Workday, Inc. (NASDAQ:WDAY) Shares Sold by Blair William & Co. IL

Key Points

• Blair William & Co. IL reduced its stake in Workday, Inc. by 1.1%, now holding approximately 1.1 million shares, which represents about 0.8% of their portfolio.
• Several institutional investors have increased their stakes in Workday, with The Manufacturers Life Insurance Company boosting its holdings by 60.7% during the fourth quarter.
• Workday recently reported a quarterly earnings of $2.23 per share, exceeding consensus estimates, along with a revenue of $2.24 billion, reflecting a 12.6% increase year-over-year.

Blair William & Co. IL reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 1.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,110,590 shares of the software maker's stock after selling 12,516 shares during the quarter. Workday comprises approximately 0.8% of Blair William & Co. IL's portfolio, making the stock its 29th largest holding. Blair William & Co. IL owned about 0.42% of Workday worth $259,356,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of WDAY. The Manufacturers Life Insurance Company increased its stake in Workday by 60.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock valued at $960,454,000 after purchasing an additional 1,406,088 shares during the period. Brown Advisory Inc. boosted its holdings in shares of Workday by 1.5% in the fourth quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock valued at $911,027,000 after acquiring an additional 52,104 shares in the last quarter. FIL Ltd boosted its holdings in Workday by 6.5% during the fourth quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock worth $764,575,000 after buying an additional 181,899 shares in the last quarter. T. Rowe Price Investment Management Inc. purchased a new stake in Workday during the fourth quarter worth about $658,735,000. Finally, Northern Trust Corp boosted its holdings in Workday by 51.2% during the fourth quarter. Northern Trust Corp now owns 2,263,981 shares of the software maker's stock worth $584,175,000 after buying an additional 767,034 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several recent research reports. Stifel Nicolaus reduced their price target on shares of Workday from $310.00 to $275.00 and set a "hold" rating on the stock in a report on Friday, May 23rd. Westpark Capital upped their price target on shares of Workday from $315.00 to $328.00 and gave the stock a "buy" rating in a research report on Friday, May 23rd. Piper Sandler reaffirmed an "underweight" rating and set a $235.00 price target (down previously from $255.00) on shares of Workday in a research report on Thursday, July 10th. KeyCorp dropped their price objective on shares of Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Finally, Loop Capital dropped their price objective on shares of Workday from $285.00 to $250.00 and set a "hold" rating for the company in a research report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have issued a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, Workday currently has an average rating of "Moderate Buy" and a consensus price target of $296.88.

Workday Stock Down 3.1%

Shares of NASDAQ:WDAY opened at $222.22 on Friday. 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 3.36 and a beta of 1.24. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company's fifty day moving average is $239.40 and its two-hundred day moving average is $246.13. 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 (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, beating the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. Workday's quarterly revenue was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $1.74 EPS. Equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Insider Transactions at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of the firm's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the transaction, the chief financial officer owned 178,418 shares of the company's stock, valued at approximately $42,747,168.62. This trade represents a 3.25% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 451 shares of the firm's stock in a transaction dated Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the transaction, the chief accounting officer directly owned 42,977 shares in the company, valued at approximately $10,093,578.22. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 329,005 shares of company stock worth $79,203,523 over the last 90 days. Corporate insiders own 19.31% of the company's stock.

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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