Apollon Wealth Management LLC Cuts Holdings in Workday, Inc. (NASDAQ:WDAY)

Apollon Wealth Management LLC cut its holdings in Workday, Inc. (NASDAQ:WDAY) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 2,338 shares of the software maker’s stock after selling 52 shares during the quarter. Apollon Wealth Management LLC’s holdings in Workday were worth $572,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Dorsey & Whitney Trust CO LLC boosted its position in shares of Workday by 4.4% during the 1st quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker’s stock worth $281,000 after purchasing an additional 43 shares in the last quarter. M&G Plc purchased a new stake in Workday during the first quarter worth about $2,292,000. Intech Investment Management LLC grew its position in Workday by 7.9% during the first quarter. Intech Investment Management LLC now owns 12,960 shares of the software maker’s stock worth $3,535,000 after buying an additional 948 shares during the period. Vanguard Group Inc. lifted its position in shares of Workday by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after acquiring an additional 324,540 shares during the period. Finally, Edgestream Partners L.P. lifted its position in shares of Workday by 463.9% during the 1st quarter. Edgestream Partners L.P. now owns 14,724 shares of the software maker’s stock valued at $4,016,000 after acquiring an additional 12,113 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $259.41 on Friday. The firm has a market capitalization of $68.74 billion, a PE ratio of 45.19, a P/E/G ratio of 5.39 and a beta of 1.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The business has a 50-day moving average of $246.74 and a two-hundred day moving average of $236.60.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same quarter last year, the firm posted $0.40 earnings per share. Workday’s revenue for the quarter was up 16.5% compared to the same quarter last year. As a group, research analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current year.

Analyst Ratings Changes

WDAY has been the subject of several research analyst reports. Evercore ISI dropped their price objective on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Needham & Company LLC cut their price target on Workday from $350.00 to $300.00 and set a “buy” rating for the company in a research note on Wednesday, September 18th. KeyCorp boosted their price objective on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. JMP Securities restated a “market outperform” rating and set a $315.00 target price on shares of Workday in a report on Thursday, September 19th. Finally, Piper Sandler reaffirmed an “overweight” rating and issued a $285.00 price target on shares of Workday in a report on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $287.59.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction that occurred on Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the sale, the director now directly owns 8,674 shares of the company’s stock, valued at $2,097,806.90. This trade represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is currently owned by corporate insiders.

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.