Workday, Inc. $WDAY Stock Sold by Mondrian Investment Partners LTD

Mondrian Investment Partners LTD reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 41.3% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 383,051 shares of the software maker’s stock after selling 269,609 shares during the quarter. Workday accounts for 1.6% of Mondrian Investment Partners LTD’s portfolio, making the stock its 23rd largest position. Mondrian Investment Partners LTD owned about 0.16% of Workday worth $72,956,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. Lead Edge Capital Management LLC acquired a new position in shares of Workday during the 1st quarter valued at $79,988,000. Renaissance Technologies LLC purchased a new stake in Workday during the 1st quarter worth $75,600,000. Pacer Advisors Inc. boosted its position in Workday by 60.4% during the 1st quarter. Pacer Advisors Inc. now owns 1,227,051 shares of the software maker’s stock worth $159,418,000 after purchasing an additional 462,002 shares during the period. Carmignac Gestion acquired a new stake in Workday in the 1st quarter valued at $59,438,000. Finally, Tidal Investments LLC increased its holdings in Workday by 43.6% in the 2nd quarter. Tidal Investments LLC now owns 1,439,456 shares of the software maker’s stock valued at $176,218,000 after purchasing an additional 437,175 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Loop Capital raised their price objective on Workday from $135.00 to $200.00 and gave the company a “hold” rating in a research report on Friday, August 21st. JPMorgan Chase & Co. upped their target price on Workday from $190.00 to $225.00 and gave the stock an “overweight” rating in a research report on Friday, August 28th. Monness Crespi & Hardt increased their target price on Workday from $202.00 to $218.00 and gave the company a “buy” rating in a research note on Friday, August 28th. Bank of America raised their target price on Workday from $140.00 to $205.00 and gave the company a “neutral” rating in a report on Wednesday, August 19th. Finally, CLSA initiated coverage on Workday in a report on Monday, July 20th. They set an “underperform” rating and a $92.00 target price on the stock. Twenty-two research analysts have rated the stock with a Buy rating, twenty have assigned a Hold rating and two have issued a Sell rating to the company. According to data from MarketBeat.com, Workday has a consensus rating of “Hold” and an average target price of $202.10.

Workday Stock Performance

Shares of WDAY stock opened at $209.99 on Friday. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $247.10. The company has a debt-to-equity ratio of 0.31, a current ratio of 0.91 and a quick ratio of 0.91. The firm has a market capitalization of $50.61 billion, a P/E ratio of 42.59, a P/E/G ratio of 2.11 and a beta of 1.07. The company’s fifty day moving average price is $193.30 and its two-hundred day moving average price is $156.25.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 27th. The software maker reported $2.75 earnings per share for the quarter, beating the consensus estimate of $2.61 by $0.14. Workday had a return on equity of 20.95% and a net margin of 12.32%. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. During the same period last year, the firm earned $2.21 earnings per share. The company’s revenue was up 12.8% on a year-over-year basis. On average, research analysts anticipate that Workday, Inc. will post 5.32 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, major shareholder David Duffield sold 100,780 shares of the stock in a transaction dated Thursday, September 10th. The stock was sold at an average price of $185.64, for a total value of $18,708,799.20. Following the completion of the transaction, the insider owned 105,049 shares of the company’s stock, valued at approximately $19,501,296.36. This represents a 48.96% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold a total of 988,104 shares of company stock valued at $188,811,574 in the last 90 days. Insiders own 18.64% of the company’s stock.

Workday Company Profile

Workday, Inc is an enterprise software company that provides cloud-based applications for managing human resources, finance and business operations. Its platform is designed to help organizations manage workforce information, accounting, financial reporting, procurement, expenses and other core business processes through a unified software environment.

The company’s products include human capital management, financial management, financial planning, spend management, payroll, recruiting, talent management, workforce planning, analytics and reporting solutions.