OMERS ADMINISTRATION Corp Trims Holdings in Workday, Inc. $WDAY

OMERS ADMINISTRATION Corp trimmed its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 82.6% during the first quarter, HoldingsChannel.com reports. The firm owned 9,742 shares of the software maker’s stock after selling 46,262 shares during the quarter. OMERS ADMINISTRATION Corp’s holdings in Workday were worth $1,266,000 as of its most recent filing with the SEC.

A number of other institutional investors have also added to or reduced their stakes in the stock. Lead Edge Capital Management LLC bought a new stake in shares of Workday during the first quarter valued at about $79,988,000. Lombard Odier Asset Management Switzerland SA purchased a new stake in Workday in the 1st quarter worth approximately $405,000. Van Den Berg Management I Inc. boosted its holdings in Workday by 119.9% in the 1st quarter. Van Den Berg Management I Inc. now owns 37,898 shares of the software maker’s stock valued at $4,924,000 after purchasing an additional 20,664 shares during the period. Renaissance Technologies LLC bought a new position in shares of Workday in the first quarter worth $75,600,000. Finally, Oak Associates Ltd. OH purchased a new stake in shares of Workday in the first quarter worth $6,620,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ:WDAY opened at $168.01 on Thursday. The company has a market capitalization of $41.50 billion, a price-to-earnings ratio of 52.50, a PEG ratio of 1.70 and a beta of 1.11. The business has a 50 day moving average of $134.94 and a 200 day moving average of $140.27. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Workday, Inc. has a 1-year low of $110.36 and a 1-year high of $249.85.

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

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 918 shares of the stock in a transaction on Friday, July 10th. The shares were sold at an average price of $142.19, for a total transaction of $130,530.42. Following the transaction, the chief accounting officer owned 73,718 shares of the company’s stock, valued at approximately $10,481,962.42. This trade represents a 1.23% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible 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 Workday 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 completion of the transaction, the chief financial officer owned 288,460 shares in the company, valued at approximately $41,451,702. The trade was a 2.04% decrease in their position. 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. Insiders have sold 875,020 shares of company stock worth $113,938,503 in the last ninety days. 18.64% of the stock is currently owned by insiders.

Analyst Ratings Changes

WDAY has been the subject of several recent analyst reports. Citigroup restated a “market perform” rating on shares of Workday in a research report on Friday, May 22nd. Morgan Stanley downgraded Workday from an “equal weight” rating to an “underweight” rating and dropped their price target for the company from $185.00 to $145.00 in a research report on Tuesday, July 21st. CLSA initiated coverage on Workday in a report on Monday, July 20th. They set an “underperform” rating and a $92.00 price objective for the company. Wolfe Research restated an “outperform” rating and issued a $160.00 price objective on shares of Workday in a research report on Friday, May 22nd. Finally, Sanford C. Bernstein reiterated an “outperform” rating and set a $216.00 target price on shares of Workday in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $179.80.

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.