Workday, Inc. (NASDAQ:WDAY) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 1.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 212,959 shares of the software maker's stock after selling 4,190 shares during the period. Allspring Global Investments Holdings LLC owned 0.08% of Workday worth $49,945,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of Workday by 8.7% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 90,090 shares of the software maker's stock valued at $21,486,000 after acquiring an additional 7,194 shares during the last quarter. PDS Planning Inc boosted its stake in shares of Workday by 12.3% during the first quarter. PDS Planning Inc now owns 1,325 shares of the software maker's stock valued at $309,000 after acquiring an additional 145 shares during the last quarter. Beech Hill Advisors Inc. boosted its stake in shares of Workday by 2.1% during the first quarter. Beech Hill Advisors Inc. now owns 6,709 shares of the software maker's stock valued at $1,567,000 after acquiring an additional 135 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of Workday by 10.6% during the first quarter. Sequoia Financial Advisors LLC now owns 3,532 shares of the software maker's stock valued at $825,000 after acquiring an additional 339 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its position in Workday by 1.2% during the first quarter. Robeco Institutional Asset Management B.V. now owns 354,398 shares of the software maker's stock worth $82,763,000 after buying an additional 4,160 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Activity

In other Workday news, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction that occurred on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the sale, the chief accounting officer now owns 34,385 shares in the company, valued at $7,789,921.75. This trade represents a 1.42% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 73,971 shares of the firm's stock in a transaction that occurred on Tuesday, June 24th. The shares were sold at an average price of $238.66, for a total value of $17,653,918.86. Following the sale, the insider now owns 102,997 shares of the company's stock, valued at approximately $24,581,264.02. This trade represents a 41.80% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 255,733 shares of company stock worth $59,649,301. 19.31% of the stock is currently owned by corporate insiders.

Workday Price Performance

WDAY stock opened at $237.37 on Monday. 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 1 year low of $199.81 and a 1 year high of $294.00. The firm has a market cap of $63.38 billion, a P/E ratio of 131.14, a price-to-earnings-growth ratio of 3.59 and a beta of 1.24. The stock has a 50-day simple moving average of $247.98 and a 200-day simple moving average of $250.57.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%. The business had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. During the same quarter last year, the firm earned $1.74 earnings per share. The company's revenue for the quarter was up 12.6% compared to the same quarter last year. On average, equities analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms recently weighed in on WDAY. Piper Sandler reiterated a "neutral" rating and set a $255.00 target price (up from $230.00) on shares of Workday in a research report on Friday, May 23rd. Loop Capital reduced their target price on Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a research report on Friday, May 23rd. Needham & Company LLC reiterated a "buy" rating and set a $300.00 target price on shares of Workday in a research report on Wednesday, May 21st. Scotiabank reduced their target price on Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a research report on Monday, March 17th. Finally, Guggenheim reiterated a "neutral" rating on shares of Workday in a research report on Friday, May 23rd. Nine equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $297.68.

Workday Company 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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