Corient Private Wealth LLC Lowers Stock Position in Workday, Inc. (NASDAQ:WDAY)

Corient Private Wealth LLC cut its holdings in Workday, Inc. (NASDAQ:WDAY) by 11.8% during the fourth quarter, Holdings Channel reports. The institutional investor owned 27,316 shares of the software maker’s stock after selling 3,638 shares during the quarter. Corient Private Wealth LLC’s holdings in Workday were worth $6,657,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. Crews Bank & Trust bought a new stake in Workday during the fourth quarter worth about $26,000. Roxbury Financial LLC purchased a new position in shares of Workday during the fourth quarter valued at approximately $25,000. Avion Wealth boosted its position in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares in the last quarter. Meeder Asset Management Inc. grew its stake in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the last quarter. Finally, True Wealth Design LLC increased its position in Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after buying an additional 143 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Trading Down 0.8 %

NASDAQ:WDAY opened at $250.47 on Friday. The firm has a market capitalization of $66.63 billion, a price-to-earnings ratio of 41.54, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The business has a fifty day moving average price of $256.76 and a 200-day moving average price of $255.24. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Sell-side analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 472 shares of the business’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 transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, December 23rd. The stock was sold at an average price of $265.70, for a total value of $14,879,200.00. Following the completion of the transaction, the insider now directly owns 228,000 shares of the company’s stock, valued at approximately $60,579,600. This trade represents a 19.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 473,001 shares of company stock valued at $120,614,400 over the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several equities research analysts have commented on WDAY shares. Piper Sandler boosted their target price on Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Thursday, February 6th. Citigroup reduced their price objective on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Scotiabank dropped their target price on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a research note on Monday. Finally, Guggenheim reissued a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average target price of $300.36.

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.