American Century Companies Inc. Cuts Stock Position in Workday, Inc. (NASDAQ:WDAY)

American Century Companies Inc. lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 20.8% during the second quarter, HoldingsChannel.com reports. The fund owned 1,186,065 shares of the software maker’s stock after selling 311,181 shares during the quarter. American Century Companies Inc.’s holdings in Workday were worth $265,157,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. Crewe Advisors LLC purchased a new stake in Workday during the 1st quarter worth $27,000. Sound Income Strategies LLC increased its stake in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after buying an additional 49 shares during the period. SouthState Corp grew its holdings 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. Asset Dedication LLC acquired a new position in Workday during the 2nd quarter worth $36,000. Finally, PSI Advisors LLC acquired a new position in Workday during the 2nd quarter worth $38,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity

In other news, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $226.67, for a total transaction of $710,383.78. Following the sale, the insider now owns 92,014 shares in the company, valued at $20,856,813.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction that occurred on Monday, July 8th. The shares were sold at an average price of $226.67, for a total transaction of $710,383.78. Following the sale, the insider now owns 92,014 shares in the company, valued at $20,856,813.38. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the sale, the director now owns 97,500 shares in the company, valued at approximately $25,381,200. The disclosure for this sale can be found here. Insiders have sold 523,402 shares of company stock worth $119,914,724 over the last 90 days. 20.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent analyst reports. Sanford C. Bernstein decreased their price objective on shares of Workday from $321.00 to $301.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Mizuho decreased their price objective on shares of Workday from $325.00 to $280.00 and set a “buy” rating for the company in a report on Friday, May 24th. DA Davidson raised their price objective on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. Guggenheim reaffirmed a “sell” rating and issued a $190.00 price target on shares of Workday in a report on Tuesday, June 25th. Finally, Evercore ISI decreased their price target 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. One 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 stock. According to data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $288.15.

Workday Stock Up 0.0 %

NASDAQ WDAY opened at $255.62 on Thursday. 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 company’s 50 day simple moving average is $234.31 and its 200 day simple moving average is $244.09. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a market capitalization of $67.74 billion, a P/E ratio of 46.06, a PEG ratio of 5.47 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping 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 business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period in the previous year, the firm earned $0.40 EPS. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. Equities research analysts expect that Workday, Inc. will post 2.27 earnings per share 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.