Portside Wealth Group LLC Has $3.99 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Portside Wealth Group LLC reduced its position in shares of Workday, Inc. (NASDAQ:WDAY) by 1.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,320 shares of the software maker’s stock after selling 195 shares during the period. Portside Wealth Group LLC’s holdings in Workday were worth $3,989,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Marcum Wealth LLC lifted its stake in shares of Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after buying an additional 41 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after purchasing an additional 43 shares during the period. Opal Wealth Advisors LLC increased its holdings in shares of Workday by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after purchasing an additional 47 shares during the period. Finally, Fulton Bank N.A. raised its position in shares of Workday by 1.3% in the fourth quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock worth $954,000 after buying an additional 48 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Down 0.4 %

NASDAQ WDAY opened at $249.64 on Friday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. 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 company has a market capitalization of $66.40 billion, a P/E ratio of 41.40, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34. The stock’s 50-day moving average price is $262.40 and its 200-day moving average price is $246.66.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 EPS. On average, equities research analysts predict that Workday, Inc. will post 2.64 earnings per share for the current year.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WDAY shares. Barclays lowered their price target on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and increased their price objective for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. StockNews.com cut Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Citigroup reduced their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday. Finally, Morgan Stanley boosted their target price on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Insider Activity at Workday

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction on 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 completion of the sale, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % 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 this link. Also, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction dated 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 completion of the transaction, the insider now directly 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. In the last quarter, insiders have sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is owned by corporate 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.