Intech Investment Management LLC Has $3.08 Million Stake in Workday, Inc. (NASDAQ:WDAY)

Intech Investment Management LLC lowered its position in Workday, Inc. (NASDAQ:WDAY) by 31.7% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 12,609 shares of the software maker’s stock after selling 5,853 shares during the quarter. Intech Investment Management LLC’s holdings in Workday were worth $3,082,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of WDAY. Meeder Asset Management Inc. lifted its stake in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the last quarter. Diversified Trust Co raised its stake in Workday by 1.0% in the second 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 during the period. Opal Wealth Advisors LLC lifted its position in shares of Workday by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after buying an additional 47 shares during the last quarter. Mesirow Financial Investment Management Inc. lifted its position in shares of Workday by 3.4% in the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after buying an additional 48 shares during the last quarter. Finally, Aspen Investment Management Inc boosted its stake 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 during the period. Institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

Several brokerages have issued reports on WDAY. Deutsche Bank Aktiengesellschaft raised their price target on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 23rd. JMP Securities restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. Piper Sandler reiterated an “overweight” rating and issued a $285.00 price target on shares of Workday in a research note on Wednesday, September 18th. Bank of America raised their price objective on shares of Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research report on Friday, August 23rd. Finally, KeyCorp upped their target price on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $289.46.

Insider Activity

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

Workday Stock Performance

Shares of Workday stock opened at $267.75 on Friday. The company’s 50 day moving average price is $247.71 and its two-hundred day moving average price is $236.98. The firm has a market capitalization of $70.95 billion, a P/E ratio of 46.65, a P/E/G ratio of 5.32 and a beta of 1.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data 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. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. Workday’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.40 EPS. On average, equities analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

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.