Schechter Investment Advisors LLC Has $1.07 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Schechter Investment Advisors LLC lowered its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 1.7% in the 4th quarter, HoldingsChannel reports. The firm owned 3,867 shares of the software maker’s stock after selling 67 shares during the period. Schechter Investment Advisors LLC’s holdings in Workday were worth $1,068,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Assenagon Asset Management S.A. grew its stake in Workday by 58.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 278,569 shares of the software maker’s stock worth $76,902,000 after purchasing an additional 103,171 shares during the period. Douglas Lane & Associates LLC acquired a new stake in Workday in the fourth quarter valued at approximately $9,274,000. Pacer Advisors Inc. grew its stake in Workday by 22.3% in the fourth quarter. Pacer Advisors Inc. now owns 13,646 shares of the software maker’s stock valued at $3,767,000 after acquiring an additional 2,485 shares during the period. Raymond James Financial Services Advisors Inc. grew its stake in Workday by 28.7% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 12,705 shares of the software maker’s stock valued at $3,507,000 after acquiring an additional 2,831 shares during the period. Finally, CVA Family Office LLC acquired a new stake in Workday in the fourth quarter valued at approximately $33,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 65,839 shares of the business’s stock in a transaction on Monday, January 8th. The stock was sold at an average price of $272.33, for a total transaction of $17,929,934.87. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $28,049,173.01. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. In related news, major shareholder David A. Duffield sold 65,839 shares of the business’s stock in a transaction dated Monday, January 8th. The stock was sold at an average price of $272.33, for a total transaction of $17,929,934.87. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $28,049,173.01. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CFO Zane Rowe sold 4,655 shares of the business’s stock in a transaction dated Friday, January 5th. The stock was sold at an average price of $265.89, for a total value of $1,237,717.95. Following the transaction, the chief financial officer now owns 155,265 shares of the company’s stock, valued at $41,283,410.85. The disclosure for this sale can be found here. In the last three months, insiders have sold 463,484 shares of company stock worth $126,630,341. 21.09% of the stock is owned by company insiders.

Workday Stock Performance

NASDAQ:WDAY opened at $273.62 on Thursday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. Workday, Inc. has a 52-week low of $174.25 and a 52-week high of $311.28. The firm has a market cap of $72.24 billion, a price-to-earnings ratio of 53.13, a PEG ratio of 6.93 and a beta of 1.33. The business’s fifty day moving average is $287.67 and its 200 day moving average is $258.61.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the company posted ($0.14) EPS. The firm’s revenue for the quarter was up 16.8% compared to the same quarter last year. Research analysts predict that Workday, Inc. will post 1.76 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on WDAY shares. Evercore ISI raised their price objective on Workday from $310.00 to $350.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. Needham & Company LLC raised their price objective on Workday from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. BMO Capital Markets raised their price objective on Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a research note on Tuesday, February 13th. StockNews.com raised Workday from a “buy” rating to a “strong-buy” rating in a research report on Wednesday, March 6th. Finally, TheStreet raised Workday from a “c” rating to a “b-” rating in a research report on Monday, February 26th. One analyst has rated the stock with a sell rating, six have issued a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.61.

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.