Montrusco Bolton Investments Inc. Decreases Position in Workday, Inc. (NASDAQ:WDAY)

Montrusco Bolton Investments Inc. decreased its position in Workday, Inc. (NASDAQ:WDAY) by 18.7% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 1,053,221 shares of the software maker’s stock after selling 242,997 shares during the period. Workday comprises approximately 3.2% of Montrusco Bolton Investments Inc.’s portfolio, making the stock its 13th biggest holding. Montrusco Bolton Investments Inc.’s holdings in Workday were worth $263,501,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Marcum Wealth LLC boosted its holdings in Workday by 4.4% in the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after buying an additional 41 shares during the period. Meeder Asset Management Inc. lifted its position in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares in the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Workday by 0.9% in the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after acquiring an additional 43 shares during the period. Opal Wealth Advisors LLC boosted its holdings in shares of Workday by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after acquiring an additional 47 shares during the period. Finally, Fulton Bank N.A. grew its position in shares of Workday by 1.3% in the fourth quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock valued at $954,000 after purchasing an additional 48 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on WDAY shares. Needham & Company LLC restated a “buy” rating and issued a $300.00 target price on shares of Workday in a research note on Monday, November 25th. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Citigroup decreased their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Bank of America cut their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Oppenheimer restated an “outperform” rating and set a $300.00 price target on shares of Workday in a research report on Tuesday, December 3rd. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus target price of $292.25.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the transaction, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 438,819 shares of company stock worth $113,142,592. Company insiders own 20.00% of the company’s stock.

Workday Stock Up 2.4 %

WDAY opened at $270.43 on Wednesday. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The firm’s 50 day simple moving average is $261.22 and its two-hundred day simple moving average is $248.48. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market capitalization of $71.93 billion, a PE ratio of 44.85, a PEG ratio of 4.58 and a beta of 1.34.

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