Arcus Capital Partners LLC Reduces Position in Workday, Inc. (NASDAQ:WDAY)

Arcus Capital Partners LLC decreased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 15.5% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 10,887 shares of the software maker’s stock after selling 2,000 shares during the period. Workday accounts for 1.1% of Arcus Capital Partners LLC’s investment portfolio, making the stock its 15th biggest position. Arcus Capital Partners LLC’s holdings in Workday were worth $2,969,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crews Bank & Trust purchased a new stake in shares of Workday in the fourth quarter valued at $26,000. Avion Wealth grew its position in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the period. Capital Performance Advisors LLP purchased a new stake in Workday during the third quarter valued at about $26,000. Meeder Asset Management Inc. grew its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. Finally, True Wealth Design LLC grew its position in Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after acquiring an additional 143 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity

In related news, insider Sayan Chakraborty sold 5,498 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares of the company’s stock, valued at $30,369,458. This represents a 4.34 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the stock in a transaction that occurred on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total value of $15,692,670.00. Following the completion of the transaction, the insider now directly owns 284,000 shares of the company’s stock, valued at $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by insiders.

Analysts Set New Price Targets

A number of research firms have issued reports on WDAY. Wells Fargo & Company boosted their price target on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Loop Capital reduced their price objective on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. The Goldman Sachs Group boosted their price objective on Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. JMP Securities restated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. Finally, Needham & Company LLC restated a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $292.43.

Workday Trading Up 0.9 %

Shares of NASDAQ WDAY opened at $260.13 on Friday. The stock’s 50 day moving average price is $262.35 and its two-hundred day moving average price is $251.18. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The stock has a market capitalization of $69.19 billion, a P/E ratio of 43.14, a PEG ratio of 3.78 and a beta of 1.35. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.47 earnings per share. On average, analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.