D.A. Davidson & CO. Cuts Stock Position in Workday, Inc. (NASDAQ:WDAY)

D.A. Davidson & CO. lessened its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 5.6% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,253 shares of the software maker’s stock after selling 74 shares during the quarter. D.A. Davidson & CO.’s holdings in Workday were worth $323,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Crews Bank & Trust acquired a new position in Workday during the fourth quarter worth $26,000. Roxbury Financial LLC acquired a new position in Workday during the fourth quarter worth $25,000. Avion Wealth grew its holdings in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the period. Capital Performance Advisors LLP acquired a new position in Workday during the third quarter worth $26,000. Finally, Meeder Asset Management Inc. grew its holdings in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $271.09 on Thursday. The business’s 50-day moving average price is $260.01 and its 200 day moving average price is $254.24. The company has a market capitalization of $72.11 billion, a PE ratio of 44.96, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $298.50.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. On average, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 70,003 shares of the firm’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock worth $113,142,592 in the last three months. 20.00% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of research analysts recently weighed in on WDAY shares. Mizuho upped their price objective on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Wednesday. BNP Paribas raised Workday to a “strong-buy” rating in a report on Friday, February 14th. Morgan Stanley lowered Workday from an “overweight” rating to an “equal weight” rating and lowered their target price for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Finally, Scotiabank began coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $301.11.

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.