Workday, Inc. $WDAY Stock Holdings Lowered by Aberdeen Group plc

Key Points

• Aberdeen Group plc reduced its stake in Workday, Inc. by 31.0%, holding approximately 0.07% of the company worth $43.96 million after selling 85,234 shares.
• Significant investments were made by institutional investors, including T. Rowe Price with a new stake worth approximately $658.73 million in the fourth quarter.
• Workday reported $2.23 EPS for the last quarter, beating estimates by $0.22, with a revenue increase of 12.6% year-over-year.

Aberdeen Group plc trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 31.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 189,829 shares of the software maker's stock after selling 85,234 shares during the period. Aberdeen Group plc owned about 0.07% of Workday worth $43,961,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Horizon Investments LLC lifted its position in Workday by 370.1% during the first quarter. Horizon Investments LLC now owns 14,805 shares of the software maker's stock valued at $3,457,000 after buying an additional 11,656 shares in the last quarter. Fox Run Management L.L.C. acquired a new position in Workday during the first quarter valued at approximately $1,741,000. Kovitz Investment Group Partners LLC lifted its position in shares of Workday by 406.5% during the first quarter. Kovitz Investment Group Partners LLC now owns 7,587 shares of the software maker's stock worth $1,772,000 after purchasing an additional 6,089 shares in the last quarter. OneAscent Investment Solutions LLC acquired a new position in shares of Workday during the first quarter worth $463,000. Finally, Vestmark Advisory Solutions Inc. lifted its position in shares of Workday by 78.4% during the first quarter. Vestmark Advisory Solutions Inc. now owns 10,322 shares of the software maker's stock worth $2,410,000 after purchasing an additional 4,536 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of recent research reports. Royal Bank Of Canada reissued an "outperform" rating and set a $340.00 target price on shares of Workday in a research report on Friday, May 23rd. KeyCorp reduced their target price on shares of Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. DA Davidson boosted their target price on shares of Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a research report on Friday, May 23rd. Piper Sandler reaffirmed an "underweight" rating and issued a $235.00 price target (down from $255.00) on shares of Workday in a report on Thursday, July 10th. Finally, Wall Street Zen raised shares of Workday from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. Two equities research analysts have rated the stock with a Strong Buy rating, eighteen have given a Buy rating, seven have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, Workday currently has a consensus rating of "Moderate Buy" and a consensus price target of $292.92.

Workday Stock Performance

Shares of NASDAQ:WDAY traded up $0.09 on Thursday, reaching $227.58. 4,980,830 shares of the company's stock were exchanged, compared to its average volume of 2,395,072. The firm has a market capitalization of $60.76 billion, a price-to-earnings ratio of 125.73, a PEG ratio of 3.47 and a beta of 1.24. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $294.00. The business's 50-day moving average is $233.31 and its two-hundred day moving average is $243.20. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. The company had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The firm's revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the company earned $1.74 earnings per share. As a group, equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity at Workday

In other Workday news, CAO Mark S. Garfield sold 451 shares of the stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the sale, the chief accounting officer directly owned 42,977 shares of the company's stock, valued at approximately $10,093,578.22. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the sale, the director directly owned 67,500 shares in the company, valued at $16,767,675. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 329,005 shares of company stock valued at $79,203,523 in the last ninety days. 19.31% of the stock is owned by insiders.

About Workday

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.