Mizuho Securities USA LLC Has $4 Million Stake in Workday, Inc. (NASDAQ:WDAY)

Key Points

• Mizuho Securities USA LLC has reduced its stake in Workday, Inc. by 15.1%, now owning 17,135 shares valued at approximately $4 million as of its latest SEC filing.
• Analysts have a mixed outlook on Workday, with Wells Fargo lowering its price target from $360.00 to $325.00 while Needham & Company maintains a buy rating with a target price of $300.00.
• Despite recent insider selling, Workday reported strong quarterly earnings with an EPS of $2.23, surpassing expectations and showing a revenue increase of 12.6% year-over-year.

Mizuho Securities USA LLC lowered its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 15.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 17,135 shares of the software maker's stock after selling 3,053 shares during the quarter. Mizuho Securities USA LLC's holdings in Workday were worth $4,002,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in WDAY. Cornerstone Planning Group LLC boosted its position in Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after buying an additional 54 shares in the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of Workday during the 1st quarter valued at $32,000. Financial Management Professionals Inc. grew its position in Workday by 54.0% during the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after acquiring an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. bought a new stake in Workday during the 1st quarter worth $40,000. Finally, BankPlus Trust Department bought a new position in Workday in the first quarter valued at about $40,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently weighed in on WDAY shares. Wells Fargo & Company reduced their price target on Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. Guggenheim reaffirmed a "neutral" rating on shares of Workday in a research note on Friday, May 23rd. Needham & Company LLC reiterated a "buy" rating and set a $300.00 price target on shares of Workday in a report on Wednesday, May 21st. Loop Capital decreased their price objective on Workday from $285.00 to $250.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Finally, Wall Street Zen raised Workday from a "hold" rating to a "buy" rating in a research report on Sunday, July 13th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $296.88.

Workday Trading Up 0.5%

WDAY opened at $222.07 on Friday. The firm has a market capitalization of $59.29 billion, a PE ratio of 122.69, a P/E/G ratio of 3.36 and a beta of 1.24. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $294.00. The company's 50-day moving average is $237.71 and its 200 day moving average is $245.22.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion during 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 company's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period in the prior year, the business posted $1.74 earnings per share. As a group, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 451 shares of the company's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total value of $105,921.86. Following the completion of the sale, the chief accounting officer owned 42,977 shares in the company, valued at $10,093,578.22. This represents a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the completion of the sale, the director owned 67,500 shares of the company's stock, valued at approximately $16,767,675. This represents a 10.00% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 329,005 shares of company stock worth $79,203,523. 19.31% of the stock is currently owned by insiders.

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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