Neuberger Berman Group LLC Decreases Holdings in Workday, Inc. $WDAY

Neuberger Berman Group LLC trimmed its stake in Workday, Inc. (NASDAQ:WDAY) by 3.6% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 692,756 shares of the software maker’s stock after selling 25,696 shares during the quarter. Neuberger Berman Group LLC’s holdings in Workday were worth $166,262,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors also recently modified their holdings of WDAY. Dagco Inc. bought a new position in Workday during the first quarter valued at $31,000. Golden State Wealth Management LLC lifted its position in shares of Workday by 2,216.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after buying an additional 133 shares during the last quarter. Physician Wealth Advisors Inc. bought a new position in shares of Workday during the 2nd quarter worth $42,000. Geneos Wealth Management Inc. increased its holdings in Workday by 211.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after acquiring an additional 127 shares during the last quarter. Finally, Itau Unibanco Holding S.A. purchased a new stake in Workday in the 1st quarter worth about $48,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In related news, Director Michael M. Mcnamara sold 5,393 shares of the firm’s stock in a transaction dated Friday, October 10th. The stock was sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the transaction, the director directly owned 24,078 shares of the company’s stock, valued at approximately $5,662,182.48. This trade represents a 18.30% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $232.62, for a total transaction of $1,395,720.00. Following the completion of the sale, the chief financial officer owned 168,468 shares of the company’s stock, valued at approximately $39,189,026.16. The trade was a 3.44% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last three months, insiders sold 264,933 shares of company stock worth $61,475,760. Company insiders own 19.31% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts recently commented on the stock. Deutsche Bank Aktiengesellschaft cut their price objective on shares of Workday from $330.00 to $280.00 and set a “buy” rating for the company in a report on Friday, August 22nd. Wells Fargo & Company reduced their price target on Workday from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Wednesday. JPMorgan Chase & Co. dropped their price objective on Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday. Citigroup reduced their target price on Workday from $261.00 to $247.00 and set a “neutral” rating for the company in a report on Wednesday. Finally, Sanford C. Bernstein cut their price objective on shares of Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a research report on Wednesday. Two analysts have rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $282.70.

Workday Trading Down 7.9%

Shares of Workday stock opened at $215.34 on Friday. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 2.10. Workday, Inc. has a 1 year low of $205.33 and a 1 year high of $294.00. The firm has a market cap of $57.50 billion, a PE ratio of 90.48, a PEG ratio of 2.67 and a beta of 1.11. The company has a 50 day simple moving average of $233.59 and a two-hundred day simple moving average of $236.32.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The firm had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. During the same quarter last year, the company posted $1.89 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. Analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Workday 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.