Clarkston Capital Partners LLC Reduces Stock Position in Workday, Inc. $WDAY

Clarkston Capital Partners LLC lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 61.1% during the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 13,850 shares of the software maker’s stock after selling 21,715 shares during the quarter. Clarkston Capital Partners LLC’s holdings in Workday were worth $1,799,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Vanguard Group Inc. boosted its stake in shares of Workday by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock valued at $5,371,495,000 after purchasing an additional 3,210,232 shares during the period. Auto Owners Insurance Co grew its holdings in shares of Workday by 25,412.8% in the fourth quarter. Auto Owners Insurance Co now owns 10,230,616 shares of the software maker’s stock worth $2,197,332,000 after purchasing an additional 10,190,516 shares during the last quarter. State Street Corp increased its stake in Workday by 1.0% in the 4th quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock worth $2,098,552,000 after buying an additional 96,139 shares during the period. Hotchkis & Wiley Capital Management LLC lifted its holdings in Workday by 47.5% during the 3rd quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock valued at $1,406,463,000 after buying an additional 1,882,391 shares in the last quarter. Finally, Geode Capital Management LLC lifted its holdings in Workday by 1.5% during the 4th quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock valued at $1,089,970,000 after buying an additional 75,922 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have issued reports on WDAY. Wall Street Zen raised shares of Workday from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. UBS Group lifted their price target on shares of Workday from $130.00 to $140.00 and gave the company a “neutral” rating in a research note on Friday, May 22nd. Royal Bank Of Canada reiterated an “outperform” rating on shares of Workday in a report on Friday, May 22nd. KeyCorp increased their price objective on Workday from $155.00 to $158.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Finally, Sanford C. Bernstein reaffirmed an “outperform” rating and set a $216.00 target price on shares of Workday in a research report on Friday, May 22nd. One investment analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and three have given a Sell rating to the company. According to MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus target price of $179.80.

Insider Activity at Workday

In other Workday news, insider Robert Enslin sold 5,374 shares of the stock in a transaction dated Sunday, July 5th. The stock was sold at an average price of $134.90, for a total value of $724,952.60. Following the completion of the sale, the insider directly owned 239,469 shares in the company, valued at approximately $32,304,368.10. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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 firm’s stock in a transaction dated Tuesday, June 30th. The stock was sold at an average price of $122.04, for a total value of $13,119,300.00. Following the completion of the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $12,820,179.96. This represents a 50.58% 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. Insiders have sold 875,020 shares of company stock valued at $113,938,503 in the last ninety days. Corporate insiders own 18.64% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $127.87 on Friday. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $249.85. The business’s fifty day simple moving average is $132.93 and its 200-day simple moving average is $141.88. The company has a current ratio of 1.01, a quick ratio of 1.01 and a debt-to-equity ratio of 0.30. The company has a market cap of $31.58 billion, a PE ratio of 39.96, a PEG ratio of 1.40 and a beta of 1.11.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 21st. The software maker reported $2.66 earnings per share for the quarter, topping analysts’ consensus estimates of $2.51 by $0.15. Workday had a return on equity of 14.75% and a net margin of 8.60%.The firm had revenue of $2.54 billion during the quarter, compared to analysts’ expectations of $2.52 billion. During the same quarter last year, the firm earned $2.23 EPS. The business’s quarterly revenue was up 13.5% on a year-over-year basis. Analysts expect that Workday, Inc. will post 5.41 earnings per share for the current fiscal year.

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.