Sei Investments Co. Lowers Stake in Workday, Inc. $WDAY

Sei Investments Co. cut its holdings in Workday, Inc. (NASDAQ:WDAY) by 39.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 96,762 shares of the software maker’s stock after selling 62,102 shares during the quarter. Sei Investments Co.’s holdings in Workday were worth $12,572,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also made changes to their positions in the company. Auto Owners Insurance Co boosted its stake 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 worth $2,197,332,000 after buying an additional 10,190,516 shares during the period. Vanguard Group Inc. increased its position in Workday by 14.7% in 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 acquiring an additional 3,210,232 shares during the period. Janus Henderson Group PLC increased its position in Workday by 101.4% in the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock valued at $1,077,537,000 after acquiring an additional 2,525,821 shares during the period. Norges Bank purchased a new stake in Workday during the 4th quarter valued at approximately $448,804,000. Finally, First Eagle Investment Management LLC raised its stake in Workday by 87.8% during the 4th quarter. First Eagle Investment Management LLC now owns 4,338,773 shares of the software maker’s stock valued at $931,882,000 after acquiring an additional 2,028,085 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages have weighed in on WDAY. HC Wainwright set a $140.00 target price on Workday in a research note on Wednesday, May 27th. Weiss Ratings restated a “sell (d+)” rating on shares of Workday in a research note on Wednesday, June 17th. Royal Bank Of Canada reaffirmed an “outperform” rating on shares of Workday in a report on Friday, May 22nd. Morgan Stanley lowered shares of Workday from an “equal weight” rating to an “underweight” rating and lowered their price objective for the company from $185.00 to $145.00 in a research report on Tuesday, July 21st. Finally, UBS Group boosted their price objective on shares of Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have given a Buy rating, thirteen have given a Hold rating and three have assigned a Sell rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $179.80.

Insiders Place Their Bets

In other news, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction on Tuesday, July 7th. The shares were sold at an average price of $143.70, for a total transaction of $862,200.00. Following the transaction, the chief financial officer directly owned 288,460 shares of the company’s stock, valued at $41,451,702. This represents a 2.04% decrease in their position. The transaction was disclosed in a document filed 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, insider Robert Enslin sold 5,374 shares of the stock in a transaction dated Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the transaction, the insider owned 239,469 shares of the company’s stock, valued at $32,304,368.10. This represents a 2.19% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders sold 875,020 shares of company stock worth $113,938,503. 18.64% of the stock is owned by corporate insiders.

Workday Stock Performance

NASDAQ WDAY opened at $160.34 on Friday. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The business’s 50 day moving average is $136.31 and its two-hundred day moving average is $140.07. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85. The stock has a market capitalization of $39.60 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 1.68 and a beta of 1.11.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $2.52 billion. During the same period last year, the firm earned $2.23 EPS. The company’s quarterly revenue was up 13.5% compared to the same quarter last year. Research analysts expect that Workday, Inc. will post 5.38 EPS for the current year.

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.