Howard Bailey Securities LLC Lowers Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Howard Bailey Securities LLC cut its holdings in Workday, Inc. (NASDAQ:WDAY) by 6.3% in the 4th quarter, HoldingsChannel reports. The fund owned 1,131 shares of the software maker’s stock after selling 76 shares during the period. Howard Bailey Securities LLC’s holdings in Workday were worth $292,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the business. Two Sigma Advisers LP grew its position in shares of Workday by 1,094.2% in the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after purchasing an additional 562,400 shares during the period. KBC Group NV grew its holdings in Workday by 340.3% in the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after buying an additional 506,812 shares during the period. Janus Henderson Group PLC boosted its position in shares of Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares during the last quarter. Zurich Insurance Group Ltd FI purchased a new position in Workday during the third quarter worth approximately $78,003,000. Finally, Lindbrook Capital LLC increased its holdings in shares of Workday by 17,001.6% during the 3rd quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock worth $703,000 after buying an additional 284,266 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on 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 sale, the insider now directly owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock valued at $113,142,592 over the last quarter. Corporate insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WDAY shares. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and lifted their target price for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Thursday, February 6th. Barclays cut their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 target price on shares of Workday in a research report on Thursday, February 6th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $292.43.

Workday Stock Performance

Shares of WDAY opened at $257.92 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The firm has a fifty day moving average of $262.57 and a 200-day moving average of $251.13. The company has a market cap of $68.61 billion, a price-to-earnings ratio of 42.77, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released 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 firm had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter last year, the company earned $0.47 EPS. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Workday 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.