Manning & Napier Advisors LLC Sells 280,382 Shares of Workday, Inc. $WDAY

Manning & Napier Advisors LLC trimmed its stake in Workday, Inc. (NASDAQ:WDAY) by 98.8% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 3,528 shares of the software maker’s stock after selling 280,382 shares during the quarter. Manning & Napier Advisors LLC’s holdings in Workday were worth $458,000 at the end of the most recent quarter.

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

Insider Buying and Selling at Workday

In other news, insider Robert Enslin sold 5,374 shares of Workday stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the transaction, the insider owned 239,469 shares in the company, valued at $32,304,368.10. This trade represents a 2.19% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. 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 business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $135.24, for a total transaction of $14,538,300.00. Following the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $14,206,826.76. The trade was a 50.58% decrease in their position. 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 have sold 766,602 shares of company stock valued at $99,108,423. 18.64% of the stock is owned by corporate insiders.

Workday Price Performance

WDAY stock opened at $138.95 on Monday. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The business’s 50-day moving average is $129.78 and its two-hundred day moving average is $146.63. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The company has a market cap of $34.32 billion, a price-to-earnings ratio of 43.42, a P/E/G ratio of 1.49 and a beta of 1.11.

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

Analyst Upgrades and Downgrades

A number of analysts have commented on WDAY shares. Jefferies Financial Group lifted their target price on Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a report on Friday, May 22nd. KeyCorp increased their price objective on Workday from $155.00 to $158.00 and gave the company an “overweight” rating in a research report on Friday, May 22nd. William Blair raised Workday to a “strong-buy” rating in a research report on Friday, May 22nd. Piper Sandler raised their price target on shares of Workday from $135.00 to $145.00 and gave the company a “neutral” rating in a report on Friday, May 22nd. Finally, Wall Street Zen upgraded shares of Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price 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.