Bamco Inc. NY Trims Position in Workday, Inc. (NASDAQ:WDAY)

Bamco Inc. NY trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY) by 5.9% during the first quarter, HoldingsChannel reports. The fund owned 92,925 shares of the software maker’s stock after selling 5,843 shares during the quarter. Bamco Inc. NY’s holdings in Workday were worth $25,345,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Crewe Advisors LLC purchased a new position in shares of Workday during the first quarter valued at approximately $27,000. Sound Income Strategies LLC grew its position in shares of Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after buying an additional 49 shares during the last quarter. CVA Family Office LLC acquired a new position in Workday during the 4th quarter valued at about $33,000. Friedenthal Financial acquired a new position in Workday during the 4th quarter valued at about $43,000. Finally, VisionPoint Advisory Group LLC lifted its stake in shares of Workday by 27.6% in the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after acquiring an additional 34 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on WDAY shares. Robert W. Baird cut their price target on shares of Workday from $316.00 to $265.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Evercore ISI reduced their price target on shares of Workday from $350.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Loop Capital dropped their price objective on shares of Workday from $280.00 to $240.00 and set a “hold” rating for the company in a research note on Friday, May 24th. Bank of America dropped their target price on shares of Workday from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Finally, Barclays lowered their price objective on shares of Workday from $316.00 to $286.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. 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 stock. According to data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus price target of $281.44.

Workday Stock Up 0.7 %

Shares of NASDAQ WDAY traded up $1.56 during midday trading on Friday, reaching $228.64. The company’s stock had a trading volume of 1,003,283 shares, compared to its average volume of 1,840,302. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. Workday, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $311.28. The stock has a market capitalization of $60.59 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 5.76 and a beta of 1.35. The stock has a 50 day simple moving average of $223.16 and a 200-day simple moving average of $256.87.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The business had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the previous year, the company earned $0.16 earnings per share. The firm’s revenue for the quarter was up 18.1% on a year-over-year basis. Equities research analysts predict that Workday, Inc. will post 2.12 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 82,762 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at $21,658,209.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, major shareholder David A. Duffield sold 82,762 shares of the business’s stock in a transaction dated Monday, June 3rd. The stock was sold at an average price of $210.28, for a total transaction of $17,403,193.36. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $21,658,209.16. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Friday, July 12th. The shares were sold at an average price of $229.32, for a total value of $12,841,920.00. Following the completion of the transaction, the insider now directly owns 562,000 shares of the company’s stock, valued at approximately $128,877,840. The disclosure for this sale can be found here. Insiders sold a total of 524,672 shares of company stock valued at $115,938,834 over the last ninety days. 20.00% of the stock is currently owned by company insiders.

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.