Inspirion Wealth Advisors LLC Reduces Holdings in Workday, Inc. (NASDAQ:WDAY)

Inspirion Wealth Advisors LLC trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY) by 8.3% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 33,258 shares of the software maker’s stock after selling 3,000 shares during the quarter. Workday accounts for approximately 1.2% of Inspirion Wealth Advisors LLC’s investment portfolio, making the stock its 17th largest position. Inspirion Wealth Advisors LLC’s holdings in Workday were worth $8,304,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Janus Henderson Group PLC boosted its stake in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after purchasing an additional 480,459 shares during the period. State Street Corp boosted its stake in shares of Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after purchasing an additional 67,380 shares during the period. Geode Capital Management LLC raised its holdings in shares of Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after acquiring an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company raised its holdings in shares of Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after acquiring an additional 14,159 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after acquiring an additional 75,747 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

Shares of WDAY opened at $250.70 on Friday. The firm has a market cap of $66.69 billion, a price-to-earnings ratio of 41.58, a PEG ratio of 4.51 and a beta of 1.34. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $262.69 and a 200-day moving average of $246.45.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share 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 the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.47 EPS. As a group, analysts forecast that Workday, Inc. will post 2.64 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on WDAY shares. Wells Fargo & Company boosted their target price on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a report on Monday, December 9th. Mizuho upped their price objective on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a report on Friday, December 13th. Citigroup cut their price objective on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday. Piper Sandler restated a “neutral” rating and set a $270.00 price objective (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Finally, Guggenheim upgraded Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $292.25.

Insider Transactions at Workday

In other news, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction 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 sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 70,090 shares of Workday stock in a transaction 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 completion of the transaction, the insider now owns 102,997 shares in the company, valued at $26,215,826.41. The trade was a 40.49 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, 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.