Workday, Inc. (NASDAQ:WDAY) Shares Sold by Inspirion Wealth Advisors LLC

Inspirion Wealth Advisors LLC trimmed its stake in Workday, Inc. (NASDAQ:WDAY) by 8.3% during the fourth quarter, HoldingsChannel.com reports. The fund owned 33,258 shares of the software maker’s stock after selling 3,000 shares during the period. Workday makes up approximately 1.2% of Inspirion Wealth Advisors LLC’s holdings, making the stock its 17th biggest position. Inspirion Wealth Advisors LLC’s holdings in Workday were worth $8,304,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of WDAY. Gateway Investment Advisers LLC grew its holdings in shares of Workday by 17.1% during the fourth quarter. Gateway Investment Advisers LLC now owns 29,839 shares of the software maker’s stock valued at $7,699,000 after buying an additional 4,351 shares in the last quarter. Beech Hill Advisors Inc. grew its holdings in shares of Workday by 13.3% during the fourth quarter. Beech Hill Advisors Inc. now owns 6,574 shares of the software maker’s stock valued at $1,696,000 after buying an additional 770 shares in the last quarter. Mirador Capital Partners LP grew its holdings in shares of Workday by 21.0% during the fourth quarter. Mirador Capital Partners LP now owns 13,940 shares of the software maker’s stock valued at $3,597,000 after buying an additional 2,417 shares in the last quarter. Hennion & Walsh Asset Management Inc. boosted its position in Workday by 19.3% during the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,764 shares of the software maker’s stock valued at $455,000 after purchasing an additional 285 shares during the last quarter. Finally, Connective Portfolio Management LLC acquired a new stake in Workday during the fourth quarter valued at $310,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Performance

NASDAQ WDAY opened at $250.70 on Friday. The company has a market capitalization of $66.69 billion, a price-to-earnings ratio of 41.58, a PEG ratio of 4.51 and a beta of 1.34. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The stock has a fifty day simple moving average of $262.69 and a 200 day simple moving average of $246.45. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’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. Sell-side analysts expect that Workday, Inc. will post 2.64 EPS for the current year.

Analysts Set New Price Targets

A number of analysts recently issued reports on WDAY shares. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and lifted their price objective for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Loop Capital reduced their price target on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. StockNews.com cut Workday from a “buy” rating to a “hold” rating in a research report on Monday. Barclays cut their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Finally, Morgan Stanley boosted their price objective on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $292.25.

Insider Transactions at Workday

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the transaction, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 70,003 shares of the firm’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $25,872,846.40. The trade was a 40.46 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock valued at $113,142,592 in the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

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.