ABN Amro Investment Solutions Decreases Stock Position in Workday, Inc. $WDAY

ABN Amro Investment Solutions lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 22.5% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 153,464 shares of the software maker’s stock after selling 44,522 shares during the quarter. ABN Amro Investment Solutions’ holdings in Workday were worth $32,961,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of WDAY. First Eagle Investment Management LLC bought a new stake in shares of Workday in the 3rd quarter worth about $556,252,000. Phoenix Financial Ltd. bought a new stake in shares of Workday in the 3rd quarter worth about $2,000,000. Rakuten Investment Management Inc. bought a new stake in shares of Workday in the 3rd quarter worth about $124,718,000. Robeco Institutional Asset Management B.V. increased its holdings in shares of Workday by 18.3% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 571,766 shares of the software maker’s stock worth $122,804,000 after buying an additional 88,384 shares during the last quarter. Finally, Sienna Gestion bought a new stake in shares of Workday in the 3rd quarter worth about $7,948,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $126.61 on Thursday. The company has a market capitalization of $32.54 billion, a price-to-earnings ratio of 49.07, a PEG ratio of 1.26 and a beta of 1.04. Workday, Inc. has a 12 month low of $110.36 and a 12 month high of $274.11. The firm’s 50-day moving average is $126.51 and its 200 day moving average is $170.40. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. The business had revenue of $2.53 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. The company’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.92 EPS. Research analysts predict that Workday, Inc. will post 5.11 EPS for the current year.

Analyst Ratings Changes

A number of analysts have recently weighed in on WDAY shares. Raymond James Financial restated a “market perform” rating on shares of Workday in a report on Monday, February 9th. Piper Sandler reduced their target price on shares of Workday from $200.00 to $135.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. The Goldman Sachs Group reduced their target price on shares of Workday from $238.00 to $206.00 and set a “neutral” rating on the stock in a report on Wednesday, February 25th. Oppenheimer reduced their target price on shares of Workday from $200.00 to $165.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Finally, Stifel Nicolaus set a $175.00 target price on shares of Workday in a report on Monday, February 9th. Nineteen equities research analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have issued a Sell rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $198.42.

Insider Transactions at Workday

In other Workday news, insider Gerrit S. Kazmaier sold 9,356 shares of the company’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the transaction, the insider directly owned 165,074 shares in the company, valued at $21,193,850.86. This represents a 5.36% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 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 company’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 completion of 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 sold a total of 989,814 shares of company stock worth $131,576,291 over the last 90 days. Insiders own 18.64% of the company’s stock.

Workday Company Profile

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.