Bryce Point Capital LLC Sells 80 Shares of Workday, Inc. (NASDAQ:WDAY)

Bryce Point Capital LLC reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 1.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 4,072 shares of the software maker’s stock after selling 80 shares during the period. Workday accounts for approximately 0.8% of Bryce Point Capital LLC’s investment portfolio, making the stock its 3rd biggest position. Bryce Point Capital LLC’s holdings in Workday were worth $1,038,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Cornerstone Planning Group LLC increased its holdings in shares of Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock valued at $28,000 after purchasing an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of Workday during the first quarter worth $32,000. Financial Management Professionals Inc. lifted its holdings in shares of Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock worth $36,000 after buying an additional 54 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new stake in shares of Workday during the first quarter worth $40,000. Finally, BankPlus Trust Department acquired a new stake in shares of Workday during the first quarter worth $40,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total value of $1,863,075.00. Following the sale, the director directly owned 67,500 shares in the company, valued at $16,767,675. This represents a 10.00% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total value of $1,437,540.00. Following the completion of the sale, the chief financial officer owned 178,418 shares in the company, valued at $42,747,168.62. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 329,005 shares of company stock valued at $79,203,523 over the last three months. Insiders own 19.31% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the company. Loop Capital dropped their target price on Workday from $285.00 to $250.00 and set a “hold” rating for the company in a report on Friday, May 23rd. Wall Street Zen raised Workday from a “hold” rating to a “buy” rating in a report on Sunday, July 13th. KeyCorp dropped their price target on Workday from $335.00 to $325.00 and set an “overweight” rating for the company in a research note on Friday, May 23rd. Mizuho cut their price objective on shares of Workday from $320.00 to $275.00 and set an “outperform” rating for the company in a research report on Tuesday, April 15th. Finally, Guggenheim reaffirmed a “neutral” rating on shares of Workday in a research report on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $296.88.

Workday Stock Performance

Workday stock opened at $241.74 on Friday. The business has a 50 day moving average of $242.57 and a 200-day moving average of $246.67. Workday, Inc. has a 1 year low of $199.81 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 company has a market capitalization of $64.54 billion, a P/E ratio of 133.56, a P/E/G ratio of 3.65 and a beta of 1.21.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the firm posted $1.74 earnings per share. The firm’s revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts predict that Workday, Inc. will post 2.63 earnings per share 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.