Hyperion Asset Management Ltd Lowers Holdings in Workday, Inc. $WDAY

Hyperion Asset Management Ltd lowered its position in Workday, Inc. (NASDAQ:WDAY) by 76.1% during the 3rd quarter, Holdings Channel reports. The firm owned 144,395 shares of the software maker’s stock after selling 459,000 shares during the quarter. Workday comprises approximately 1.0% of Hyperion Asset Management Ltd’s investment portfolio, making the stock its 18th largest holding. Hyperion Asset Management Ltd’s holdings in Workday were worth $34,760,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Brighton Jones LLC grew its position in shares of Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after buying an additional 2,792 shares in the last quarter. Empowered Funds LLC raised its holdings in shares of Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after acquiring an additional 1,206 shares in the last quarter. Geneos Wealth Management Inc. raised its holdings in shares of Workday by 211.7% in the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after acquiring an additional 127 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in Workday in the second quarter worth about $281,000. Finally, Commonwealth of Pennsylvania Public School Empls Retrmt SYS grew its holdings in Workday by 8.6% during the 2nd quarter. Commonwealth of Pennsylvania Public School Empls Retrmt SYS now owns 53,131 shares of the software maker’s stock worth $12,751,000 after acquiring an additional 4,192 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have commented on WDAY. Wells Fargo & Company cut their target price on shares of Workday from $255.00 to $180.00 and set an “overweight” rating on the stock in a research report on Wednesday, February 25th. BTIG Research cut their price objective on shares of Workday from $230.00 to $175.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Oppenheimer reduced their price objective on shares of Workday from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Morgan Stanley lowered their target price on Workday from $280.00 to $200.00 and set an “equal weight” rating for the company in a report on Monday, February 23rd. Finally, JPMorgan Chase & Co. cut their target price on Workday from $270.00 to $230.00 and set an “overweight” rating on the stock in a research note on Tuesday, February 24th. Twenty investment analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $203.00.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 107,500 shares of the firm’s stock in a transaction that occurred on Tuesday, March 10th. The stock was sold at an average price of $142.18, for a total value of $15,284,350.00. Following the sale, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $14,935,866.82. This trade represents a 50.58% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 953 shares of Workday stock in a transaction on Thursday, January 8th. The shares were sold at an average price of $209.56, for a total transaction of $199,710.68. Following the completion of the sale, the chief accounting officer directly owned 35,336 shares in the company, valued at $7,405,012.16. This represents a 2.63% decrease in their position. The SEC filing for this sale provides additional information. Over the last three months, insiders sold 610,796 shares of company stock worth $107,013,566. 20.00% of the stock is currently owned by corporate insiders.

Workday Price Performance

Shares of NASDAQ WDAY opened at $133.09 on Monday. The business’s 50 day moving average price is $164.66 and its 200 day moving average price is $205.82. The firm has a market cap of $34.20 billion, a P/E ratio of 51.59, a P/E/G ratio of 1.29 and a beta of 1.17. Workday, Inc. has a 52 week low of $117.76 and a 52 week high of $276.00. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating the consensus estimate of $2.32 by $0.15. Workday had a net margin of 7.26% and a return on equity of 13.37%. The company had revenue of $2.53 billion for the quarter, compared to analyst estimates of $2.52 billion. During the same period in the prior year, the company earned $1.92 earnings per share. The firm’s revenue was up 14.5% on a year-over-year basis. On average, sell-side analysts expect that Workday, Inc. will post 2.63 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.