Empower Advisory Group LLC Trims Position in Workday, Inc. (NASDAQ:WDAY)

Empower Advisory Group LLC trimmed its holdings in Workday, Inc. (NASDAQ:WDAY) by 47.3% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 810 shares of the software maker’s stock after selling 727 shares during the period. Empower Advisory Group LLC’s holdings in Workday were worth $209,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in WDAY. Whittier Trust Co. of Nevada Inc. raised its holdings in shares of Workday by 73.1% in the third quarter. Whittier Trust Co. of Nevada Inc. now owns 289 shares of the software maker’s stock valued at $71,000 after buying an additional 122 shares during the last quarter. Sequoia Financial Advisors LLC increased its stake in shares of Workday by 13.0% during the third quarter. Sequoia Financial Advisors LLC now owns 2,561 shares of the software maker’s stock worth $626,000 after acquiring an additional 295 shares during the period. Signaturefd LLC increased its stake in shares of Workday by 9.7% during the third quarter. Signaturefd LLC now owns 3,460 shares of the software maker’s stock worth $846,000 after acquiring an additional 307 shares during the period. International Assets Investment Management LLC increased its stake in shares of Workday by 24,593.2% during the third quarter. International Assets Investment Management LLC now owns 215,325 shares of the software maker’s stock worth $52,628,000 after acquiring an additional 214,453 shares during the period. Finally, YHB Investment Advisors Inc. increased its stake in shares of Workday by 26.3% during the third quarter. YHB Investment Advisors Inc. now owns 2,954 shares of the software maker’s stock worth $722,000 after acquiring an additional 616 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Performance

Shares of WDAY opened at $261.63 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market capitalization of $69.59 billion, a price-to-earnings ratio of 43.39, a PEG ratio of 3.62 and a beta of 1.35. The company’s 50 day simple moving average is $261.10 and its 200 day simple moving average is $252.54. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.47 earnings per share. On average, sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

A number of brokerages have recently issued reports on WDAY. Wells Fargo & Company boosted their price target on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Citigroup dropped their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Loop Capital boosted their price target on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday. The Goldman Sachs Group boosted their price target on shares of Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Finally, Scotiabank initiated coverage on shares of Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $291.11.

Insider Activity at Workday

In other Workday news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 438,819 shares of company stock valued at $113,142,592. Company insiders own 20.00% of the company’s stock.

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.