Blue Trust Inc. Lowers Position in Workday, Inc. (NASDAQ:WDAY)

Blue Trust Inc. lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 24.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,325 shares of the software maker’s stock after selling 741 shares during the quarter. Blue Trust Inc.’s holdings in Workday were worth $600,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also recently bought and sold shares of the business. Marcum Wealth LLC grew its stake in Workday by 4.4% in the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after purchasing an additional 41 shares during the period. Custom Index Systems LLC grew its stake in Workday by 3.0% in the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after purchasing an additional 41 shares during the period. Meeder Asset Management Inc. grew its stake in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the period. Kingsview Wealth Management LLC grew its stake in Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after purchasing an additional 43 shares during the period. Finally, Fulton Bank N.A. grew its stake in Workday by 1.3% in the 4th 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 during the period. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $258.05 on Monday. The stock has a market cap of $68.64 billion, a price-to-earnings ratio of 42.79, a P/E/G ratio of 3.78 and a beta of 1.35. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The stock’s 50-day moving average is $262.13 and its 200 day moving average is $251.63.

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

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WDAY shares. Needham & Company LLC restated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Thursday, February 6th. Bank of America cut their price target on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Loop Capital cut their price target on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Citigroup cut their price target on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Finally, Royal Bank of Canada increased their price target on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $292.43.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 70,090 shares of Workday stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total value of $17,840,007.70. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,215,826.41. The trade was a 40.49 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 438,819 shares of company stock valued at $113,142,592. Corporate insiders own 20.00% of the company’s stock.

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.