Venturi Wealth Management LLC Trims Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Venturi Wealth Management LLC cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 12.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,143 shares of the software maker’s stock after selling 157 shares during the quarter. Venturi Wealth Management LLC’s holdings in Workday were worth $295,000 at the end of the most recent quarter.

A number of other institutional investors also recently made changes to their positions in the business. Whittier Trust Co. of Nevada Inc. increased its stake in shares of Workday by 73.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 289 shares of the software maker’s stock worth $71,000 after buying an additional 122 shares during the last quarter. Sequoia Financial Advisors LLC grew its holdings in Workday by 13.0% during the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,561 shares of the software maker’s stock worth $626,000 after acquiring an additional 295 shares in the last quarter. Signaturefd LLC increased its position in shares of Workday by 9.7% in the 3rd quarter. Signaturefd LLC now owns 3,460 shares of the software maker’s stock worth $846,000 after purchasing an additional 307 shares during the last quarter. International Assets Investment Management LLC raised its stake in shares of Workday by 24,593.2% in the 3rd quarter. International Assets Investment Management LLC now owns 215,325 shares of the software maker’s stock valued at $52,628,000 after purchasing an additional 214,453 shares in the last quarter. Finally, YHB Investment Advisors Inc. lifted its position in shares of Workday by 26.3% during the third quarter. YHB Investment Advisors Inc. now owns 2,954 shares of the software maker’s stock worth $722,000 after purchasing an additional 616 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several analysts recently weighed in on WDAY shares. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Barclays lowered their price target on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a report on Wednesday, November 27th. The Goldman Sachs Group raised their price objective on Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Citigroup lowered their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Mizuho raised their price target on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $291.11.

Workday Stock Performance

Shares of WDAY opened at $261.63 on Friday. The firm has a market capitalization of $69.59 billion, a PE ratio of 43.39, a P/E/G ratio of 3.62 and a beta of 1.35. 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 50-day moving average price of $261.10 and a 200 day moving average price of $252.54. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data 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 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 analysts’ expectations of $2.13 billion. During the same period last year, the firm posted $0.47 earnings per share. The business’s revenue was up 15.8% on a year-over-year basis. On average, sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity

In other news, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the transaction, the insider now owns 121,100 shares in the company, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares in the company, valued at $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. In the last ninety days, insiders have sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is 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.