Workday, Inc. (NASDAQ:WDAY) Shares Sold by Planning Capital Management Corp

Planning Capital Management Corp trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY) by 56.3% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 135 shares of the software maker’s stock after selling 174 shares during the quarter. Planning Capital Management Corp’s holdings in Workday were worth $33,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Workday during the third quarter worth approximately $26,000. Crewe Advisors LLC acquired a new position in Workday during the 1st quarter worth about $27,000. SouthState Corp lifted its stake in Workday by 614.3% during the 2nd quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after acquiring an additional 129 shares in the last quarter. Goodman Advisory Group LLC acquired a new position in Workday during the 2nd quarter worth about $35,000. Finally, Asset Dedication LLC acquired a new position in Workday during the 2nd quarter worth about $36,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This represents a 39.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of the 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 owns 8,674 shares in the company, valued at $2,097,806.90. This represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 370,575 shares of company stock worth $91,506,897 in the last quarter. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Workday in a research report on Wednesday, September 18th. Stifel Nicolaus increased their price target on Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft increased their price target on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Wells Fargo & Company increased their price target on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, The Goldman Sachs Group increased their price target on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $287.59.

Workday Price Performance

WDAY opened at $271.49 on Friday. The stock has a market cap of $71.94 billion, a price-to-earnings ratio of 47.30, a PEG ratio of 5.49 and a beta of 1.35. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a fifty day moving average price of $246.33 and a 200 day moving average price of $236.28.

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

Workday 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.