Intech Investment Management LLC Sells 5,853 Shares of Workday, Inc. (NASDAQ:WDAY)

Intech Investment Management LLC trimmed its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 31.7% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor 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 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of WDAY. Meeder Asset Management Inc. grew its position in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. Diversified Trust Co grew its holdings in shares of Workday by 1.0% in the 2nd quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock worth $1,080,000 after purchasing an additional 47 shares during the last quarter. Opal Wealth Advisors LLC increased its position in shares of Workday by 5.2% during the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after purchasing an additional 47 shares in the last quarter. Mesirow Financial Investment Management Inc. lifted its holdings in Workday by 3.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after purchasing an additional 48 shares during the last quarter. Finally, Aspen Investment Management Inc boosted its position in Workday by 3.1% in the second quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker’s stock valued at $369,000 after buying an additional 50 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Activity at Workday

In other news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the sale, the insider now directly owns 85,795 shares in the company, valued at $20,228,745.10. This trade represents a 3.52 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 39.23 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 370,575 shares of company stock valued at $91,506,897. 20.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several research firms have recently weighed in on WDAY. Evercore ISI dropped their price objective on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. KeyCorp lifted their price objective on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. DA Davidson increased their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Loop Capital lifted their price target on Workday from $255.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Finally, The Goldman Sachs Group increased their price objective on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $289.46.

Workday Trading Down 0.1 %

NASDAQ WDAY opened at $267.75 on Friday. Workday, Inc. has a one year low of $199.81 and a one year 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. The firm has a market cap 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. The stock’s 50-day moving average is $247.71 and its 200-day moving average is $236.98.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results 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. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter in the previous year, the firm posted $0.40 earnings per share. The business’s revenue was up 16.5% on a year-over-year basis. Sell-side analysts anticipate that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

About Workday

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.