Workday, Inc. $WDAY Holdings Cut by Pzena Investment Management LLC

Pzena Investment Management LLC cut its position in shares of Workday, Inc. (NASDAQ:WDAY) by 12.1% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,733,006 shares of the software maker’s stock after selling 238,264 shares during the period. Workday makes up 1.0% of Pzena Investment Management LLC’s holdings, making the stock its 29th biggest holding. Pzena Investment Management LLC owned 0.72% of Workday worth $330,068,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of WDAY. Tidal Investments LLC increased its holdings in shares of Workday by 43.6% during the 2nd quarter. Tidal Investments LLC now owns 1,439,456 shares of the software maker’s stock worth $176,218,000 after buying an additional 437,175 shares during the last quarter. First Trust Advisors LP raised its position in shares of Workday by 9.6% during the 1st quarter. First Trust Advisors LP now owns 1,416,176 shares of the software maker’s stock valued at $183,990,000 after buying an additional 124,524 shares during the period. Pacer Advisors Inc. raised its position in shares of Workday by 60.4% during the 1st quarter. Pacer Advisors Inc. now owns 1,227,051 shares of the software maker’s stock valued at $159,418,000 after buying an additional 462,002 shares during the period. Temasek Holdings Private Ltd raised its position in shares of Workday by 9.5% during the 1st quarter. Temasek Holdings Private Ltd now owns 889,318 shares of the software maker’s stock valued at $115,540,000 after buying an additional 77,330 shares during the period. Finally, Hsbc Holdings PLC lifted its holdings in Workday by 25.3% in the first quarter. Hsbc Holdings PLC now owns 710,309 shares of the software maker’s stock valued at $92,374,000 after acquiring an additional 143,274 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently weighed in on the company. TD Cowen lowered their price objective on Workday from $220.00 to $210.00 and set a “hold” rating for the company in a research report on Friday, August 28th. Needham & Company LLC restated a “buy” rating and issued a $230.00 target price (up from $180.00) on shares of Workday in a research report on Monday, October 5th. Freedom Broker lowered Workday from a “buy” rating to a “hold” rating and upped their price target for the company from $180.00 to $200.00 in a research note on Friday, August 28th. Daiwa Securities Group upped their price target on Workday from $170.00 to $230.00 and gave the company a “buy” rating in a research note on Wednesday, September 9th. Finally, BNP Paribas Exane increased their price target on Workday from $160.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. Twenty-two analysts have rated the stock with a Buy rating, nineteen have issued a Hold rating and two have given a Sell rating to the stock. According to MarketBeat, Workday has a consensus rating of “Hold” and an average price target of $202.10.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 99,835 shares of the firm’s stock in a transaction dated Friday, October 9th. The stock was sold at an average price of $187.55, for a total transaction of $18,724,054.25. Following the completion of the transaction, the insider directly owned 105,049 shares in the company, valued at $19,701,939.95. This trade represents a 48.73% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 2,729 shares of Workday stock in a transaction dated Tuesday, October 6th. The shares were sold at an average price of $187.28, for a total value of $511,087.12. Following the completion of the transaction, the insider directly owned 251,314 shares of the company’s stock, valued at approximately $47,066,085.92. This represents a 1.07% 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 have sold 988,104 shares of company stock worth $188,811,574. 18.64% of the stock is owned by corporate insiders.

Workday Stock Up 2.0%

Workday stock opened at $201.84 on Thursday. The company has a market capitalization of $48.64 billion, a PE ratio of 32.34, a price-to-earnings-growth ratio of 1.99 and a beta of 1.02. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $236.80. The firm has a 50 day moving average price of $194.15 and a 200 day moving average price of $156.36.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, topping analysts’ consensus estimates of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%. The company had revenue of $2.65 billion for the quarter, compared to analysts’ expectations of $2.64 billion. During the same period in the prior year, the firm earned $2.21 earnings per share. The firm’s revenue was up 12.8% compared to the same quarter last year. Research analysts expect that Workday, Inc. will post 5.32 earnings per share for the current year.

Workday Company Profile

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company’s products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.