Peregrine Capital Management LLC Sells 10,679 Shares of Workday, Inc. $WDAY

Peregrine Capital Management LLC reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 6.2% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 161,381 shares of the software maker’s stock after selling 10,679 shares during the quarter. Workday makes up about 0.8% of Peregrine Capital Management LLC’s holdings, making the stock its 23rd biggest holding. Peregrine Capital Management LLC’s holdings in Workday were worth $20,967,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in shares of Workday by 14.7% during the 4th quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock valued at $5,371,495,000 after purchasing an additional 3,210,232 shares in the last quarter. Auto Owners Insurance Co raised its stake in Workday by 25,412.8% in the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after buying an additional 10,190,516 shares in the last quarter. State Street Corp lifted its holdings in Workday by 1.0% in the fourth quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock worth $2,098,552,000 after buying an additional 96,139 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in Workday by 47.5% in the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after buying an additional 1,882,391 shares during the period. Finally, Geode Capital Management LLC boosted its position in Workday by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock valued at $1,089,970,000 after acquiring an additional 75,922 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday News Roundup

Here are the key news stories impacting Workday this week:

• Positive Sentiment: Workday appears to be benefiting from expanding customer demand and broader adoption of its HCM and financial management software across industries such as education, public sector, and financial services, which supports renewals and future growth. Workday (WDAY) Expands Its Solutions Portfolio As Customer Demand Spreads Across Industries
• Positive Sentiment: Analyst sentiment remains constructive, with recent upgrades and higher price targets reinforcing the view that Workday’s AI-enhanced product suite and revenue mix can support longer-term upside. Does Workday’s (WDAY) Index Shuffle and ESOP Shelf Clarify Its Long-Term Strategic Priorities?
• Neutral Sentiment: Workday’s inclusion in index reshuffling and a $3.19 billion shelf registration tied to ESOP flexibility are drawing attention, but these moves are not necessarily an immediate fundamental negative and may simply reflect capital and employee-compensation planning. Does Workday’s (WDAY) Index Shuffle and ESOP Shelf Clarify Its Long-Term Strategic Priorities?
• Neutral Sentiment: Workday continues to show solid underlying financial performance, with its latest quarter beating EPS and revenue estimates, which helps offset some near-term market concern.
• Negative Sentiment: Major shareholder David Duffield sold 107,500 shares for about $12.4 million under a pre-arranged 10b5-1 plan, a disclosure that can weigh on sentiment even if the sale was planned in advance. Insider Selling: Workday (NASDAQ:WDAY) Major Shareholder Sells $12,427,000.00 in Stock
• Negative Sentiment: Investor caution toward software valuations and concerns that AI could pressure long-term growth across the sector are also contributing to weakness in the stock. Are NOW, CRM, WDAY, and ADBE stocks bargains after their valuation reset?

Workday Trading Down 0.9%

Workday stock opened at $122.42 on Wednesday. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $249.85. The company has a market capitalization of $30.24 billion, a price-to-earnings ratio of 38.26, a price-to-earnings-growth ratio of 1.32 and a beta of 1.09. The business’s fifty day simple moving average is $127.41 and its two-hundred day simple moving average is $151.23. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating the consensus estimate of $2.51 by $0.15. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company’s revenue was up 13.5% on a year-over-year basis. During the same period last year, the company earned $2.23 earnings per share. As a group, equities analysts predict that Workday, Inc. will post 5.34 earnings per share for the current fiscal year.

Insider Activity at Workday

In other news, insider Gerrit S. Kazmaier sold 9,356 shares of the company’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the transaction, the insider owned 165,074 shares in the company, valued at approximately $21,193,850.86. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 that occurred on Thursday, June 25th. The shares were sold at an average price of $115.60, for a total transaction of $12,427,000.00. Following the sale, the insider owned 105,049 shares in the company, valued at approximately $12,143,664.40. The trade was a 50.58% 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. Insiders sold a total of 774,814 shares of company stock worth $98,324,391 in the last ninety days. 18.64% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of research analyst reports. DA Davidson set a $135.00 target price on Workday in a report on Tuesday, May 26th. Cantor Fitzgerald restated an “overweight” rating on shares of Workday in a research note on Wednesday, June 17th. William Blair upgraded Workday to a “strong-buy” rating in a research report on Friday, May 22nd. Bank of America started coverage on Workday in a research note on Wednesday, May 27th. They issued a “neutral” rating and a $140.00 price target on the stock. Finally, KeyCorp increased their price objective on Workday from $155.00 to $158.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, fourteen have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $184.00.

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.