Lbp Am Sa Has $4.55 Million Stock Position in Workday, Inc. $WDAY

Key Points

• LBP AM SA cut its stake in Workday by 57.6% in the fourth quarter and now holds 21,164 shares valued at about $4.55 million after selling 28,731 shares.
• Analysts maintain a consensus rating of "Moderate Buy" with an average price target of $199.71, though several firms (BTIG, Deutsche Bank, UBS, Barclays) recently lowered their price targets.
• Workday beat quarterly estimates with EPS of $2.47 (vs. $2.32 est.) and revenue of $2.53 billion (up 14.5% YoY), while insiders have sold roughly 989,814 shares over the past three months and now own 19.31% of the company.

Lbp Am Sa lowered its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 57.6% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 21,164 shares of the software maker's stock after selling 28,731 shares during the quarter. Lbp Am Sa's holdings in Workday were worth $4,546,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. First Eagle Investment Management LLC acquired a new stake in shares of Workday during the 3rd quarter worth approximately $556,252,000. PKO Investment Management Joint Stock Co acquired a new stake in shares of Workday during the 3rd quarter worth approximately $1,805,000. Phoenix Financial Ltd. acquired a new stake in shares of Workday during the 3rd quarter worth approximately $2,000,000. Rakuten Investment Management Inc. acquired a new stake in Workday in the 3rd quarter valued at $124,718,000. Finally, EULAV Asset Management boosted its stake in Workday by 69.4% in the 3rd quarter. EULAV Asset Management now owns 61,000 shares of the software maker's stock valued at $14,685,000 after buying an additional 25,000 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Analyst Ratings Changes

WDAY has been the topic of several recent analyst reports. BTIG Research decreased their price target on Workday from $230.00 to $175.00 and set a "buy" rating on the stock in a research note on Wednesday, February 25th. Deutsche Bank Aktiengesellschaft decreased their price target on Workday from $265.00 to $190.00 and set a "buy" rating on the stock in a research note on Wednesday, February 18th. UBS Group decreased their price target on Workday from $170.00 to $130.00 and set a "neutral" rating on the stock in a research note on Wednesday, February 25th. Cantor Fitzgerald reissued an "overweight" rating and issued a $200.00 price objective on shares of Workday in a research note on Monday, February 23rd. Finally, Barclays reduced their price objective on Workday from $230.00 to $200.00 and set an "overweight" rating on the stock in a research note on Wednesday, February 25th. Nineteen investment analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $199.71.

Workday Stock Down 0.8%

NASDAQ:WDAY opened at $123.83 on Friday. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $276.00. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The stock has a market cap of $31.82 billion, a price-to-earnings ratio of 48.00, a PEG ratio of 1.21 and a beta of 1.14. The stock has a 50-day moving average price of $134.19 and a two-hundred day moving average price of $187.83.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.32 by $0.15. The firm had revenue of $2.53 billion during the quarter, compared to analysts' expectations of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.The company's revenue was up 14.5% on a year-over-year basis. During the same period in the previous year, the firm earned $1.92 earnings per share. As a group, equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In related news, insider Gerrit S. Kazmaier sold 9,356 shares of the stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the completion of the transaction, the insider directly owned 165,074 shares of the company's stock, valued at approximately $21,193,850.86. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, 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, major shareholder David A. Duffield sold 107,500 shares of the firm's stock in a transaction that occurred on Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total value of $13,949,200.00. Following the completion of the sale, the insider directly owned 105,049 shares of the company's stock, valued at approximately $13,631,158.24. The trade was a 50.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 989,814 shares of company stock valued at $131,576,291 over the last three months. Insiders own 19.31% of the company's stock.

About Workday

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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