Workday, Inc. (NASDAQ:WDAY) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lessened its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 10.8% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,229 shares of the software maker’s stock after selling 271 shares during the quarter. First Citizens Bank & Trust Co.’s holdings in Workday were worth $575,000 at the end of the most recent quarter.

Several other hedge funds have also made changes to their positions in WDAY. Capital Performance Advisors LLP acquired a new position in shares of Workday during the 3rd quarter valued at about $26,000. Meeder Asset Management Inc. raised its stake in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the period. New Millennium Group LLC grew its stake in shares of Workday by 177.4% during the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after buying an additional 94 shares during the period. True Wealth Design LLC grew its stake in shares of Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after buying an additional 143 shares during the period. Finally, Fortitude Family Office LLC increased its holdings in shares of Workday by 713.6% during the 3rd quarter. Fortitude Family Office LLC now owns 179 shares of the software maker’s stock worth $44,000 after buying an additional 157 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $264.25 on Tuesday. The business has a fifty day simple moving average of $260.91 and a 200 day simple moving average of $247.93. 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, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The firm has a market cap of $70.29 billion, a price-to-earnings ratio of 43.82, a P/E/G ratio of 4.58 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its quarterly 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 business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.47 EPS. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on WDAY. Barclays dropped their price target on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Citigroup cut their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Bank of America reduced their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Monday, November 25th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Insiders Place Their Bets

In related news, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction 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 transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This represents a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 transaction of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares in the company, valued at $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 sold 438,819 shares of company stock valued at $113,142,592 over the last 90 days. 20.00% of the stock is currently owned by company insiders.

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.