Lyell Wealth Management LP Sells 12,626 Shares of Workday, Inc. $WDAY

Lyell Wealth Management LP decreased its holdings in Workday, Inc. (NASDAQ:WDAY) by 13.4% during the 3rd quarter, according to the company in its most recent filing with the SEC. The fund owned 81,561 shares of the software maker’s stock after selling 12,626 shares during the period. Workday makes up about 1.5% of Lyell Wealth Management LP’s portfolio, making the stock its 19th biggest position. Lyell Wealth Management LP’s holdings in Workday were worth $19,634,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Vanguard Group Inc. raised its stake in Workday by 2.5% during the second quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock worth $5,067,404,000 after acquiring an additional 515,529 shares in the last quarter. State Street Corp grew its stake in shares of Workday by 3.3% during the second quarter. State Street Corp now owns 9,600,516 shares of the software maker’s stock worth $2,304,124,000 after buying an additional 303,713 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Workday by 2.9% during the second quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock worth $1,183,112,000 after buying an additional 140,042 shares in the last quarter. Parnassus Investments LLC lifted its stake in shares of Workday by 13.1% in the 3rd quarter. Parnassus Investments LLC now owns 3,217,205 shares of the software maker’s stock valued at $774,478,000 after acquiring an additional 371,561 shares during the last quarter. Finally, Invesco Ltd. boosted its holdings in shares of Workday by 10.4% during the 2nd quarter. Invesco Ltd. now owns 2,187,137 shares of the software maker’s stock valued at $524,913,000 after acquiring an additional 205,403 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Price Performance

Shares of WDAY opened at $144.42 on Friday. The firm has a market cap of $37.98 billion, a PE ratio of 60.68, a price-to-earnings-growth ratio of 1.23 and a beta of 1.13. Workday, Inc. has a 52-week low of $140.59 and a 52-week high of $281.00. The business’s 50 day moving average price is $196.02 and its two-hundred day moving average price is $218.07. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. The company had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same quarter in the previous year, the business posted $1.89 EPS. Workday’s revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on WDAY. Guggenheim restated a “buy” rating and set a $285.00 price target on shares of Workday in a report on Wednesday, November 26th. JPMorgan Chase & Co. cut their price target on shares of Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a report on Wednesday, November 26th. KeyCorp lowered their target price on Workday from $285.00 to $260.00 and set an “overweight” rating for the company in a research report on Wednesday, November 26th. Barclays reduced their price target on Workday from $280.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, January 12th. Finally, Oppenheimer restated an “outperform” rating on shares of Workday in a research report on Monday. One investment analyst has rated the stock with a Strong Buy rating, twenty-five have given a Buy rating and thirteen have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $269.06.

Insider Buying and Selling

In other news, insider Gerrit S. Kazmaier sold 3,759 shares of the business’s stock in a transaction that occurred on Tuesday, January 6th. The stock was sold at an average price of $208.73, for a total transaction of $784,616.07. Following the completion of the sale, the insider owned 105,167 shares in the company, valued at $21,951,507.91. The trade was a 3.45% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 82,884 shares of Workday stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $22,034,027.75. The trade was a 44.10% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 370,321 shares of company stock worth $78,866,401 over the last 90 days. 19.31% of the stock is owned by company insiders.

About Workday

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.