Lyell Wealth Management LP Has $15.38 Million Holdings in Workday, Inc. $WDAY

Key Points

• Lyell Wealth Management LP reduced its Workday stake by 12.2% in the fourth quarter, selling 9,963 shares and ending with 71,598 shares worth about $15.38 million.
• Workday reported better-than-expected fiscal results, with quarterly EPS of $2.66 versus estimates of $2.51 and revenue of $2.54 billion, up 13.5% year over year.
• Analysts remain mixed but generally positive: the stock has a Moderate Buy consensus and an average price target of $185.03, though some firms recently cut targets or downgraded the shares.

Lyell Wealth Management LP cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 12.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 71,598 shares of the software maker's stock after selling 9,963 shares during the period. Lyell Wealth Management LP's holdings in Workday were worth $15,378,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently added to or reduced their stakes in WDAY. Brighton Jones LLC lifted its position 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 purchasing an additional 2,792 shares during the period. Empowered Funds LLC lifted its position in Workday by 12.1% during the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker's stock valued at $2,602,000 after purchasing an additional 1,206 shares during the period. Geneos Wealth Management Inc. lifted its position in Workday by 211.7% during the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker's stock valued at $44,000 after purchasing an additional 127 shares during the period. Sivia Capital Partners LLC acquired a new position in Workday during the 2nd quarter valued at about $281,000. Finally, NewEdge Advisors LLC lifted its position in Workday by 32.0% during the 2nd quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker's stock valued at $1,583,000 after purchasing an additional 1,600 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $130.53 on Friday. The company has a market capitalization of $32.24 billion, a price-to-earnings ratio of 40.79, a P/E/G ratio of 1.46 and a beta of 1.09. The firm's 50 day simple moving average is $128.07 and its 200 day simple moving average is $160.22. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $253.54.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business's quarterly revenue was up 13.5% on a year-over-year basis. During the same period last year, the company posted $2.23 EPS. As a group, sell-side analysts forecast that Workday, Inc. will post 5.4 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms have issued reports on WDAY. Weiss Ratings downgraded shares of Workday from a "hold (c-)" rating to a "sell (d+)" rating in a research report on Friday, March 20th. Cantor Fitzgerald cut their target price on shares of Workday from $200.00 to $160.00 and set an "overweight" rating on the stock in a research report on Wednesday, May 20th. DA Davidson set a $135.00 target price on shares of Workday in a research report on Tuesday, May 26th. Sanford C. Bernstein reiterated an "outperform" rating and issued a $216.00 price target on shares of Workday in a research report on Friday, May 22nd. Finally, Barclays upgraded shares of Workday from an "overweight" rating to a "buy" rating in a research report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and an average price target of $185.03.

Insider Activity

In other Workday news, CFO Zane Rowe sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total transaction of $769,320.00. Following the sale, the chief financial officer directly owned 217,930 shares in the company, valued at approximately $27,942,984.60. This trade represents a 2.68% 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, CAO Mark S. Garfield sold 1,585 shares of the firm's stock in a transaction that occurred on Friday, April 10th. The stock was sold at an average price of $113.05, for a total transaction of $179,184.25. Following the sale, the chief accounting officer owned 31,467 shares in the company, valued at $3,557,344.35. This trade represents a 4.80% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 774,814 shares of company stock worth $102,709,316. 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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