Banque Cantonale Vaudoise Sells 8,913 Shares of Workday, Inc. (NASDAQ:WDAY)

Banque Cantonale Vaudoise lessened its position in Workday, Inc. (NASDAQ:WDAY) by 75.4% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 2,910 shares of the software maker’s stock after selling 8,913 shares during the quarter. Banque Cantonale Vaudoise’s holdings in Workday were worth $711,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently bought and sold shares of WDAY. The Manufacturers Life Insurance Company increased its stake in Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after buying an additional 1,016,394 shares during the last quarter. Van ECK Associates Corp increased its position in shares of Workday by 17,345.2% in the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after acquiring an additional 925,366 shares during the last quarter. D1 Capital Partners L.P. raised its holdings in Workday by 152.1% during the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after acquiring an additional 312,500 shares in the last quarter. Lindbrook Capital LLC boosted its position in Workday by 17,001.6% during the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock valued at $703,000 after purchasing an additional 284,266 shares during the last quarter. Finally, Rokos Capital Management LLP grew its stake in Workday by 332.4% in the first quarter. Rokos Capital Management LLP now owns 332,986 shares of the software maker’s stock valued at $90,839,000 after purchasing an additional 255,971 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Insider Activity at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the sale, the director now owns 97,500 shares in the company, valued at $25,381,200. The trade was a 7.14 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock valued at $91,506,897 over the last ninety days. 20.00% of the stock is owned by corporate insiders.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $268.08 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market capitalization of $71.04 billion, a PE ratio of 46.70, a PEG ratio of 5.16 and a beta of 1.35. The firm has a 50 day moving average of $247.36 and a 200-day moving average of $236.95. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the company earned $0.40 earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. On average, equities research analysts predict that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research firms have weighed in on WDAY. DA Davidson upped their price objective on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Scotiabank initiated coverage on shares of Workday in a research report on Monday. They set a “sector outperform” rating and a $340.00 price target on the stock. Loop Capital lifted their price objective on shares of Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research report on Thursday, November 14th. Piper Sandler reiterated an “overweight” rating and issued a $285.00 target price on shares of Workday in a research note on Wednesday, September 18th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and an average price target of $289.46.

Workday 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.