Cullen Frost Bankers Inc. Decreases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Cullen Frost Bankers Inc. decreased its position in Workday, Inc. (NASDAQ:WDAY) by 7.5% during the fourth quarter, Holdings Channel.com reports. The fund owned 84,168 shares of the software maker’s stock after selling 6,805 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Workday were worth $21,718,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of WDAY. Roxbury Financial LLC purchased a new position in shares of Workday in the fourth quarter valued at about $25,000. Capital Performance Advisors LLP purchased a new position in shares of Workday in the third quarter valued at about $26,000. Crews Bank & Trust purchased a new position in shares of Workday in the fourth quarter valued at about $26,000. Avion Wealth increased its position in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the period. Finally, Meeder Asset Management Inc. increased its position in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on WDAY shares. Bank of America reduced their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. KeyCorp boosted their price target on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Canaccord Genuity Group boosted their price target on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. JMP Securities reiterated a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Thursday, February 6th. Finally, Wells Fargo & Company boosted their price target on shares of Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $302.14.

Insider Buying and Selling

In other news, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now owns 6,845 shares in the company, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now owns 284,000 shares in the company, valued at $78,188,040. This represents a 16.72 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is owned by insiders.

Workday Trading Up 2.4 %

NASDAQ:WDAY opened at $259.61 on Thursday. The company’s 50 day moving average price is $258.98 and its 200-day moving average price is $255.49. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. 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 stock has a market cap of $69.06 billion, a price-to-earnings ratio of 43.05, a PEG ratio of 3.55 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. On average, equities research analysts forecast 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.