Versor Investments LP Lowers Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Versor Investments LP lessened its stake in Workday, Inc. (NASDAQ:WDAY) by 87.4% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,000 shares of the software maker’s stock after selling 6,958 shares during the quarter. Versor Investments LP’s holdings in Workday were worth $244,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WDAY. Dorsey & Whitney Trust CO LLC boosted its holdings in shares of Workday by 4.4% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker’s stock valued at $281,000 after purchasing an additional 43 shares during the last quarter. Diversified Trust Co grew its holdings in Workday by 1.0% during the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock valued at $1,080,000 after buying an additional 47 shares in the last quarter. Opal Wealth Advisors LLC increased its stake in Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after acquiring an additional 47 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in shares of Workday by 3.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock worth $324,000 after acquiring an additional 48 shares in the last quarter. Finally, Aspen Investment Management Inc raised its holdings in shares of Workday by 3.1% during the 2nd quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker’s stock worth $369,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Insider Activity at Workday

In other news, major shareholder David A. Duffield sold 66,492 shares of the firm’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This trade represents a 39.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the transaction, the director now directly owns 8,674 shares in the company, valued at $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 370,575 shares of company stock valued at $91,506,897 over the last quarter. 20.00% of the stock is owned by corporate insiders.

Workday Trading Down 4.4 %

NASDAQ:WDAY opened at $259.41 on Friday. The firm has a 50-day simple moving average of $246.74 and a 200-day simple moving average of $236.60. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The firm has a market cap of $68.74 billion, a P/E ratio of 45.19, a P/E/G ratio of 5.39 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the prior year, the business earned $0.40 earnings per share. Workday’s revenue was up 16.5% on a year-over-year basis. Equities analysts anticipate that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of recent research reports. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price target on shares of Workday in a research note on Thursday, September 19th. Needham & Company LLC dropped their price target on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research report on Wednesday, September 18th. Citigroup lowered their price objective on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Wells Fargo & Company boosted their target price on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Morgan Stanley decreased their price target on Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $287.59.

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.