Alamar Capital Management LLC decreased its stake in Workday, Inc. (NASDAQ:WDAY – Free Report) by 48.2% during the third quarter, Holdings Channel.com reports. The institutional investor owned 11,835 shares of the software maker’s stock after selling 11,009 shares during the quarter. Workday accounts for about 1.1% of Alamar Capital Management LLC’s portfolio, making the stock its 28th largest position. Alamar Capital Management LLC’s holdings in Workday were worth $2,254,000 at the end of the most recent quarter.
A number of other institutional investors have also recently made changes to their positions in WDAY. First Trust Advisors LP lifted its position in Workday by 9.6% during the 1st quarter. First Trust Advisors LP now owns 1,416,176 shares of the software maker’s stock worth $183,990,000 after acquiring an additional 124,524 shares during the period. Tidal Investments LLC increased its position in shares of Workday by 43.6% in the second quarter. Tidal Investments LLC now owns 1,439,456 shares of the software maker’s stock worth $176,218,000 after acquiring an additional 437,175 shares in the last quarter. Pacer Advisors Inc. lifted its position in shares of Workday by 60.4% in the 1st quarter. Pacer Advisors Inc. now owns 1,227,051 shares of the software maker’s stock worth $159,418,000 after buying an additional 462,002 shares during the last quarter. Temasek Holdings Private Ltd lifted its holdings in Workday by 9.5% in the 1st quarter. Temasek Holdings Private Ltd now owns 889,318 shares of the software maker’s stock valued at $115,540,000 after acquiring an additional 77,330 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. increased its stake in shares of Workday by 211.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 485,836 shares of the software maker’s stock worth $92,532,000 after purchasing an additional 329,687 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.
Workday Stock Down 3.6%
Workday stock opened at $192.90 on Friday. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $236.80. The company has a market cap of $46.49 billion, a PE ratio of 39.13, a PEG ratio of 1.99 and a beta of 1.02. The business’s 50-day simple moving average is $194.33 and its two-hundred day simple moving average is $156.48. The company has a debt-to-equity ratio of 0.31, a quick ratio of 0.91 and a current ratio of 0.91.
Workday (NASDAQ:WDAY – Get Free Report) last released its earnings results on Thursday, August 27th. The software maker reported $2.75 EPS for the quarter, beating analysts’ consensus estimates of $2.61 by $0.14. The company had revenue of $2.65 billion during the quarter, compared to the consensus estimate of $2.64 billion. Workday had a return on equity of 20.95% and a net margin of 12.32%. Workday’s quarterly revenue was up 12.8% compared to the same quarter last year. During the same quarter last year, the company earned $2.21 earnings per share. Equities analysts anticipate that Workday, Inc. will post 5.32 EPS for the current year.
Wall Street Analyst Weigh In
Several equities analysts have recently commented on the company. Royal Bank Of Canada upped their target price on Workday from $220.00 to $240.00 and gave the company an “outperform” rating in a research report on Friday, August 28th. Cantor Fitzgerald reissued an “overweight” rating and issued a $205.00 target price (down from $220.00) on shares of Workday in a research report on Wednesday, September 30th. BNP Paribas Exane raised their price objective on Workday from $160.00 to $220.00 and gave the stock an “outperform” rating in a report on Friday, August 28th. JPMorgan Chase & Co. upped their target price on Workday from $190.00 to $225.00 and gave the company an “overweight” rating in a research report on Friday, August 28th. Finally, Loop Capital boosted their target price on shares of Workday from $135.00 to $200.00 and gave the stock a “hold” rating in a research report on Friday, August 21st. Twenty-two research analysts have rated the stock with a Buy rating, nineteen have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat, Workday presently has a consensus rating of “Hold” and an average target price of $202.10.
Read Our Latest Analysis on Workday
Insider Activity
In other Workday news, major shareholder David Duffield sold 100,780 shares of the business’s stock in a transaction that occurred on Thursday, September 10th. The shares were sold at an average price of $185.64, for a total transaction of $18,708,799.20. Following the sale, the insider directly owned 105,049 shares of the company’s stock, valued at $19,501,296.36. The trade was a 48.96% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 988,104 shares of company stock worth $188,811,574. Corporate insiders own 18.64% of the company’s stock.
Workday Profile
Workday, Inc develops cloud-based software for managing human resources, finance and business operations. Its products include Workday Human Capital Management, Workday Financial Management and Workday Adaptive Planning, which help organizations manage areas such as workforce administration, accounting, budgeting and forecasting.
Founded in 2005 by Dave Duffield and Aneel Bhusri, Workday serves businesses, governments and educational institutions across a range of industries. Its operations and customer base extend across North America and international markets.
Carl Eschenbach is Workday’s chief executive officer, and co-founder Aneel Bhusri serves as executive chair.
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