Commonwealth Equity Services LLC Sells 6,737 Shares of Workday, Inc. $WDAY

Commonwealth Equity Services LLC cut its stake in Workday, Inc. (NASDAQ:WDAY) by 20.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm 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.

Several other large investors also recently modified their holdings of the stock. Dimensional Fund Advisors LP raised its position in shares of Workday by 5.5% in the fourth quarter. Dimensional Fund Advisors LP now owns 618,140 shares of the software maker’s stock valued at $132,774,000 after purchasing an additional 32,264 shares during the period. Mindset Wealth Management LLC increased its position in Workday by 21.5% during the fourth quarter. Mindset Wealth Management LLC now owns 1,329 shares of the software maker’s stock worth $285,000 after acquiring an additional 235 shares during the period. New York State Common Retirement Fund increased its position in Workday by 0.5% during the fourth quarter. New York State Common Retirement Fund now owns 256,000 shares of the software maker’s stock worth $54,984,000 after acquiring an additional 1,300 shares during the period. NZS Capital LLC increased its position in Workday by 20.5% during the fourth quarter. NZS Capital LLC now owns 488,576 shares of the software maker’s stock worth $104,936,000 after acquiring an additional 83,062 shares during the period. Finally, Wedbush Securities Inc. increased its position in Workday by 7.8% during the fourth quarter. Wedbush Securities Inc. now owns 1,481 shares of the software maker’s stock worth $318,000 after acquiring an additional 107 shares during the period. 89.81% of the stock is owned by institutional investors.

Insider Activity

In other Workday news, 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 sale, the chief financial officer directly owned 217,930 shares in the company, valued at $27,942,984.60. This represents a 2.68% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 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. Also, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction dated Thursday, April 9th. The stock was sold at an average price of $112.33, for a total transaction of $12,075,475.00. Following the sale, the insider owned 105,049 shares in the company, valued at $11,800,154.17. The trade was a 50.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 774,814 shares of company stock valued at $101,308,591. Company insiders own 18.64% of the company’s stock.

Workday Trading Down 2.5%

Shares of Workday stock opened at $144.28 on Friday. The company has a market capitalization of $35.64 billion, a price-to-earnings ratio of 45.09, a PEG ratio of 1.63 and a beta of 1.09. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $257.09. The firm’s 50-day moving average price is $127.25 and its two-hundred day moving average price is $163.05.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period in the prior year, the company posted $2.23 earnings per share. On average, analysts forecast that Workday, Inc. will post 5.18 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on WDAY. BTIG Research reaffirmed a “buy” rating and set a $175.00 price target on shares of Workday in a research report on Monday, May 18th. Barclays raised shares of Workday from an “overweight” rating to a “buy” rating in a research report on Friday, May 22nd. Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Summit Redstone set a $275.00 price target on shares of Workday in a research report on Wednesday, May 27th. Finally, Wells Fargo & Company raised their price target on shares of Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average 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.