Workday, Inc. (NASDAQ:WDAY) Shares Sold by Commonwealth Equity Services LLC

Commonwealth Equity Services LLC lowered its position in Workday, Inc. (NASDAQ:WDAY) by 7.0% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,551 shares of the software maker’s stock after selling 1,619 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Workday were worth $5,561,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Roxbury Financial LLC acquired a new position in shares of Workday in the fourth quarter worth about $25,000. Crews Bank & Trust acquired a new position in shares of Workday in the 4th quarter valued at approximately $26,000. Avion Wealth boosted its stake in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares during the last quarter. True Wealth Design LLC increased its stake in shares of Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after buying an additional 143 shares during the last quarter. Finally, Rakuten Securities Inc. raised its holdings in Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock valued at $39,000 after acquiring an additional 66 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $249.49 on Friday. The business has a fifty day simple moving average of $256.76 and a 200 day simple moving average of $255.11. 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 1 year low of $199.81 and a 1 year high of $294.00. The firm has a market cap of $66.36 billion, a price-to-earnings ratio of 41.37, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 71,672 shares of the business’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,602,994.26. This represents a 41.03 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 473,001 shares of company stock worth $120,614,400. Corporate insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on the stock. The Goldman Sachs Group boosted their target price on shares of Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Stifel Nicolaus increased their target price on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a report on Wednesday, February 26th. KeyCorp lifted their target price on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Oppenheimer upped their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. Finally, Piper Sandler lifted their price objective on shares of Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and an average price target of $300.36.

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.