EULAV Asset Management Sells 16,000 Shares of Workday, Inc. $WDAY

EULAV Asset Management reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 26.2% during the 4th quarter, HoldingsChannel reports. The fund owned 45,000 shares of the software maker’s stock after selling 16,000 shares during the quarter. EULAV Asset Management’s holdings in Workday were worth $9,665,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WDAY. Brighton Jones LLC lifted its position in Workday by 230.2% in the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after acquiring an additional 2,792 shares in the last quarter. Empowered Funds LLC increased its stake in Workday by 12.1% in the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after buying an additional 1,206 shares during the last quarter. Geneos Wealth Management Inc. increased its stake in Workday by 211.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after buying an additional 127 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in Workday in the 2nd quarter valued at $281,000. Finally, NewEdge Advisors LLC increased its stake in Workday by 32.0% in the 2nd quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock valued at $1,583,000 after buying an additional 1,600 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WDAY has been the topic of several recent research reports. Barclays upgraded shares of Workday from an “overweight” rating to a “buy” rating in a research note on Friday, May 22nd. Sanford C. Bernstein reiterated an “outperform” rating and issued a $216.00 price target on shares of Workday in a research note on Friday, May 22nd. Cantor Fitzgerald lowered their price target on shares of Workday from $200.00 to $160.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 20th. Royal Bank Of Canada reiterated an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. Finally, Wolfe Research reiterated an “outperform” rating and issued a $160.00 price target on shares of Workday in a research note on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $185.03.

Insider Activity

In other news, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total transaction of $769,320.00. Following the transaction, the chief financial officer directly owned 217,930 shares in the company, valued at $27,942,984.60. The trade was a 2.68% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at 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 dated Tuesday, March 31st. The stock was sold at an average price of $129.76, for a total transaction of $13,949,200.00. Following the transaction, the insider owned 105,049 shares in the company, valued at $13,631,158.24. This represents a 50.58% decrease in their ownership of the stock. 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 have sold 774,814 shares of company stock valued at $101,308,591 over the last quarter. 18.64% of the stock is currently owned by company insiders.

Workday Stock Down 2.5%

Workday stock opened at $144.28 on Friday. The firm has a market capitalization of $35.64 billion, a PE ratio of 45.09, a P/E/G ratio of 1.63 and a beta of 1.09. The company’s 50-day moving average is $127.25 and its 200-day moving average is $163.05. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $257.09. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping the consensus estimate of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday’s revenue for the quarter was up 13.5% compared to the same quarter last year. During the same period in the previous year, the business earned $2.23 EPS. Sell-side analysts anticipate that Workday, Inc. will post 5.18 earnings per share for the current year.

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.