Jefferies Financial Group Inc. Lowers Stock Holdings in Workday, Inc. $WDAY

Jefferies Financial Group Inc. cut its holdings in Workday, Inc. (NASDAQ:WDAY) by 17.3% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 12,108 shares of the software maker’s stock after selling 2,540 shares during the period. Jefferies Financial Group Inc.’s holdings in Workday were worth $2,906,000 at the end of the most recent reporting period.

Several other hedge funds have also made changes to their positions in the business. Prudential Financial Inc. increased its stake in Workday by 10.8% in the second quarter. Prudential Financial Inc. now owns 123,088 shares of the software maker’s stock valued at $29,541,000 after purchasing an additional 11,960 shares during the last quarter. Coldstream Capital Management Inc. grew its holdings in Workday by 23.4% in the 2nd quarter. Coldstream Capital Management Inc. now owns 4,020 shares of the software maker’s stock valued at $965,000 after buying an additional 763 shares during the period. Vestor Capital LLC grew its holdings in Workday by 293.3% in the 2nd quarter. Vestor Capital LLC now owns 700 shares of the software maker’s stock valued at $168,000 after buying an additional 522 shares during the period. Cynosure Group LLC increased its stake in shares of Workday by 2.6% during the 2nd quarter. Cynosure Group LLC now owns 24,471 shares of the software maker’s stock valued at $5,873,000 after acquiring an additional 626 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in shares of Workday by 2.7% during the 2nd quarter. Charles Schwab Investment Management Inc. now owns 1,481,924 shares of the software maker’s stock valued at $355,662,000 after acquiring an additional 39,661 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently issued reports on the stock. Sanford C. Bernstein reissued an “outperform” rating and issued a $304.00 target price on shares of Workday in a research report on Friday, August 22nd. BMO Capital Markets cut their price target on shares of Workday from $314.00 to $285.00 and set an “outperform” rating on the stock in a research note on Friday, August 22nd. Piper Sandler upgraded shares of Workday from an “underweight” rating to a “neutral” rating and lifted their price target for the company from $220.00 to $235.00 in a report on Wednesday, September 17th. Wells Fargo & Company lowered their price objective on shares of Workday from $325.00 to $300.00 and set an “overweight” rating for the company in a research note on Monday, August 18th. Finally, Oppenheimer cut their target price on Workday from $300.00 to $270.00 and set an “outperform” rating on the stock in a research report on Friday, August 22nd. Two investment analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eleven have given a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $287.86.

Insider Buying and Selling

In other news, Director Michael M. Mcnamara sold 5,393 shares of the stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $235.16, for a total value of $1,268,217.88. Following the completion of the sale, the director owned 24,078 shares in the company, valued at approximately $5,662,182.48. This trade represents a 18.30% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total value of $1,395,720.00. Following the sale, the chief financial officer owned 168,468 shares in the company, valued at approximately $39,189,026.16. The trade was a 3.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders have sold 264,933 shares of company stock valued at $61,475,760. 20.00% of the stock is owned by insiders.

Workday Stock Performance

Shares of WDAY stock opened at $233.69 on Wednesday. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. The company has a market cap of $62.40 billion, a PE ratio of 108.19, a P/E/G ratio of 2.83 and a beta of 1.11. The company’s fifty day simple moving average is $234.34 and its 200-day simple moving average is $236.62. Workday, Inc. has a 52 week low of $205.33 and a 52 week high of $294.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. Workday had a net margin of 6.51% and a return on equity of 9.74%. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. During the same period in the prior year, the company earned $1.89 EPS. The firm’s revenue was up 12.6% on a year-over-year basis. As a group, equities research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

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.