Workday, Inc. (NASDAQ:WDAY) Shares Sold by 1858 Wealth Management LLC

1858 Wealth Management LLC lowered its position in Workday, Inc. (NASDAQ:WDAY) by 46.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,244 shares of the software maker’s stock after selling 1,076 shares during the quarter. 1858 Wealth Management LLC’s holdings in Workday were worth $321,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in WDAY. Capital Performance Advisors LLP acquired a new position in shares of Workday in the 3rd quarter valued at about $26,000. Crews Bank & Trust purchased a new position in Workday in the fourth quarter valued at approximately $26,000. Meeder Asset Management Inc. lifted its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares in the last quarter. New Millennium Group LLC grew its stake in Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after buying an additional 94 shares during the period. Finally, True Wealth Design LLC increased its position in shares of Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after acquiring an additional 143 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on the stock. Barclays reduced their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 target price on shares of Workday in a research report on Monday, November 25th. Bank of America dropped their target price on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Finally, Mizuho upped their price target on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Eight research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $292.25.

Workday Price Performance

Shares of WDAY opened at $259.73 on Wednesday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $69.09 billion, a price-to-earnings ratio of 43.07, a PEG ratio of 4.73 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The stock has a 50 day moving average of $260.91 and a 200-day moving average of $249.30.

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

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 70,090 shares of the stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total value of $17,840,007.70. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $26,215,826.41. This represents a 40.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock worth $113,142,592 over the last quarter. 20.00% of the stock is owned by company insiders.

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.