46,258 Shares in Workday, Inc. $WDAY Bought by Managed Asset Portfolios LLC

Key Points

• Managed Asset Portfolios LLC opened a new position of 46,258 shares in Workday (NASDAQ:WDAY) in Q4, valued at about $9.94 million, and institutional investors now own 89.81% of the stock.
• Several analysts have trimmed price targets recently, but the stock retains a consensus rating of Moderate Buy with a consensus price target of $199.71.
• Company insiders have been net sellers, disposing of 989,814 shares worth roughly $131.6 million in the last quarter; insiders still hold about 20% of the company.

Managed Asset Portfolios LLC acquired a new position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 46,258 shares of the software maker's stock, valued at approximately $9,935,000.

Several other large investors have also modified their holdings of the company. Finivi Inc. boosted its holdings in shares of Workday by 3.3% during the 3rd quarter. Finivi Inc. now owns 1,516 shares of the software maker's stock worth $365,000 after buying an additional 48 shares during the period. Farther Finance Advisors LLC boosted its holdings in shares of Workday by 1.2% during the 3rd quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker's stock worth $994,000 after buying an additional 49 shares during the period. Strategic Investment Advisors MI boosted its holdings in shares of Workday by 1.6% during the 2nd quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker's stock worth $777,000 after buying an additional 50 shares during the period. Spirepoint Private Client LLC boosted its holdings in shares of Workday by 3.6% during the 3rd quarter. Spirepoint Private Client LLC now owns 1,452 shares of the software maker's stock worth $350,000 after buying an additional 51 shares during the period. Finally, PDS Planning Inc boosted its holdings in shares of Workday by 3.1% during the 3rd quarter. PDS Planning Inc now owns 1,732 shares of the software maker's stock worth $417,000 after buying an additional 52 shares during the period. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on WDAY shares. Deutsche Bank Aktiengesellschaft decreased their price objective on shares of Workday from $265.00 to $190.00 and set a "buy" rating for the company in a report on Wednesday, February 18th. Guggenheim decreased their price objective on shares of Workday from $285.00 to $275.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Rosenblatt Securities decreased their price objective on shares of Workday from $180.00 to $150.00 and set a "buy" rating for the company in a report on Wednesday, February 25th. Piper Sandler decreased their price objective on shares of Workday from $200.00 to $135.00 and set a "neutral" rating for the company in a report on Wednesday, February 25th. Finally, Weiss Ratings cut shares of Workday from a "hold (c-)" rating to a "sell (d+)" rating in a research note on Friday, March 20th. Nineteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $199.71.

Insiders Place Their Bets

In related news, CFO Zane Rowe sold 6,000 shares of the stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total value of $769,320.00. Following the completion of the sale, the chief financial officer owned 217,930 shares in the company, valued at approximately $27,942,984.60. This trade represents a 2.68% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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, insider Robert Enslin sold 5,373 shares of the stock in a transaction dated Monday, April 6th. The shares were sold at an average price of $129.41, for a total transaction of $695,319.93. Following the completion of the sale, the insider owned 165,414 shares of the company's stock, valued at approximately $21,406,225.74. The trade was a 3.15% decrease in their position. The disclosure for this sale is available in the SEC filing. 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 have sold 989,814 shares of company stock valued at $131,576,291 in the last quarter. 20.00% of the stock is currently owned by insiders.

Workday Price Performance

NASDAQ WDAY opened at $119.76 on Monday. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. The firm has a 50-day simple moving average of $131.74 and a 200 day simple moving average of $183.20. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $276.00. The stock has a market cap of $30.78 billion, a PE ratio of 46.42, a PEG ratio of 1.16 and a beta of 1.14.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, beating the consensus estimate of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The business had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.52 billion. During the same quarter last year, the company earned $1.92 earnings per share. The firm's revenue was up 14.5% on a year-over-year basis. On average, research analysts forecast that Workday, Inc. will post 5.11 EPS for the current year.

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.

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