Workday, Inc. (NASDAQ:WDAY) Stock Position Cut by Oppenheimer Asset Management Inc.

Oppenheimer Asset Management Inc. cut its position in shares of Workday, Inc. (NASDAQ:WDAY) by 3.1% during the 4th quarter, Holdings Channel reports. The firm owned 89,262 shares of the software maker’s stock after selling 2,878 shares during the period. Oppenheimer Asset Management Inc.’s holdings in Workday were worth $23,032,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Marcum Wealth LLC grew its position in Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after buying an additional 41 shares during the last quarter. Custom Index Systems LLC increased its position in shares of Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after acquiring an additional 41 shares in the last quarter. Meeder Asset Management Inc. lifted its position in shares of 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 acquiring an additional 43 shares in the last quarter. Kingsview Wealth Management LLC grew its position in Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 43 shares in the last quarter. Finally, Fulton Bank N.A. lifted its holdings in shares of Workday by 1.3% in the fourth 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 in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ:WDAY opened at $271.09 on Thursday. The stock has a market capitalization of $72.11 billion, a P/E ratio of 44.96, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $298.50. The firm has a 50 day moving average of $260.01 and a 200-day moving average of $254.24. 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 (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the transaction, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. This represents a 21.09 % 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, insider Sayan Chakraborty sold 5,498 shares of the stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. The trade was a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock valued at $113,142,592 over the last three months. 20.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several recent analyst reports. The Goldman Sachs Group upped their price target on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research report on Wednesday. KeyCorp raised their price target on shares of Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a report on Wednesday. Wells Fargo & Company increased their target price on shares of Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research report on Wednesday. Morgan Stanley cut shares of Workday from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Finally, Loop Capital increased their price objective on Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $301.11.

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.