Commonwealth Equity Services LLC Has $5.77 Million Stake in Workday, Inc. $WDAY

Commonwealth Equity Services LLC decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 20.1% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 26,842 shares of the software maker’s stock after selling 6,737 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Workday were worth $5,765,000 as of its most recent SEC filing.

Other large investors have also added to or reduced their stakes in the company. Rakuten Securities Inc. acquired a new position in Workday during the second quarter worth $25,000. Measured Wealth Private Client Group LLC acquired a new position in Workday during the third quarter worth $26,000. DT Investment Partners LLC acquired a new position in Workday during the fourth quarter worth $27,000. LRI Investments LLC acquired a new position in Workday during the fourth quarter worth $29,000. Finally, JPL Wealth Management LLC acquired a new position in Workday during the third quarter worth $30,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on WDAY shares. Bank of America started coverage on shares of Workday in a report on Wednesday, May 27th. They set a “neutral” rating and a $140.00 target price for the company. HC Wainwright set a $140.00 target price on shares of Workday in a report on Wednesday, May 27th. Piper Sandler upped 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. The Goldman Sachs Group dropped their price target on shares of Workday from $206.00 to $151.00 and set a “neutral” rating on the stock in a research report on Tuesday, May 26th. Finally, Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $185.03.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total value of $13,949,200.00. Following the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at $13,631,158.24. This represents a 50.58% decrease in their ownership of the stock. 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 stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total transaction of $769,320.00. Following the completion of the transaction, the chief financial officer directly owned 217,930 shares in the company, valued at $27,942,984.60. The trade was a 2.68% decrease in their ownership of the stock. 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. Insiders sold 774,814 shares of company stock valued at $101,308,591 over the last three months. Company insiders own 18.64% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $144.28 on Friday. 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’s fifty day moving average price is $127.25 and its two-hundred day moving average price is $163.05. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $257.09. The firm has a market capitalization of $35.64 billion, a P/E ratio of 45.09, a price-to-earnings-growth ratio of 1.63 and a beta of 1.09.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping 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 analyst estimates of $2.52 billion. During the same period in the prior year, the firm posted $2.23 earnings per share. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, research analysts anticipate that Workday, Inc. will post 5.18 EPS for the current year.

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.