Workday, Inc. $WDAY Shares Sold by Rivulet Capital LLC

Rivulet Capital LLC cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 89.5% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 38,250 shares of the software maker’s stock after selling 324,911 shares during the quarter. Workday accounts for about 9.0% of Rivulet Capital LLC’s investment portfolio, making the stock its 3rd largest holding. Rivulet Capital LLC’s holdings in Workday were worth $8,215,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. First Eagle Investment Management LLC purchased a new stake in shares of Workday during the 3rd quarter worth about $556,252,000. Norges Bank purchased a new stake in shares of Workday during the 4th quarter worth about $448,804,000. Robeco Institutional Asset Management B.V. raised its stake in shares of Workday by 18.3% during 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 purchasing an additional 88,384 shares in the last quarter. Morningstar Investment Management LLC raised its stake in shares of Workday by 127.2% during the 4th quarter. Morningstar Investment Management LLC now owns 27,043 shares of the software maker’s stock worth $5,808,000 after purchasing an additional 15,138 shares in the last quarter. Finally, Harvest Fund Management Co. Ltd raised its stake in shares of Workday by 40.1% during the 4th quarter. Harvest Fund Management Co. Ltd now owns 55,605 shares of the software maker’s stock worth $11,943,000 after purchasing an additional 15,903 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other Workday news, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total value of $1,201,216.84. Following the sale, the insider owned 165,074 shares of the company’s stock, valued at $21,193,850.86. This trade represents a 5.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 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, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total value of $769,320.00. Following the completion of the sale, the chief financial officer directly owned 217,930 shares in the company, valued at $27,942,984.60. This trade represents a 2.68% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. 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. Over the last three months, insiders have sold 882,314 shares of company stock worth $116,525,216. Insiders own 18.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on WDAY shares. BMO Capital Markets reaffirmed an “outperform” rating on shares of Workday in a research note on Friday, May 22nd. DA Davidson set a $135.00 price objective on Workday in a research note on Tuesday, May 26th. Oppenheimer reissued an “outperform” rating on shares of Workday in a research note on Thursday. Barclays raised Workday from an “overweight” rating to a “buy” rating in a research note on Friday, May 22nd. Finally, Cantor Fitzgerald cut their price objective on Workday from $200.00 to $160.00 and set an “overweight” rating on the stock in a research note on Wednesday, May 20th. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have given a Buy rating, fifteen have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $185.03.

Workday Stock Performance

WDAY opened at $129.60 on Tuesday. The firm has a market capitalization of $32.01 billion, a P/E ratio of 40.50, a price-to-earnings-growth ratio of 1.39 and a beta of 1.09. The stock’s 50 day moving average price is $128.05 and its two-hundred day moving average price is $158.82. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The firm had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company’s revenue was up 13.5% on a year-over-year basis. During the same quarter last year, the firm posted $2.23 EPS. On average, equities analysts forecast that Workday, Inc. will post 5.4 earnings per share for the current year.

Workday 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.