Northwest & Ethical Investments L.P. Trims Stock Position in Workday, Inc. $WDAY

Northwest & Ethical Investments L.P. lessened its position in shares of Workday, Inc. (NASDAQ:WDAY) by 51.0% during the 1st quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 10,356 shares of the software maker’s stock after selling 10,780 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Workday were worth $2,417,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in WDAY. Vanguard Group Inc. increased its holdings in Workday by 2.3% in the 1st quarter. Vanguard Group Inc. now owns 20,598,655 shares of the software maker’s stock valued at $4,810,404,000 after purchasing an additional 455,855 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in Workday by 60.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker’s stock valued at $960,454,000 after purchasing an additional 1,406,088 shares during the last quarter. Brown Advisory Inc. increased its holdings in Workday by 1.5% in the 4th quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker’s stock valued at $911,027,000 after purchasing an additional 52,104 shares during the last quarter. T. Rowe Price Investment Management Inc. acquired a new stake in Workday in the 4th quarter valued at approximately $658,735,000. Finally, Northern Trust Corp increased its holdings in Workday by 51.2% in the 4th quarter. Northern Trust Corp now owns 2,263,981 shares of the software maker’s stock valued at $584,175,000 after purchasing an additional 767,034 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of WDAY opened at $231.85 on Tuesday. The firm has a fifty day moving average price of $234.25 and a 200 day moving average price of $243.40. Workday, Inc. has a 1-year low of $205.33 and a 1-year high of $294.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. The stock has a market cap of $61.90 billion, a PE ratio of 128.09, a price-to-earnings-growth ratio of 3.42 and a beta of 1.24.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating analysts’ consensus estimates of $2.01 by $0.22. Workday had a net margin of 5.60% and a return on equity of 8.00%. The business had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period in the prior year, the company earned $1.74 earnings per share. The business’s revenue was up 12.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the stock. Wall Street Zen upgraded shares of Workday from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. Stifel Nicolaus dropped their target price on shares of Workday from $310.00 to $275.00 and set a “hold” rating for the company in a report on Friday, May 23rd. Piper Sandler restated an “underweight” rating and issued a $235.00 price target (down previously from $255.00) on shares of Workday in a research note on Thursday, July 10th. Guggenheim restated a “neutral” rating on shares of Workday in a research note on Friday, May 23rd. Finally, Oppenheimer dropped their price target on shares of Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have given a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $293.08.

Insiders Place Their Bets

In related news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the sale, the director owned 67,500 shares in the company, valued at $16,767,675. This trade represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief financial officer owned 178,418 shares of the company’s stock, valued at approximately $42,747,168.62. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 329,005 shares of company stock valued at $79,203,523. 19.31% of the stock is owned by insiders.

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.