OneDigital Investment Advisors LLC Reduces Position in Workday, Inc. (NASDAQ:WDAY)

OneDigital Investment Advisors LLC decreased its position in Workday, Inc. (NASDAQ:WDAY) by 11.1% during the 3rd quarter, Holdings Channel reports. The firm owned 28,974 shares of the software maker’s stock after selling 3,627 shares during the period. OneDigital Investment Advisors LLC’s holdings in Workday were worth $7,082,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. ORG Partners LLC increased its position in shares of Workday by 3,717.9% in the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after acquiring an additional 3,123 shares during the period. Grafton Street Partners Fund LP bought a new stake in shares of Workday in the third quarter worth about $4,424,000. ICICI Prudential Asset Management Co Ltd increased its holdings in Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after purchasing an additional 7,802 shares during the period. O Shaughnessy Asset Management LLC raised its position in Workday by 42.1% during the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock valued at $3,649,000 after purchasing an additional 3,965 shares during the last quarter. Finally, Vanguard Group Inc. lifted its holdings in 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 during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Trading Down 1.8 %

Workday stock opened at $271.49 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a market capitalization of $71.94 billion, a price-to-earnings ratio of 47.30, a P/E/G ratio of 5.49 and a beta of 1.35. The firm has a 50 day moving average of $246.33 and a 200 day moving average of $236.28.

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

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on the company. Needham & Company LLC reduced their target price on Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research note on Wednesday, September 18th. Loop Capital lifted their price target on shares of Workday from $255.00 to $270.00 and gave the company a “hold” rating in a report on Thursday. Piper Sandler reaffirmed an “overweight” rating and issued a $285.00 target price on shares of Workday in a research report on Wednesday, September 18th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of Workday from $265.00 to $275.00 and gave the company a “hold” rating in a research report on Friday, August 23rd. Finally, KeyCorp raised their price objective on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $287.59.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the transaction, the director now directly owns 97,500 shares of the company’s stock, valued at $25,381,200. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 370,575 shares of company stock valued at $91,506,897 over the last 90 days. Company insiders own 20.00% of the company’s stock.

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.