Workday, Inc. $WDAY Shares Sold by Cetera Investment Advisers

Key Points

• Cetera Investment Advisers cut its Workday stake by 36% in the first quarter, selling 17,402 shares and retaining 30,982 shares valued at approximately $4.03 million. Institutional investors and hedge funds collectively own 89.81% of Workday.
• Workday insiders sold 875,020 shares worth about $113.9 million over the past 90 days, including major shareholder David Duffield’s sale of 107,500 shares under a pre-arranged Rule 10b5-1 plan.
• Analysts maintain a generally positive outlook, with Workday carrying a consensus “Moderate Buy” rating and an average price target of $179.80. The company recently exceeded quarterly earnings and revenue expectations, reporting $2.66 EPS and $2.54 billion in revenue.

Cetera Investment Advisers lessened its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 36.0% in the 1st quarter, according to its most recent filing with the SEC. The firm owned 30,982 shares of the software maker's stock after selling 17,402 shares during the period. Cetera Investment Advisers' holdings in Workday were worth $4,025,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Rakuten Securities Inc. acquired a new stake in shares of Workday during the 2nd quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC acquired a new position in Workday during the third quarter worth $26,000. DT Investment Partners LLC acquired a new position in Workday during the fourth quarter worth $27,000. LRI Investments LLC purchased a new stake in Workday during the fourth quarter worth $29,000. Finally, JPL Wealth Management LLC acquired a new stake in Workday in the third quarter valued at $30,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In related news, insider Gerrit S. Kazmaier sold 2,728 shares of the firm's stock in a transaction that occurred 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 transaction, the insider directly owned 266,388 shares of the company's stock, valued at approximately $38,258,644.56. This trade represents a 1.01% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. 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, major shareholder David A. Duffield sold 107,500 shares of the business's stock in a transaction on Thursday, July 9th. The stock was sold at an average price of $136.74, for a total transaction of $14,699,550.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at $14,364,400.26. This trade represents a 50.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 875,020 shares of company stock valued at $113,938,503 in the last 90 days. Corporate insiders own 18.64% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on WDAY shares. UBS Group increased their price target on shares of Workday from $130.00 to $140.00 and gave the company a "neutral" rating in a research report on Friday, May 22nd. BMO Capital Markets reaffirmed an "outperform" rating on shares of Workday in a research note on Friday, May 22nd. Wolfe Research reiterated an "outperform" rating and set a $160.00 target price on shares of Workday in a report on Friday, May 22nd. KeyCorp raised their price target on Workday from $155.00 to $158.00 and gave the stock an "overweight" rating in a research report on Friday, May 22nd. Finally, Citigroup reissued a "market perform" rating on shares of Workday in a report on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, nineteen have assigned a Buy rating, thirteen have given a Hold rating and three have issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $179.80.

Workday Price Performance

Shares of NASDAQ WDAY opened at $171.28 on Wednesday. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $249.85. The business has a 50 day moving average price of $137.99 and a two-hundred day moving average price of $139.18. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The firm has a market cap of $42.31 billion, a PE ratio of 53.52, a price-to-earnings-growth ratio of 1.76 and a beta of 1.08.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, beating analysts' consensus estimates of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The business had revenue of $2.54 billion during the quarter, compared to the consensus estimate of $2.52 billion. During the same quarter in the prior year, the firm earned $2.23 EPS. The company's revenue for the quarter was up 13.5% compared to the same quarter last year. Sell-side analysts expect that Workday, Inc. will post 5.38 earnings per share for the current fiscal year.

Workday Profile

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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