Empower Advisory Group LLC Cuts Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Empower Advisory Group LLC lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 47.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 810 shares of the software maker’s stock after selling 727 shares during the period. Empower Advisory Group LLC’s holdings in Workday were worth $209,000 as of its most recent SEC filing.

A number of other hedge funds have also made changes to their positions in the business. Janus Henderson Group PLC raised its stake in shares of Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares during the period. State Street Corp grew its holdings in Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after purchasing an additional 67,380 shares in the last quarter. Geode Capital Management LLC grew its holdings in Workday by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after purchasing an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in Workday by 0.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after purchasing an additional 14,159 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Workday by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after purchasing an additional 75,747 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The shares were 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 of the company’s stock, valued at $78,188,040. The trade was a 16.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock valued at $113,142,592 in the last ninety days. Company insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on WDAY. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and raised their price target for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Mizuho raised their price target on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Redburn Atlantic began coverage on shares of Workday in a report on Wednesday. They set a “neutral” rating for the company. Wells Fargo & Company raised their price target on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Finally, Piper Sandler reaffirmed a “neutral” rating and set a $270.00 price target (down from $285.00) on shares of Workday in a report on Wednesday, November 27th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $291.11.

Workday Trading Up 0.2 %

Workday stock opened at $261.63 on Friday. 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 two-hundred day moving average price of $252.54. The firm has a market capitalization of $69.59 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 3.62 and a beta of 1.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the business posted $0.47 EPS. Sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share 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.