Federated Hermes Inc. Lowers Holdings in Workday, Inc. (NASDAQ:WDAY)

Federated Hermes Inc. lowered its holdings in Workday, Inc. (NASDAQ:WDAY) by 56.8% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 183,289 shares of the software maker’s stock after selling 241,352 shares during the period. Federated Hermes Inc. owned approximately 0.07% of Workday worth $40,976,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in WDAY. Dimensional Fund Advisors LP increased its position in shares of Workday by 1.6% during the fourth quarter. Dimensional Fund Advisors LP now owns 199,304 shares of the software maker’s stock worth $55,020,000 after acquiring an additional 3,231 shares during the period. Avantax Advisory Services Inc. grew its stake in Workday by 28.7% during the 4th quarter. Avantax Advisory Services Inc. now owns 2,890 shares of the software maker’s stock worth $798,000 after purchasing an additional 644 shares in the last quarter. Janney Montgomery Scott LLC increased its holdings in Workday by 13.9% during the 4th quarter. Janney Montgomery Scott LLC now owns 20,703 shares of the software maker’s stock worth $5,715,000 after purchasing an additional 2,527 shares during the period. Foundations Investment Advisors LLC acquired a new stake in Workday in the 4th quarter valued at about $229,000. Finally, Quadrant Capital Group LLC boosted its stake in shares of Workday by 28.0% in the 4th quarter. Quadrant Capital Group LLC now owns 604 shares of the software maker’s stock valued at $167,000 after buying an additional 132 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Friday, June 21st. The shares were sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the completion of the sale, the insider now directly owns 730,000 shares of the company’s stock, valued at approximately $159,563,400. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In related news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the completion of the transaction, the director now owns 90,000 shares of the company’s stock, valued at $22,990,500. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the sale, the insider now directly owns 730,000 shares of the company’s stock, valued at approximately $159,563,400. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 466,402 shares of company stock valued at $107,992,034. Company insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of recent research reports. Deutsche Bank Aktiengesellschaft upped their target price on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. BMO Capital Markets reduced their price objective on shares of Workday from $338.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. TD Cowen lowered their target price on shares of Workday from $330.00 to $290.00 and set a “buy” rating for the company in a research note on Friday, May 24th. DA Davidson raised their price target on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, Morgan Stanley lowered their price objective on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $288.15.

Workday Stock Performance

NASDAQ:WDAY opened at $250.05 on Friday. The company has a market cap of $66.26 billion, a P/E ratio of 45.05, a P/E/G ratio of 5.40 and a beta of 1.35. The firm’s 50 day moving average is $235.24 and its two-hundred day moving average is $243.38. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company’s revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.40 EPS. Analysts expect that Workday, Inc. will post 2.27 EPS for the current year.

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.