STF Management LP Sells 141 Shares of Workday, Inc. (NASDAQ:WDAY)

STF Management LP reduced its position in Workday, Inc. (NASDAQ:WDAY) by 4.1% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 3,340 shares of the software maker’s stock after selling 141 shares during the quarter. STF Management LP’s holdings in Workday were worth $747,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Carolinas Wealth Consulting LLC lifted its position in Workday by 9.7% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after purchasing an additional 34 shares during the period. Congress Wealth Management LLC DE raised its stake in Workday by 2.4% during the fourth quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock worth $458,000 after acquiring an additional 39 shares in the last quarter. Raleigh Capital Management Inc. raised its stake in Workday by 4.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock worth $240,000 after acquiring an additional 39 shares in the last quarter. Hudson Value Partners LLC raised its stake in Workday by 0.8% during the fourth quarter. Hudson Value Partners LLC now owns 5,135 shares of the software maker’s stock worth $1,418,000 after acquiring an additional 40 shares in the last quarter. Finally, D.A. Davidson & CO. raised its stake in Workday by 3.5% during the fourth quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock worth $343,000 after acquiring an additional 42 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Activity

In other news, major shareholder David A. Duffield sold 78,279 shares of the company’s stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $23,059,998.33. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the completion of the sale, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $23,059,998.33. The disclosure for this sale can be found here. Insiders sold a total of 466,402 shares of company stock valued at $107,992,034 in the last ninety days. 20.00% of the stock is owned by insiders.

Workday Stock Performance

Workday stock opened at $249.21 on Tuesday. 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 company has a market cap of $66.04 billion, a PE ratio of 44.90, a PEG ratio of 5.40 and a beta of 1.35. The company’s 50-day moving average is $235.70 and its two-hundred day moving average is $242.70. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. Workday’s revenue was up 16.5% on a year-over-year basis. During the same period in the prior year, the business posted $0.40 EPS. Equities analysts anticipate that Workday, Inc. will post 2.27 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Wells Fargo & Company increased their price objective on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. The Goldman Sachs Group dropped their price objective on Workday from $310.00 to $300.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Morgan Stanley dropped their price objective on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. TD Cowen dropped their price objective on Workday from $330.00 to $290.00 and set a “buy” rating for the company in a research note on Friday, May 24th. Finally, Loop Capital increased their price objective on Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $288.15.

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.