Empower Advisory Group LLC Sells 111 Shares of Workday, Inc. (NASDAQ:WDAY)

Empower Advisory Group LLC trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY) by 6.7% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,537 shares of the software maker’s stock after selling 111 shares during the period. Empower Advisory Group LLC’s holdings in Workday were worth $376,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Bleakley Financial Group LLC grew its position in Workday by 2.5% during the first quarter. Bleakley Financial Group LLC now owns 3,335 shares of the software maker’s stock worth $910,000 after buying an additional 80 shares in the last quarter. Koshinski Asset Management Inc. bought a new stake in shares of Workday during the first quarter valued at approximately $269,000. Kingsview Wealth Management LLC raised its stake in shares of Workday by 52.3% in the first quarter. Kingsview Wealth Management LLC now owns 4,963 shares of the software maker’s stock valued at $1,354,000 after purchasing an additional 1,705 shares in the last quarter. HBK Sorce Advisory LLC bought a new position in Workday in the first quarter worth $220,000. Finally, Dorsey & Whitney Trust CO LLC boosted its stake in Workday by 4.4% during the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker’s stock worth $281,000 after buying an additional 43 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research analysts recently issued reports on the stock. JMP Securities reissued a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Thursday, September 19th. Evercore ISI lowered their price target on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. Morgan Stanley cut their price objective on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. BMO Capital Markets reaffirmed an “outperform” rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, September 18th. Finally, Bank of America boosted their price target on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research report on Friday, August 23rd. One equities 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. According to data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $287.59.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.29, for a total value of $812,365.09. Following the completion of the sale, the insider now directly owns 196,344 shares in the company, valued at $51,106,379.76. This represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 370,575 shares of company stock worth $91,506,897 over the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Performance

Shares of WDAY stock opened at $271.49 on Friday. The stock has a market cap of $71.94 billion, a PE ratio of 47.30, a price-to-earnings-growth ratio of 5.49 and a beta of 1.35. The stock has a 50-day moving average of $246.33 and a 200-day moving average of $236.28. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.40 earnings per share. As a group, 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.