Graypoint LLC Trims Position in Workday, Inc. (NASDAQ:WDAY)

Graypoint LLC reduced its holdings in Workday, Inc. (NASDAQ:WDAY) by 3.6% during the 4th quarter, Holdings Channel reports. The fund owned 2,426 shares of the software maker’s stock after selling 90 shares during the period. Graypoint LLC’s holdings in Workday were worth $626,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. The Manufacturers Life Insurance Company grew its position in Workday by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after purchasing an additional 1,016,394 shares during the period. Two Sigma Advisers LP grew its holdings in Workday by 1,094.2% during the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after acquiring an additional 562,400 shares during the period. Janus Henderson Group PLC raised its position in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares in the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in Workday in the 3rd quarter worth approximately $78,003,000. Finally, D1 Capital Partners L.P. grew its stake in shares of Workday by 152.1% during the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after purchasing an additional 312,500 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

Shares of Workday stock opened at $249.71 on Friday. The stock has a market capitalization of $66.42 billion, a price-to-earnings ratio of 41.41, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The business has a 50-day moving average of $262.56 and a 200 day moving average of $245.91. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 earnings per share. As a group, sell-side analysts forecast that Workday, Inc. will post 2.58 earnings per share for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 70,090 shares of Workday stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total value of $17,840,007.70. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $26,215,826.41. The trade was a 40.49 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 438,347 shares of company stock valued at $112,778,463. 20.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on the stock. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Wells Fargo & Company raised their target price on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. BMO Capital Markets reiterated an “outperform” rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, September 18th. Barclays decreased their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Finally, Piper Sandler reissued a “neutral” rating and issued a $270.00 price target (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Seven research analysts have rated the stock with a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $292.25.

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.