Deepwater Asset Management LLC Sells 9,753 Shares of Workday, Inc. $WDAY

Deepwater Asset Management LLC reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 18.3% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 43,483 shares of the software maker’s stock after selling 9,753 shares during the period. Workday comprises 2.7% of Deepwater Asset Management LLC’s investment portfolio, making the stock its 16th biggest position. Deepwater Asset Management LLC’s holdings in Workday were worth $9,339,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. grew its position 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 acquiring an additional 3,210,232 shares during the period. State Street Corp grew its position in shares of Workday by 0.8% during the 3rd quarter. State Street Corp now owns 9,674,568 shares of the software maker’s stock valued at $2,328,959,000 after acquiring an additional 74,052 shares during the period. Hotchkis & Wiley Capital Management LLC grew its position in shares of Workday by 47.5% during 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 during the period. Geode Capital Management LLC grew its position in shares of 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 during the period. Finally, First Eagle Investment Management LLC grew its position in shares of 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 period. 89.81% of the stock is owned by institutional investors.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $144.28 on Monday. The firm has a fifty day moving average price of $127.25 and a two-hundred day moving average price of $162.62. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Workday, Inc. has a one year low of $110.36 and a one year high of $257.09. The company has a market cap of $35.64 billion, a price-to-earnings ratio of 45.09, a PEG ratio of 1.52 and a beta of 1.09.

Workday (NASDAQ:WDAY) last announced 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 net margin of 8.60% and a return on equity of 14.75%. The firm had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same period last year, the firm earned $2.23 EPS. The business’s quarterly revenue was up 13.5% compared to the same quarter last year. Analysts anticipate that Workday, Inc. will post 5.41 EPS for the current fiscal year.

Insider Activity

In other Workday news, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction 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 completion of the transaction, the insider directly owned 165,074 shares of the company’s stock, valued at $21,193,850.86. This trade represents a 5.36% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total transaction of $769,320.00. Following the completion of the transaction, the chief financial officer directly owned 217,930 shares of the company’s stock, valued at approximately $27,942,984.60. The trade was a 2.68% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders sold 774,814 shares of company stock valued at $101,308,591 in the last quarter. 18.64% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

WDAY has been the subject of a number of research reports. Stifel Nicolaus set a $175.00 target price on shares of Workday in a research report on Monday, February 9th. Wells Fargo & Company raised their price objective on shares of Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a report on Friday, May 22nd. Bank of America initiated coverage on shares of Workday in a report on Wednesday, May 27th. They set a “neutral” rating and a $140.00 target price on the stock. Weiss Ratings downgraded Workday from a “hold (c-)” rating to a “sell (d+)” rating in a research report on Friday, March 20th. Finally, JPMorgan Chase & Co. dropped their target price on Workday from $270.00 to $230.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 24th. One research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $185.03.

Workday 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.