Eventide Asset Management LLC Cuts Stock Holdings in Workday, Inc. $WDAY

Eventide Asset Management LLC decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 68.1% during the fourth quarter, HoldingsChannel reports. The firm owned 4,857 shares of the software maker’s stock after selling 10,371 shares during the period. Eventide Asset Management LLC’s holdings in Workday were worth $1,054,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in WDAY. First Eagle Investment Management LLC bought a new position in shares of Workday during the 3rd quarter worth approximately $556,252,000. Norges Bank bought a new position in shares of Workday during the 4th quarter worth approximately $448,804,000. Robeco Institutional Asset Management B.V. raised its stake in shares of 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. Morningstar Investment Management LLC raised its stake in shares of Workday by 127.2% during the 4th quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after acquiring an additional 15,138 shares in the last quarter. Finally, Sienna Gestion bought a new position in shares of Workday during the 3rd quarter worth approximately $7,948,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

NASDAQ WDAY opened at $130.80 on Monday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. The stock’s fifty day moving average price is $128.10 and its 200 day moving average price is $159.55. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The company has a market cap of $32.31 billion, a price-to-earnings ratio of 40.88, a PEG ratio of 1.39 and a beta of 1.09.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS 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 business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the previous year, the business posted $2.23 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. As a group, equities research analysts forecast that Workday, Inc. will post 5.4 earnings per share for the current year.

Insider Buying and Selling at Workday

In other Workday news, CAO Mark S. Garfield sold 1,585 shares of Workday stock in a transaction that occurred on Friday, April 10th. The shares were sold at an average price of $113.05, for a total transaction of $179,184.25. Following the completion of the sale, the chief accounting officer directly owned 31,467 shares in the company, valued at approximately $3,557,344.35. The trade was a 4.80% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction that occurred on Tuesday, June 9th. The shares were sold at an average price of $138.32, for a total transaction of $14,869,400.00. Following the sale, the insider owned 105,049 shares of the company’s stock, valued at approximately $14,530,377.68. The trade was a 50.58% 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. In the last 90 days, insiders sold 774,814 shares of company stock worth $102,709,316. Corporate insiders own 18.64% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Guggenheim reduced their price objective on shares of Workday from $285.00 to $275.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Robert W. Baird set a $195.00 price objective on shares of Workday in a research note on Tuesday, February 24th. JPMorgan Chase & Co. reduced their price objective on shares of Workday from $270.00 to $230.00 and set an “overweight” rating for the company in a research note on Tuesday, February 24th. Evercore lowered shares of Workday from an “outperform” rating to an “in-line” rating and set a $160.00 price objective for the company. in a research note on Wednesday, February 25th. Finally, Royal Bank Of Canada reiterated an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $185.03.

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.