Waldron Private Wealth LLC Cuts Stake in Workday, Inc. (NASDAQ:WDAY)

Waldron Private Wealth LLC cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 4.4% during the 4th quarter, HoldingsChannel reports. The fund owned 4,703 shares of the software maker’s stock after selling 219 shares during the quarter. Waldron Private Wealth LLC’s holdings in Workday were worth $1,214,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Custom Index Systems LLC grew its holdings in shares of Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after purchasing an additional 41 shares during the last quarter. Heck Capital Advisors LLC purchased a new position in shares of Workday during the fourth quarter valued at approximately $88,000. Austin Private Wealth LLC increased its position in Workday by 18.9% during the 4th quarter. Austin Private Wealth LLC now owns 8,276 shares of the software maker’s stock valued at $2,135,000 after purchasing an additional 1,317 shares during the period. Caprock Group LLC boosted its stake in shares of Workday by 10.7% during the 4th quarter. Caprock Group LLC now owns 3,371 shares of the software maker’s stock valued at $870,000 after purchasing an additional 325 shares in the last quarter. Finally, Institute for Wealth Management LLC. increased its position in shares of Workday by 7.3% during the fourth quarter. Institute for Wealth Management LLC. now owns 1,444 shares of the software maker’s stock valued at $373,000 after buying an additional 98 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction that occurred 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 of the company’s stock, valued at $78,188,040. The trade was a 16.72 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction on Monday, January 13th. The shares were 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 of the company’s stock, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 438,819 shares of company stock worth $113,142,592. Company insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have weighed in on the company. Barclays reduced their target price on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a report on Wednesday, November 27th. Scotiabank initiated coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective for the company. Mizuho boosted their target price on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Wells Fargo & Company increased their price target on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Finally, Piper Sandler reissued a “neutral” rating and set a $270.00 price objective (down previously from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Workday Stock Up 0.8 %

WDAY stock opened at $262.06 on Friday. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The firm’s 50 day moving average price is $261.18 and its 200-day moving average price is $248.68. The firm has a market cap of $69.71 billion, a PE ratio of 43.46, a PEG ratio of 4.79 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates 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 analysts’ expectations of $2.13 billion. During the same period in the previous year, the firm posted $0.47 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. On average, equities research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Workday Company 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.