Glenmede Trust Co. NA Sells 34,621 Shares of Workday, Inc. $WDAY

Glenmede Trust Co. NA decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 38.7% in the 1st quarter, HoldingsChannel.com reports. The firm owned 54,831 shares of the software maker’s stock after selling 34,621 shares during the period. Glenmede Trust Co. NA’s holdings in Workday were worth $7,124,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Auto Owners Insurance Co increased its stake in Workday by 25,412.8% in the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock valued at $2,197,332,000 after buying an additional 10,190,516 shares during the last quarter. 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 worth $5,371,495,000 after buying an additional 3,210,232 shares during the last quarter. Janus Henderson Group PLC boosted its stake in shares of Workday by 101.4% during the 4th quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker’s stock worth $1,077,537,000 after buying an additional 2,525,821 shares during the last quarter. Norges Bank bought a new position in shares of Workday in the 4th quarter valued at about $448,804,000. Finally, First Eagle Investment Management LLC grew its holdings in shares of Workday by 87.8% in 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 in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WDAY. Citigroup reiterated a “market perform” rating on shares of Workday in a report on Friday, May 22nd. Wolfe Research restated an “outperform” rating and issued a $160.00 price target on shares of Workday in a research note on Friday, May 22nd. UBS Group boosted their price target on Workday from $130.00 to $140.00 and gave the stock a “neutral” rating in a research report on Friday, May 22nd. Wells Fargo & Company upped their price objective on Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Finally, Jefferies Financial Group increased their price objective on Workday from $115.00 to $140.00 and gave the company a “hold” rating in a report on Friday, May 22nd. One 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 issued a Sell rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $179.80.

Workday Trading Up 2.9%

Shares of NASDAQ:WDAY opened at $165.05 on Tuesday. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85. The company has a market capitalization of $40.77 billion, a P/E ratio of 51.58, a price-to-earnings-growth ratio of 1.71 and a beta of 1.08. The company has a 50-day simple moving average of $137.05 and a 200 day simple moving average of $139.34. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. The business had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.Workday’s quarterly revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the company posted $2.23 earnings per share. Sell-side analysts forecast that Workday, Inc. will post 5.38 earnings per share for the current year.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction on Tuesday, June 30th. The shares were sold at an average price of $122.04, for a total transaction of $13,119,300.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at $12,820,179.96. The trade was a 50.58% decrease in their ownership of the stock. 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. Also, 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 completion of the transaction, the chief financial officer owned 288,460 shares in the company, valued at approximately $41,451,702. This represents a 2.04% 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. In the last three months, insiders sold 875,020 shares of company stock worth $113,938,503. 18.64% of the stock is owned by company insiders.

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.