Workday, Inc. (NASDAQ:WDAY) Shares Sold by Wrapmanager Inc.

Wrapmanager Inc. reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 22.9% during the 4th quarter, Holdings Channel.com reports. The fund owned 2,479 shares of the software maker’s stock after selling 737 shares during the quarter. Wrapmanager Inc.’s holdings in Workday were worth $640,000 as of its most recent SEC filing.

A number of other large investors have also recently made changes to their positions in WDAY. Two Sigma Advisers LP grew its position in shares of Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after purchasing an additional 562,400 shares during the last quarter. KBC Group NV raised its holdings in Workday by 340.3% in the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after acquiring an additional 506,812 shares during the last quarter. Janus Henderson Group PLC lifted its stake in shares of Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares during the period. Principal Financial Group Inc. boosted its holdings in shares of Workday by 2,166.1% during the fourth quarter. Principal Financial Group Inc. now owns 403,224 shares of the software maker’s stock worth $104,044,000 after purchasing an additional 385,430 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Workday in the third quarter valued at $78,003,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Performance

NASDAQ:WDAY opened at $261.81 on Tuesday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The stock has a market cap of $69.64 billion, a P/E ratio of 43.42, a PEG ratio of 3.55 and a beta of 1.35. The business’s 50-day moving average price is $260.42 and its two-hundred day moving average price is $253.82.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have commented on WDAY. Piper Sandler restated a “neutral” rating and set a $270.00 price target (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. JMP Securities reissued a “market outperform” rating and set a $315.00 target price on shares of Workday in a research report on Thursday, February 6th. Loop Capital lifted their price target on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a research report on Thursday, February 6th. Finally, Scotiabank initiated coverage on shares of Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $291.11.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 70,090 shares of the company’s stock in a transaction dated Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total value of $17,840,007.70. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,215,826.41. This represents a 40.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sayan Chakraborty sold 5,498 shares of the stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. This represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 438,819 shares of company stock valued at $113,142,592. Corporate insiders own 20.00% of the company’s stock.

Workday Profile

Workday, Inc provides enterprise cloud applications in the United States and internationally. Its applications help its customers to plan, execute, analyze, and extend to other applications and environments to manage their business and operations. The company offers a suite of financial management applications to maintain accounting information in the general ledger; manage financial processes, such as payables and receivables; identify real-time financial, operational, and management insights; enhance financial consolidation; reduce time-to-close; promote internal control and auditability; and achieve consistency across finance operations.