AustralianSuper Pty Ltd Sells 1,953 Shares of Workday, Inc. (NASDAQ:WDAY)

AustralianSuper Pty Ltd reduced its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 27.6% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,115 shares of the software maker's stock after selling 1,953 shares during the quarter. AustralianSuper Pty Ltd's holdings in Workday were worth $1,195,000 at the end of the most recent reporting period.

Other large investors also recently modified their holdings of the company. Cornerstone Planning Group LLC boosted its position in Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after purchasing an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new position in Workday during the first quarter valued at approximately $32,000. Financial Management Professionals Inc. boosted its position in Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after purchasing an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new position in Workday during the first quarter valued at approximately $40,000. Finally, BankPlus Trust Department acquired a new position in Workday during the first quarter valued at approximately $40,000. 89.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 72,551 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total value of $17,383,945.11. Following the transaction, the insider owned 102,997 shares of the company's stock, valued at $24,679,111.17. This represents a 41.33% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total value of $1,496,437.50. Following the completion of the transaction, the chief executive officer directly owned 1,472 shares in the company, valued at approximately $352,440.96. This represents a 80.94% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 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.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent research reports. Wall Street Zen raised Workday from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. Wells Fargo & Company lowered their target price on Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a research note on Tuesday, April 22nd. JMP Securities restated a "market outperform" rating and set a $315.00 price objective on shares of Workday in a research note on Friday, May 23rd. Piper Sandler restated an "underweight" rating and set a $235.00 price objective (down previously from $255.00) on shares of Workday in a research note on Thursday, July 10th. Finally, Morgan Stanley set a $255.00 target price on Workday and gave the company an "equal weight" rating in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and a consensus target price of $296.88.

Workday Stock Performance

Shares of NASDAQ:WDAY traded up $5.21 during trading on Tuesday, hitting $238.92. 1,256,144 shares of the company were exchanged, compared to its average volume of 2,267,145. The company has a market cap of $63.79 billion, a PE ratio of 131.93, a P/E/G ratio of 3.52 and a beta of 1.21. The stock has a 50 day moving average of $245.83 and a 200 day moving average of $247.13. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07.

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

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.