Dimensional Fund Advisors LP Sells 180,035 Shares of Workday, Inc. $WDAY

Dimensional Fund Advisors LP decreased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 29.1% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 438,105 shares of the software maker’s stock after selling 180,035 shares during the period. Dimensional Fund Advisors LP’s holdings in Workday were worth $56,916,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC increased its stake in shares of Workday by 230.2% in the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after acquiring an additional 2,792 shares in the last quarter. Empowered Funds LLC grew its holdings in Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after purchasing an additional 1,206 shares during the period. Geneos Wealth Management Inc. increased its stake in shares of Workday by 211.7% during the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after purchasing an additional 127 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Workday during the second quarter valued at approximately $281,000. Finally, NewEdge Advisors LLC lifted its holdings in shares of Workday by 32.0% during the second quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock valued at $1,583,000 after purchasing an additional 1,600 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on the company. Sanford C. Bernstein restated an “outperform” rating and issued a $216.00 price target on shares of Workday in a research note on Friday, May 22nd. CLSA began coverage on Workday in a research note on Monday, July 20th. They set an “underperform” rating and a $92.00 price objective for the company. Cantor Fitzgerald reissued an “overweight” rating on shares of Workday in a research note on Wednesday, June 17th. Piper Sandler raised their price target on Workday from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Finally, Oppenheimer reiterated an “outperform” rating on shares of Workday in a research note on Thursday, June 11th. One analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $179.80.

Workday Stock Up 1.4%

Workday stock opened at $160.34 on Friday. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The stock has a fifty day simple moving average of $136.31 and a two-hundred day simple moving average of $140.07. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a market cap of $39.60 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 1.71 and a beta of 1.11.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. During the same period in the prior year, the company posted $2.23 earnings per share. The company’s quarterly revenue was up 13.5% on a year-over-year basis. Equities analysts predict that Workday, Inc. will post 5.38 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the sale, the chief financial officer owned 288,460 shares of the company’s stock, valued at $41,451,702. This trade represents a 2.04% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. 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. Also, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction that occurred on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the sale, the insider owned 239,469 shares of the company’s stock, valued at $32,304,368.10. This represents a 2.19% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. 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 90 days, insiders have sold 875,020 shares of company stock worth $113,938,503. Company insiders own 18.64% of the company’s stock.

Workday Company Profile

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.