. Financial Management Professionals Inc. lifted its stake in Workday by 54.0% in the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock valued at $36,000 after buying an additional 54 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new stake in Workday in the 1st quarter worth about $40,000. Finally, BankPlus Trust Department purchased a new stake in Workday during the 1st quarter worth approximately $40,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

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 8th. The shares were sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the sale, the chief financial officer directly owned 178,418 shares in the company, valued at $42,747,168.62. This represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 72,551 shares of the firm’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $239.61, for a total transaction of $17,383,945.11. Following the completion of the transaction, the insider directly owned 102,997 shares of the company’s stock, valued at $24,679,111.17. This represents a 41.33% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 329,005 shares of company stock valued at $79,203,523. 19.31% of the stock is owned by company insiders.

Workday Trading Up 1.9%

WDAY opened at $241.74 on Friday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33. The business has a fifty day simple moving average of $242.57 and a 200-day simple moving average of $246.73. The firm has a market cap of $64.54 billion, a P/E ratio of 133.56, a P/E/G ratio of 3.59 and a beta of 1.21.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the company earned $1.74 EPS. Workday’s revenue was up 12.6% on a year-over-year basis. On average, equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

WDAY has been the topic of several research reports. Piper Sandler restated an “underweight” rating and issued a $235.00 target price (down previously from $255.00) on shares of Workday in a research report on Thursday, July 10th. Loop Capital decreased their price objective on Workday from $285.00 to $250.00 and set a “hold” rating on the stock in a report on Friday, May 23rd. Mizuho dropped their target price on shares of Workday from $320.00 to $275.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Westpark Capital raised their price target on shares of Workday from $315.00 to $328.00 and gave the stock a “buy” rating in a research note on Friday, May 23rd. Finally, Citigroup lowered shares of Workday from a “neutral” rating to a “mixed” rating in a research report on Friday, May 16th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $296.88.

Workday Profile

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.