Private Advisor Group LLC Has $1.71 Million Holdings in Workday, Inc. (NASDAQ:WDAY)

Private Advisor Group LLC cut its stake in Workday, Inc. (NASDAQ:WDAY) by 10.1% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 7,013 shares of the software maker’s stock after selling 791 shares during the period. Private Advisor Group LLC’s holdings in Workday were worth $1,714,000 at the end of the most recent reporting period.

A number of other hedge funds have also modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Workday by 2.2% in the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after buying an additional 324,540 shares in the last quarter. Sustainable Growth Advisers LP raised its holdings in shares of Workday by 9.7% in the 1st quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock worth $927,998,000 after buying an additional 301,463 shares in the last quarter. Clearbridge Investments LLC raised its holdings in shares of Workday by 12.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock worth $693,382,000 after buying an additional 281,207 shares in the last quarter. The Manufacturers Life Insurance Company increased its holdings in 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 valued at $514,637,000 after purchasing an additional 1,016,394 shares in the last quarter. Finally, Legal & General Group Plc increased its holdings in Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Performance

WDAY stock opened at $238.28 on Thursday. The business’s 50-day moving average price is $247.36 and its two-hundred day moving average price is $236.42. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $63.14 billion, a PE ratio of 42.93, a P/E/G ratio of 4.72 and a beta of 1.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter last year, the business posted $0.40 EPS. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. As a group, research analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts recently weighed in on the company. Loop Capital raised their price target on Workday from $240.00 to $255.00 and gave the company a “hold” rating in a report on Friday, August 23rd. KeyCorp raised their price target on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Citigroup dropped their price target on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a report on Wednesday, September 25th. Morgan Stanley dropped their price target on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Finally, Evercore ISI dropped their price target on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a report on Tuesday, August 20th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $287.04.

Insider Buying and Selling at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction dated Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the sale, the director now owns 8,674 shares of the company’s stock, valued at $2,097,806.90. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other Workday news, major shareholder David A. Duffield sold 66,492 shares of Workday stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of Workday stock in a transaction dated Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the sale, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock valued at $91,506,897 in the last 90 days. 20.00% of the stock is currently owned by company insiders.

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.