Concord Wealth Partners Has $441,000 Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Concord Wealth Partners decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 3.2% during the 4th quarter, HoldingsChannel.com reports. The firm owned 1,708 shares of the software maker’s stock after selling 57 shares during the period. Concord Wealth Partners’ holdings in Workday were worth $441,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Northwestern Mutual Wealth Management Co. raised its holdings in Workday by 23.7% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 5,063 shares of the software maker’s stock valued at $1,132,000 after buying an additional 970 shares in the last quarter. Cetera Investment Advisers increased its holdings in shares of Workday by 3.9% during the 2nd quarter. Cetera Investment Advisers now owns 51,043 shares of the software maker’s stock valued at $11,411,000 after acquiring an additional 1,911 shares during the last quarter. Sanctuary Advisors LLC bought a new position in shares of Workday in the 2nd quarter valued at approximately $6,183,000. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in Workday in the 2nd quarter worth approximately $4,351,000. Finally, Canandaigua National Bank & Trust Co. boosted its position in Workday by 40.1% during the third quarter. Canandaigua National Bank & Trust Co. now owns 3,644 shares of the software maker’s stock worth $891,000 after purchasing an additional 1,043 shares during the period. Institutional investors own 89.81% of the company’s stock.

Workday Stock Up 0.8 %

Shares of NASDAQ:WDAY opened at $262.06 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $69.71 billion, a P/E ratio of 43.46, a P/E/G ratio of 4.79 and a beta of 1.34. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company’s 50-day moving average price is $261.07 and its two-hundred day moving average price is $248.88.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the business posted $0.47 earnings per share. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. As a group, research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the sale, the insider now directly owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock worth $113,142,592 over the last 90 days. 20.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts have recently weighed in on the stock. Morgan Stanley boosted their price objective on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Bank of America cut their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Finally, Citigroup dropped their price target on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $292.25.

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.