Kayne Anderson Rudnick Investment Management LLC Trims Position in Workday, Inc. (NASDAQ:WDAY)

Kayne Anderson Rudnick Investment Management LLC decreased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 4.5% during the second quarter, Holdings Channel reports. The institutional investor owned 180,585 shares of the software maker’s stock after selling 8,584 shares during the period. Kayne Anderson Rudnick Investment Management LLC’s holdings in Workday were worth $40,372,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Legacy Financial Advisors Inc. lifted its position in shares of Workday by 7.9% in the second quarter. Legacy Financial Advisors Inc. now owns 999 shares of the software maker’s stock valued at $223,000 after acquiring an additional 73 shares in the last quarter. Skandinaviska Enskilda Banken AB publ raised its stake in Workday by 13.0% during the 2nd quarter. Skandinaviska Enskilda Banken AB publ now owns 47,060 shares of the software maker’s stock valued at $10,521,000 after purchasing an additional 5,419 shares during the period. AE Wealth Management LLC lifted its holdings in Workday by 8.1% in the 2nd quarter. AE Wealth Management LLC now owns 11,392 shares of the software maker’s stock worth $2,547,000 after purchasing an additional 851 shares in the last quarter. Hollencrest Capital Management boosted its stake in Workday by 13.0% in the 2nd quarter. Hollencrest Capital Management now owns 1,041 shares of the software maker’s stock worth $233,000 after purchasing an additional 120 shares during the period. Finally, Canada Pension Plan Investment Board grew its holdings in Workday by 38.4% during the 2nd quarter. Canada Pension Plan Investment Board now owns 101,370 shares of the software maker’s stock valued at $22,662,000 after buying an additional 28,102 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Up 0.3 %

Shares of NASDAQ WDAY opened at $248.29 on Friday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The firm has a 50-day simple moving average of $237.48 and a two-hundred day simple moving average of $242.12. The company has a market cap of $65.80 billion, a P/E ratio of 44.74, a PEG ratio of 5.07 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. Workday’s revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $0.40 EPS. Research analysts anticipate that Workday, Inc. will post 2.39 earnings per share for the current year.

Insider Activity

In related news, major shareholder David A. Duffield sold 78,279 shares of the firm’s stock in a transaction dated Monday, July 1st. The shares were sold at an average price of $223.89, for a total value of $17,525,885.31. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $23,059,998.33. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction on Monday, July 8th. The stock was sold at an average price of $226.67, for a total value of $710,383.78. Following the transaction, the insider now owns 92,014 shares in the company, valued at $20,856,813.38. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 467,402 shares of company stock valued at $109,864,184. 20.00% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently commented on WDAY shares. Deutsche Bank Aktiengesellschaft boosted their target price on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Loop Capital increased their price objective on shares of Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. DA Davidson raised their price objective on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research report on Friday, August 23rd. Needham & Company LLC decreased their target price on Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday. Finally, Bank of America raised their price target on Workday from $265.00 to $310.00 and gave the company a “buy” rating in a 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 issued a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $286.48.

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.