Lyell Wealth Management LP Buys 1,781 Shares of Workday, Inc. (NASDAQ:WDAY)

Key Points

• Lyell Wealth Management LP increased its stake in Workday by 1.9%, holding 93,247 shares valued at approximately $21.78 million, making it the fund's 10th largest position.
• Wall Street analysts have mixed views on Workday, with a consensus rating of "Moderate Buy" and an average price target of $296.88, despite some firms lowering their estimates.
• Insider trading activity included significant sales, with Director George J. Still, Jr. selling 7,500 shares, constituting a 10% decrease in his position, amidst a broader trend of insider selling totaling over $79 million in the last ninety days.

Lyell Wealth Management LP increased its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 1.9% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 93,247 shares of the software maker's stock after purchasing an additional 1,781 shares during the quarter. Workday accounts for 2.0% of Lyell Wealth Management LP's holdings, making the stock its 10th biggest position. Lyell Wealth Management LP's holdings in Workday were worth $21,776,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Janney Montgomery Scott LLC lifted its stake in Workday by 5.0% in the 1st quarter. Janney Montgomery Scott LLC now owns 22,645 shares of the software maker's stock valued at $5,288,000 after acquiring an additional 1,070 shares in the last quarter. Kingswood Wealth Advisors LLC lifted its stake in Workday by 13.9% in the 1st quarter. Kingswood Wealth Advisors LLC now owns 1,136 shares of the software maker's stock valued at $265,000 after acquiring an additional 139 shares in the last quarter. Sowell Financial Services LLC bought a new stake in Workday in the 1st quarter valued at approximately $290,000. Nisa Investment Advisors LLC lifted its stake in Workday by 33.8% in the 1st quarter. Nisa Investment Advisors LLC now owns 32,055 shares of the software maker's stock valued at $7,486,000 after acquiring an additional 8,093 shares in the last quarter. Finally, D.A. Davidson & CO. lifted its stake in Workday by 27.8% in the 1st quarter. D.A. Davidson & CO. now owns 1,601 shares of the software maker's stock valued at $374,000 after acquiring an additional 348 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Buying and Selling at Workday

In related news, CAO Mark S. Garfield sold 451 shares of the stock in a transaction that occurred on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total transaction of $105,921.86. Following the sale, the chief accounting officer owned 42,977 shares of the company's stock, valued at $10,093,578.22. This represents a 1.04% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 72,551 shares of the stock in a transaction that occurred 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 sale, the insider directly owned 102,997 shares in the company, valued at $24,679,111.17. This represents a 41.33% 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 over the last ninety days. 19.31% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WDAY shares. JPMorgan Chase & Co. cut their target price on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Citigroup downgraded Workday from a "neutral" rating to a "mixed" rating in a research note on Friday, May 16th. Stifel Nicolaus decreased their price target on Workday from $310.00 to $275.00 and set a "hold" rating for the company in a research note on Friday, May 23rd. Needham & Company LLC restated a "buy" rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, May 21st. Finally, Oppenheimer decreased their price target on Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, Workday has an average rating of "Moderate Buy" and an average target price of $296.88.

Workday Stock Performance

NASDAQ:WDAY traded down $7.16 during mid-day trading on Friday, hitting $222.22. 4,088,210 shares of the stock were exchanged, compared to its average volume of 2,235,786. The stock has a market capitalization of $59.33 billion, a price-to-earnings ratio of 122.77, a price-to-earnings-growth ratio of 3.47 and a beta of 1.24. The firm's 50-day simple moving average is $239.40 and its 200 day simple moving average is $246.15. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00.

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