Workday, Inc. (NASDAQ:WDAY) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. reduced its holdings in Workday, Inc. (NASDAQ:WDAY) by 35.6% in the 3rd quarter, HoldingsChannel.com reports. The firm owned 12,470 shares of the software maker’s stock after selling 6,893 shares during the quarter. Edgestream Partners L.P.’s holdings in Workday were worth $3,048,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WDAY. Capital Performance Advisors LLP acquired a new position in Workday in the third quarter valued at $26,000. SouthState Corp increased its stake in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after acquiring an additional 129 shares during the last quarter. Crewe Advisors LLC increased its stake in Workday by 56.6% during the second quarter. Crewe Advisors LLC now owns 155 shares of the software maker’s stock worth $35,000 after acquiring an additional 56 shares during the last quarter. Goodman Advisory Group LLC acquired a new stake in Workday during the second quarter worth about $35,000. Finally, Meeder Asset Management Inc. increased 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 acquiring an additional 43 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have commented on WDAY. 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. Piper Sandler restated a “neutral” rating and set a $270.00 price target (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. The Goldman Sachs Group upped their price target on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, September 19th. Wells Fargo & Company upped their price target on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Finally, Loop Capital lowered their target price on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have issued a buy rating to the stock. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.14.

Workday Trading Down 1.3 %

NASDAQ:WDAY opened at $249.99 on Monday. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The business’s 50 day moving average is $248.77 and its two-hundred day moving average is $237.30. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a market cap of $66.25 billion, a PE ratio of 41.46, a P/E/G ratio of 4.96 and a beta of 1.35.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.21% and a net margin of 19.86%. Workday’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business posted $0.47 EPS. On average, analysts predict that Workday, Inc. will post 2.4 EPS for the current year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction that occurred on 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 sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the sale, the director now owns 90,000 shares in the company, valued at $22,990,500. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 359,954 shares of company stock worth $88,742,132. 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.