Federated Hermes Inc. Has $2.99 Million Stock Holdings in Workday, Inc. $WDAY

Federated Hermes Inc. decreased its position in Workday, Inc. (NASDAQ:WDAY) by 86.8% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 12,436 shares of the software maker’s stock after selling 81,434 shares during the quarter. Federated Hermes Inc.’s holdings in Workday were worth $2,994,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of WDAY. Vanguard Group Inc. boosted its holdings in Workday by 2.5% during the second quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock valued at $5,067,404,000 after acquiring an additional 515,529 shares during the period. State Street Corp lifted its position in shares of Workday by 3.3% during the 2nd quarter. State Street Corp now owns 9,600,516 shares of the software maker’s stock worth $2,304,124,000 after purchasing an additional 303,713 shares during the last quarter. Geode Capital Management LLC boosted its stake in Workday by 2.9% during the 2nd quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock valued at $1,183,112,000 after purchasing an additional 140,042 shares during the period. Parnassus Investments LLC grew its holdings in Workday by 13.1% in the 3rd quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker’s stock valued at $774,478,000 after buying an additional 371,561 shares during the last quarter. Finally, Invesco Ltd. increased its position in Workday by 10.4% in the 2nd quarter. Invesco Ltd. now owns 2,187,137 shares of the software maker’s stock worth $524,913,000 after buying an additional 205,403 shares during the period. 89.81% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several research reports. Piper Sandler reduced their price objective on Workday from $235.00 to $200.00 and set a “neutral” rating for the company in a research report on Monday. Oppenheimer restated an “outperform” rating on shares of Workday in a research report on Wednesday, November 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Workday in a report on Wednesday, November 26th. The Goldman Sachs Group assumed coverage on shares of Workday in a research report on Monday, January 12th. They set a “neutral” rating and a $238.00 price objective for the company. Finally, TD Cowen reiterated a “buy” rating on shares of Workday in a research note on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-four have assigned a Buy rating and thirteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average price target of $277.00.

Insider Transactions at Workday

In related news, insider Richard Harry Sauer sold 1,130 shares of the stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $210.00, for a total transaction of $237,300.00. Following the completion of the sale, the insider owned 85,398 shares in the company, valued at $17,933,580. This trade represents a 1.31% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction dated Tuesday, January 6th. The shares were sold at an average price of $208.75, for a total transaction of $1,252,500.00. Following the completion of the transaction, the chief financial officer owned 159,158 shares in the company, valued at approximately $33,224,232.50. This trade represents a 3.63% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 370,321 shares of company stock valued at $78,866,401. 20.00% of the stock is owned by insiders.

Workday Stock Performance

NASDAQ WDAY opened at $161.17 on Wednesday. Workday, Inc. has a twelve month low of $157.00 and a twelve month high of $283.68. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34. The stock has a market cap of $42.39 billion, a P/E ratio of 67.72, a PEG ratio of 1.48 and a beta of 1.13. The company’s 50-day simple moving average is $205.85 and its 200 day simple moving average is $222.54.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating analysts’ consensus estimates of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The company had revenue of $2.43 billion for the quarter, compared to the consensus estimate of $2.42 billion. During the same period in the previous year, the business earned $1.89 earnings per share. The company’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.