Dimensional Fund Advisors LP Has $56.92 Million Stake in Workday, Inc. $WDAY

Key Points

• Dimensional Fund Advisors reduced its Workday stake by 29.1% in the first quarter, selling 180,035 shares and retaining 438,105 shares worth approximately $56.92 million. Institutional investors collectively own 89.81% of Workday.
• Analyst sentiment remains generally positive, with Workday holding a “Moderate Buy” consensus rating and an average price target of $179.80, despite ratings ranging from “Strong Buy” to “Sell.”
• Workday’s latest quarterly results exceeded expectations, with earnings of $2.66 per share and revenue of $2.54 billion; revenue increased 13.5% year over year. Shares opened at $160.34, up 1.4%.

Dimensional Fund Advisors LP cut its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 29.1% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 438,105 shares of the software maker's stock after selling 180,035 shares during the period. Dimensional Fund Advisors LP owned about 0.17% of Workday worth $56,916,000 as of its most recent SEC filing.

Several other institutional investors have also recently made changes to their positions in WDAY. Auto Owners Insurance Co lifted its position in shares of Workday by 25,412.8% during the 4th quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker's stock worth $2,197,332,000 after buying an additional 10,190,516 shares in the last quarter. Vanguard Group Inc. grew its holdings in shares of Workday by 14.7% in the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker's stock valued at $5,371,495,000 after acquiring an additional 3,210,232 shares in the last quarter. Janus Henderson Group PLC increased its position in shares of Workday by 101.4% during the fourth quarter. Janus Henderson Group PLC now owns 5,017,905 shares of the software maker's stock valued at $1,077,537,000 after acquiring an additional 2,525,821 shares during the last quarter. Norges Bank purchased a new stake in shares of Workday during the fourth quarter valued at approximately $448,804,000. Finally, First Eagle Investment Management LLC lifted its holdings in Workday by 87.8% during the fourth quarter. First Eagle Investment Management LLC now owns 4,338,773 shares of the software maker's stock worth $931,882,000 after acquiring an additional 2,028,085 shares during the period. Institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

WDAY has been the subject of several research reports. Weiss Ratings restated a "sell (d+)" rating on shares of Workday in a research report on Wednesday, June 17th. TD Cowen restated a "hold" rating on shares of Workday in a research note on Friday, May 22nd. Oppenheimer reiterated an "outperform" rating on shares of Workday in a research note on Thursday, June 11th. CLSA assumed coverage on Workday in a research note on Monday, July 20th. They issued an "underperform" rating and a $92.00 price objective on the stock. Finally, Wolfe Research reiterated an "outperform" rating and set a $160.00 target price on shares of Workday in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have given a Hold rating and three have given a Sell rating to the company's stock. According to data from MarketBeat.com, Workday currently has an average rating of "Moderate Buy" and a consensus price target of $179.80.

Workday Trading Up 1.4%

Shares of Workday stock opened at $160.34 on Friday. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85. The company has a market cap of $39.60 billion, a price-to-earnings ratio of 50.11, a PEG ratio of 1.71 and a beta of 1.11. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company's 50-day moving average price is $136.31 and its 200-day moving average price is $140.07.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, beating the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion during the quarter, compared to analysts' expectations of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday's revenue for the quarter was up 13.5% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.23 earnings per share. On average, equities analysts expect that Workday, Inc. will post 5.38 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Zane Rowe sold 6,000 shares of the firm's stock in a transaction dated Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the transaction, the chief financial officer directly owned 288,460 shares of the company's stock, valued at approximately $41,451,702. This trade represents a 2.04% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. 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 5,374 shares of Workday stock in a transaction on Sunday, July 5th. The stock was sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the transaction, the insider owned 239,469 shares in the company, valued at approximately $32,304,368.10. The trade was a 2.19% decrease in their position. The SEC filing for this sale provides additional information. 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 sold 875,020 shares of company stock worth $113,938,503 in the last three months. Corporate insiders own 18.64% of the company's stock.

Workday Company 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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