Workday, Inc. $WDAY Shares Sold by Lmcg Investments LLC

Lmcg Investments LLC decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 20.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 28,248 shares of the software maker’s stock after selling 7,420 shares during the quarter. Lmcg Investments LLC’s holdings in Workday were worth $6,067,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. Brighton Jones LLC grew its stake in shares of Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after buying an additional 2,792 shares in the last quarter. Empowered Funds LLC grew its stake in shares of Workday by 12.1% in the first quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock valued at $2,602,000 after buying an additional 1,206 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of Workday by 211.7% in the first quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock valued at $44,000 after buying an additional 127 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Workday in the second quarter valued at $281,000. Finally, NewEdge Advisors LLC grew its stake in shares of Workday by 32.0% in the second quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock valued at $1,583,000 after buying an additional 1,600 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. Piper Sandler dropped their price objective on Workday from $200.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Oppenheimer dropped their price objective on Workday from $200.00 to $165.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings cut Workday from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Friday, March 20th. TD Cowen cut Workday from a “buy” rating to a “hold” rating and set a $155.00 price objective for the company. in a research note on Wednesday, February 25th. Finally, Wall Street Zen raised Workday from a “hold” rating to a “buy” rating in a research note on Saturday, March 28th. Nineteen analysts have rated the stock with a Buy rating, fourteen have given a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $199.71.

Insider Activity at Workday

In related news, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction that occurred on Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the transaction, the insider owned 165,074 shares in the company, valued at $21,193,850.86. This trade represents a 5.36% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $112.33, for a total value of $12,075,475.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $11,800,154.17. This trade represents a 50.58% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders sold 989,814 shares of company stock worth $131,576,291 over the last three months. Company insiders own 19.31% of the company’s stock.

Workday Stock Down 4.8%

Shares of NASDAQ WDAY opened at $122.63 on Thursday. The company has a market capitalization of $31.52 billion, a price-to-earnings ratio of 47.53, a price-to-earnings-growth ratio of 1.25 and a beta of 1.04. The company has a debt-to-equity ratio of 0.38, a current ratio of 1.32 and a quick ratio of 1.32. The business has a 50-day moving average of $129.70 and a two-hundred day moving average of $178.47. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $276.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.Workday’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same period in the previous year, the business earned $1.92 EPS. On average, analysts forecast that Workday, Inc. will post 5.11 earnings per share for the current fiscal year.

Workday Company Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.