1858 Wealth Management LLC Reduces Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

1858 Wealth Management LLC lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 20.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 2,320 shares of the software maker’s stock after selling 580 shares during the period. 1858 Wealth Management LLC’s holdings in Workday were worth $567,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. William Blair Investment Management LLC lifted its stake in shares of Workday by 17.6% in the 1st quarter. William Blair Investment Management LLC now owns 32,442 shares of the software maker’s stock valued at $8,849,000 after purchasing an additional 4,865 shares during the period. ORG Partners LLC boosted its holdings in shares of Workday by 3,717.9% during the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after buying an additional 3,123 shares in the last quarter. Nordea Investment Management AB grew its position in shares of Workday by 3.0% in the 1st quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after buying an additional 13,502 shares during the period. O Shaughnessy Asset Management LLC increased its stake in shares of Workday by 42.1% in the 1st quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock worth $3,649,000 after acquiring an additional 3,965 shares in the last quarter. Finally, Vanguard Group Inc. lifted its position in Workday by 2.2% during the 1st quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after acquiring an additional 324,540 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the transaction, the director now owns 97,500 shares in the company, valued at $25,381,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the transaction, the director now owns 97,500 shares in the company, valued at $25,381,200. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,828 shares of the firm’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the sale, the director now owns 8,674 shares in the company, valued at approximately $2,097,806.90. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock worth $91,506,897 in the last quarter. Company insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on the stock. BMO Capital Markets restated an “outperform” rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. Stifel Nicolaus upped their price target on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Morgan Stanley lowered their price objective on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a research note on Friday, August 23rd. Loop Capital increased their target price on Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, The Goldman Sachs Group lifted their price target on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus target price of $287.04.

Workday Stock Performance

Shares of NASDAQ:WDAY traded down $0.57 during trading on Monday, hitting $243.91. The company’s stock had a trading volume of 248,956 shares, compared to its average volume of 2,139,507. The company has a 50-day moving average of $245.21 and a 200-day moving average of $237.79. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market cap of $64.64 billion, a price-to-earnings ratio of 43.77, a P/E/G ratio of 4.85 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same quarter in the prior year, the business earned $0.40 EPS. The business’s quarterly revenue was up 16.5% on a year-over-year basis. On average, sell-side analysts expect that Workday, Inc. will post 2.4 earnings per share for the current year.

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.