Bank of New York Mellon Corp Trims Stake in Workday, Inc. (NASDAQ:WDAY)

Bank of New York Mellon Corp cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 1.0% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 1,451,398 shares of the software maker's stock after selling 14,519 shares during the quarter. Bank of New York Mellon Corp owned about 0.55% of Workday worth $338,945,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Janney Montgomery Scott LLC raised its position in Workday by 5.0% in the first quarter. Janney Montgomery Scott LLC now owns 22,645 shares of the software maker's stock valued at $5,288,000 after purchasing an additional 1,070 shares during the period. Kingswood Wealth Advisors LLC grew its stake in shares of Workday by 13.9% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,136 shares of the software maker's stock valued at $265,000 after buying an additional 139 shares in the last quarter. Sowell Financial Services LLC purchased a new stake in shares of Workday in the 1st quarter valued at $290,000. Golden State Wealth Management LLC lifted its stake in Workday by 9,166.7% during the 1st quarter. Golden State Wealth Management LLC now owns 278 shares of the software maker's stock worth $65,000 after acquiring an additional 275 shares in the last quarter. Finally, Brighton Jones LLC boosted its holdings in Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock valued at $1,033,000 after acquiring an additional 2,792 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Up 1.8%

NASDAQ:WDAY opened at $242.03 on Monday. The business's 50 day moving average is $249.27 and its two-hundred day moving average is $249.42. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a market cap of $64.62 billion, a PE ratio of 133.72, a P/E/G ratio of 3.65 and a beta of 1.21. 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 released its quarterly earnings data 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 business 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 company's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same quarter last year, the company earned $1.74 EPS. On average, analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of research reports. Royal Bank Of Canada reiterated an "outperform" rating and set a $340.00 target price on shares of Workday in a report on Friday, May 23rd. Guggenheim reaffirmed a "neutral" rating on shares of Workday in a research report on Friday, May 23rd. 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. DA Davidson boosted their target price on Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Piper Sandler reaffirmed a "neutral" rating and issued a $255.00 price target (up previously from $230.00) on shares of Workday in a research report on Friday, May 23rd. Nine research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $297.68.

Insider Buying and Selling

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction on Tuesday, July 1st. The stock was sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the transaction, the chief executive officer directly owned 1,472 shares of the company's stock, valued at approximately $352,440.96. The trade was a 80.94% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the stock in a transaction dated Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the transaction, the chief accounting officer directly owned 34,385 shares in the company, valued at approximately $7,789,921.75. This represents a 1.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 331,775 shares of company stock worth $77,836,828. Company insiders own 20.00% of the company's stock.

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.

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