Hotchkis & Wiley Capital Management LLC cut its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 16.3% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 2,225,631 shares of the software maker's stock after selling 432,437 shares during the period. Workday comprises approximately 1.8% of Hotchkis & Wiley Capital Management LLC's holdings, making the stock its 12th largest position. Hotchkis & Wiley Capital Management LLC owned approximately 0.84% of Workday worth $543,966,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also recently modified their holdings of the company. Hilltop Holdings Inc. purchased a new stake in Workday during the third quarter valued at approximately $629,000. Cinctive Capital Management LP bought a new stake in shares of Workday during the 3rd quarter valued at $1,222,000. Concentric Capital Strategies LP purchased a new stake in shares of Workday in the 3rd quarter worth $10,490,000. Ascent Group LLC raised its holdings in Workday by 6.4% in the 3rd quarter. Ascent Group LLC now owns 3,370 shares of the software maker's stock worth $824,000 after purchasing an additional 202 shares during the period. Finally, Benjamin Edwards Inc. purchased a new position in Workday during the third quarter valued at $345,000. 89.81% of the stock is owned by institutional investors.
WDAY stock opened at $251.46 on Tuesday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The firm's 50-day moving average is $248.77 and its 200 day moving average is $237.30. The company has a market capitalization of $66.64 billion, a PE ratio of 41.70, a P/E/G ratio of 4.96 and a beta of 1.34. 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 - Get Free Report) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts' consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.21%. The company's quarterly revenue was up 15.8% compared to the same quarter last year. During the same period last year, the company posted $0.47 earnings per share. On average, research analysts anticipate that Workday, Inc. will post 2.4 EPS for the current year.
In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, September 23rd. The stock was sold at an average price of $245.36, for a total value of $13,740,160.00. Following the transaction, the insider now owns 449,000 shares in the company, valued at $110,166,640. The trade was a 11.09 % 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, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction dated Thursday, September 5th. The shares were 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 owns 90,000 shares in the company, valued at $22,990,500. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 293,462 shares of company stock valued at $71,374,421 in the last ninety days. Corporate insiders own 20.00% of the company's stock.
WDAY has been the subject of several analyst reports. Citigroup reduced their target price on shares of Workday from $274.00 to $270.00 and set a "neutral" rating for the company in a report on Wednesday, September 25th. Scotiabank began coverage on shares of Workday in a research report on Monday, November 18th. They set a "sector outperform" rating and a $340.00 price objective on the stock. DA Davidson upped their price objective on Workday from $255.00 to $270.00 and gave the stock a "neutral" rating in a research note on Friday, August 23rd. Morgan Stanley lifted their target price on Workday from $315.00 to $330.00 and gave the company an "overweight" rating in a research note on Wednesday, November 27th. Finally, Evercore ISI reduced their price target on shares of Workday from $300.00 to $290.00 and set an "outperform" rating on the stock in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have given a buy rating to the company's stock. According to MarketBeat.com, Workday presently has a consensus rating of "Moderate Buy" and an average target price of $288.14.
Get Our Latest Stock Report on 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.
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