Intech Investment Management LLC Reduces Stock Position in Workday, Inc. (NASDAQ:WDAY)

Intech Investment Management LLC lowered its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 0.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,012 shares of the software maker’s stock after selling 65 shares during the quarter. Intech Investment Management LLC’s holdings in Workday were worth $3,316,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Beacon Capital Management LLC boosted its holdings in Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after acquiring an additional 70 shares during the period. VisionPoint Advisory Group LLC raised its position in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares in the last quarter. Clear Street Markets LLC bought a new stake in Workday during the 3rd quarter valued at $29,000. Exchange Traded Concepts LLC raised its position in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after purchasing an additional 105 shares in the last quarter. Finally, CVA Family Office LLC bought a new stake in Workday during the 4th quarter valued at $33,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY traded down $39.99 during mid-day trading on Monday, reaching $220.91. 15,622,800 shares of the company’s stock traded hands, compared to its average volume of 2,015,287. The business’s 50-day moving average price is $259.94 and its 200-day moving average price is $269.56. The stock has a market capitalization of $58.32 billion, a P/E ratio of 39.80, a price-to-earnings-growth ratio of 4.64 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. Workday, Inc. has a 12 month low of $192.68 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 6.02%. The business had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same quarter last year, the business earned $0.16 earnings per share. The business’s revenue for the quarter was up 18.1% on a year-over-year basis. Equities analysts predict that Workday, Inc. will post 2.5 earnings per share for the current year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the transaction, the insider now owns 843,000 shares in the company, valued at $223,302,270. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the sale, the insider now owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the sale, the insider now directly owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 435,691 shares of company stock worth $117,731,569. 20.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on WDAY shares. Stifel Nicolaus decreased their target price on Workday from $290.00 to $250.00 and set a “hold” rating for the company in a research report on Friday. Bank of America dropped their target price on Workday from $330.00 to $310.00 and set a “buy” rating on the stock in a research note on Thursday, May 16th. Canaccord Genuity Group dropped their target price on Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday. StockNews.com downgraded Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th. Finally, The Goldman Sachs Group dropped their price target on Workday from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $283.96.

Workday Company Profile

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.