Workday, Inc. (NASDAQ:WDAY) Position Cut by abrdn plc

abrdn plc reduced its holdings in Workday, Inc. (NASDAQ:WDAY) by 1.7% during the 4th quarter, Holdings Channel reports. The fund owned 275,063 shares of the software maker’s stock after selling 4,793 shares during the quarter. abrdn plc’s holdings in Workday were worth $71,299,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction dated 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 sale, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The transaction 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 firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the transaction, the insider now directly owns 60,000 shares in the company, valued at $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock valued at $113,142,592 over the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the topic of several recent analyst reports. Citigroup dropped their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Oppenheimer restated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a report on Tuesday, December 3rd. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 target price on shares of Workday in a report on Monday, November 25th. Morgan Stanley boosted their price target on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Finally, Loop Capital lowered their price objective on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $292.25.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $259.73 on Wednesday. The firm has a market cap of $69.09 billion, a price-to-earnings ratio of 43.07, a P/E/G ratio of 4.73 and a beta of 1.35. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. 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 business has a fifty day simple moving average of $260.91 and a 200 day simple moving average of $249.30.

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