Raiffeisen Bank International AG Sells 18,161 Shares of Workday, Inc. $WDAY

Key Points

• Raiffeisen Bank International AG cut its Workday stake by 98.6% in the second quarter, selling 18,161 shares and retaining just 261 shares valued at approximately $32,000.
• Workday reported quarterly adjusted earnings of $2.75 per share, beating estimates of $2.61, while revenue rose 12.8% year over year to $2.65 billion.
• Analysts maintain a consensus “Hold” rating with an average price target of $206.34; institutional investors own 89.81% of Workday, while insiders have sold $116.8 million of stock over the past 90 days.

Raiffeisen Bank International AG lessened its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 98.6% during the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 261 shares of the software maker's stock after selling 18,161 shares during the quarter. Raiffeisen Bank International AG's holdings in Workday were worth $32,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Strategic Investment Advisors MI boosted its position in shares of Workday by 1.6% in the 2nd quarter. Strategic Investment Advisors MI now owns 3,263 shares of the software maker's stock worth $777,000 after purchasing an additional 50 shares in the last quarter. L2 Asset Management LLC raised its stake in Workday by 7.8% during the fourth quarter. L2 Asset Management LLC now owns 1,079 shares of the software maker's stock valued at $232,000 after buying an additional 78 shares during the last quarter. Oregon Public Employees Retirement Fund raised its stake in Workday by 0.3% during the fourth quarter. Oregon Public Employees Retirement Fund now owns 24,798 shares of the software maker's stock valued at $5,326,000 after buying an additional 80 shares during the last quarter. Colonial Trust Co SC boosted its holdings in Workday by 45.8% in the fourth quarter. Colonial Trust Co SC now owns 280 shares of the software maker's stock worth $60,000 after acquiring an additional 88 shares in the last quarter. Finally, Scotia Capital Inc. boosted its holdings in Workday by 5.4% in the third quarter. Scotia Capital Inc. now owns 1,759 shares of the software maker's stock worth $423,000 after acquiring an additional 90 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Insiders Place Their Bets

In other Workday news, insider Robert Enslin sold 5,374 shares of the business's stock in a transaction on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total transaction of $724,952.60. Following the completion of the sale, the insider directly 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 sale was disclosed in a filing with the Securities & Exchange Commission, 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, insider Gerrit Kazmaier sold 2,728 shares of the firm's stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.62, for a total value of $391,795.36. Following the completion of the transaction, the insider owned 266,388 shares in the company, valued at approximately $38,258,644.56. This trade represents a 1.01% 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. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Insiders have sold a total of 862,481 shares of company stock worth $116,785,581 in the last 90 days. Insiders own 18.64% of the company's stock.

Workday Price Performance

WDAY opened at $195.79 on Monday. The company's 50-day simple moving average is $166.01 and its two-hundred day simple moving average is $142.60. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91. The stock has a market capitalization of $48.36 billion, a P/E ratio of 39.71, a P/E/G ratio of 1.98 and a beta of 1.08. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, topping analysts' consensus estimates of $2.61 by $0.14. The firm had revenue of $2.65 billion during the quarter, compared to analyst estimates of $2.64 billion. Workday had a net margin of 12.32% and a return on equity of 20.95%. The business's revenue for the quarter was up 12.8% on a year-over-year basis. During the same period in the previous year, the business posted $2.21 earnings per share. As a group, analysts predict that Workday, Inc. will post 5.3 EPS for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on WDAY. Wall Street Zen upgraded Workday from a "hold" rating to a "buy" rating in a report on Saturday. DA Davidson upped their price target on shares of Workday from $135.00 to $190.00 and gave the stock a "neutral" rating in a research note on Friday, August 28th. Wolfe Research reissued an "outperform" rating and set a $160.00 price objective on shares of Workday in a research report on Friday, May 22nd. Citigroup raised their price objective on shares of Workday from $139.00 to $201.00 and gave the company a "neutral" rating in a research note on Friday, August 28th. Finally, Weiss Ratings raised shares of Workday from a "sell (d+)" rating to a "hold (c-)" rating in a report on Thursday, August 13th. Twenty equities research analysts have rated the stock with a Buy rating, seventeen have issued a Hold rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $206.34.

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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