Diversify Wealth Management LLC Decreases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Diversify Wealth Management LLC reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 1.2% in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,207 shares of the software maker’s stock after selling 50 shares during the quarter. Diversify Wealth Management LLC’s holdings in Workday were worth $1,051,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. The Manufacturers Life Insurance Company raised its position in shares of Workday by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after purchasing an additional 1,016,394 shares during the last quarter. Two Sigma Advisers LP increased its position in Workday by 1,094.2% during the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after buying an additional 562,400 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new stake in shares of Workday in the third quarter valued at $78,003,000. Finally, D1 Capital Partners L.P. boosted its stake in shares of Workday by 152.1% during the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after acquiring an additional 312,500 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have issued reports on WDAY shares. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Loop Capital reduced 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. Scotiabank assumed coverage on shares of Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and lifted their price objective for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 70,090 shares of the company’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. This represents a 40.49 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the transaction, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Performance

NASDAQ:WDAY opened at $249.64 on Tuesday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The firm has a 50-day moving average of $262.40 and a two-hundred day moving average of $246.94. The stock has a market cap of $66.40 billion, a P/E ratio of 41.40, a PEG ratio of 4.51 and a beta of 1.34.

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, topping the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same period in the previous year, the business earned $0.47 EPS. On average, research analysts expect that Workday, Inc. will post 2.64 earnings per share for the current fiscal year.

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.