Icon Wealth Advisors LLC Trims Stake in Workday, Inc. $WDAY

Icon Wealth Advisors LLC lowered its position in Workday, Inc. (NASDAQ:WDAY) by 80.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,221 shares of the software maker’s stock after selling 5,013 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Workday were worth $262,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Rakuten Securities Inc. purchased a new stake in shares of Workday in the second quarter valued at $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Workday in the third quarter worth about $26,000. DT Investment Partners LLC bought a new position in shares of Workday in the fourth quarter worth about $27,000. LRI Investments LLC bought a new position in shares of Workday in the fourth quarter worth about $29,000. Finally, JPL Wealth Management LLC bought a new position in shares of Workday in the third quarter worth about $30,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In other news, CFO Zane Rowe sold 6,000 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.22, for a total value of $769,320.00. Following the sale, the chief financial officer directly owned 217,930 shares in the company, valued at approximately $27,942,984.60. This trade represents a 2.68% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 the firm’s stock in a transaction dated Friday, June 12th. The shares were sold at an average price of $128.52, for a total transaction of $13,815,900.00. Following the completion of the sale, the insider owned 105,049 shares in the company, valued at $13,500,897.48. This represents a 50.58% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders sold 882,314 shares of company stock worth $116,525,216. Insiders own 18.64% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on WDAY shares. Weiss Ratings cut shares of Workday from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 20th. Citigroup restated a “market perform” rating on shares of Workday in a report on Friday, May 22nd. Sanford C. Bernstein restated an “outperform” rating and issued a $216.00 price target on shares of Workday in a report on Friday, May 22nd. Royal Bank Of Canada restated an “outperform” rating on shares of Workday in a report on Friday, May 22nd. Finally, Robert W. Baird set a $195.00 price target on shares of Workday in a report on Tuesday, February 24th. One analyst has rated the stock with a Strong Buy rating, eighteen have issued a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $185.03.

Workday Stock Down 0.9%

Shares of Workday stock opened at $129.60 on Tuesday. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.01 and a quick ratio of 1.01. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $249.85. The firm’s 50-day moving average is $128.05 and its two-hundred day moving average is $158.82. The stock has a market cap of $32.01 billion, a price-to-earnings ratio of 40.50, a PEG ratio of 1.39 and a beta of 1.09.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.15. Workday had a net margin of 8.60% and a return on equity of 14.75%. The company had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. During the same period in the prior year, the business earned $2.23 EPS. The firm’s quarterly revenue was up 13.5% on a year-over-year basis. As a group, research analysts expect that Workday, Inc. will post 5.4 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.