Workday, Inc. $WDAY Shares Sold by Sei Investments Co.

Sei Investments Co. trimmed its stake in Workday, Inc. (NASDAQ:WDAY) by 39.1% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 96,762 shares of the software maker’s stock after selling 62,102 shares during the period. Sei Investments Co.’s holdings in Workday were worth $12,572,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Norges Bank acquired a new stake in shares of Workday in the fourth quarter valued at $448,804,000. Harvest Fund Management Co. Ltd lifted its stake in Workday by 40.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock worth $11,943,000 after acquiring an additional 15,903 shares in the last quarter. Aurora Investment Counsel acquired a new position in Workday during the 4th quarter worth about $2,357,000. Robeco Institutional Asset Management B.V. lifted its stake in Workday by 18.3% during the 4th quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock worth $122,804,000 after acquiring an additional 88,384 shares in the last quarter. Finally, Morningstar Investment Management LLC boosted its holdings in Workday by 127.2% during the 4th quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock valued at $5,808,000 after acquiring an additional 15,138 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 918 shares of the firm’s stock in a transaction on Friday, July 10th. The shares were sold at an average price of $142.19, for a total value of $130,530.42. Following the sale, the chief accounting officer directly owned 73,718 shares in the company, valued at approximately $10,481,962.42. This trade represents a 1.23% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the transaction, the chief financial officer owned 288,460 shares of the company’s stock, valued at approximately $41,451,702. The trade was a 2.04% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last three months, insiders sold 875,020 shares of company stock worth $113,938,503. 18.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on WDAY shares. William Blair raised Workday to a “strong-buy” rating in a research report on Friday, May 22nd. Piper Sandler increased their price target on shares of Workday from $135.00 to $145.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. Barclays raised shares of Workday from an “overweight” rating to a “buy” rating in a research note on Friday, May 22nd. BTIG Research restated a “buy” rating and issued a $175.00 price objective on shares of Workday in a report on Monday, May 18th. Finally, HC Wainwright set a $140.00 target price on shares of Workday in a research note on Wednesday, May 27th. One investment analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.80.

Workday Stock Performance

Shares of Workday stock opened at $160.34 on Friday. The business has a 50-day simple moving average of $136.31 and a 200-day simple moving average of $140.07. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85. The company has a market cap of $39.60 billion, a PE ratio of 50.11, a P/E/G ratio of 1.68 and a beta of 1.11.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The firm had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the company earned $2.23 earnings per share. The firm’s revenue was up 13.5% compared to the same quarter last year. On average, equities research analysts forecast that Workday, Inc. will post 5.38 EPS 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.