Burney Co. Decreases Stake in Workday, Inc. (NASDAQ:WDAY)

Burney Co. lessened its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 46.3% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,047 shares of the software maker’s stock after selling 1,763 shares during the quarter. Burney Co.’s holdings in Workday were worth $528,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Sanctuary Advisors LLC grew its position in shares of Workday by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after acquiring an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP bought a new stake in shares of Workday during the 3rd quarter worth $4,424,000. ICICI Prudential Asset Management Co Ltd increased its position in shares of Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after acquiring an additional 7,802 shares in the last quarter. Nordea Investment Management AB boosted its position in Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after acquiring an additional 119,769 shares during the period. Finally, Legal & General Group Plc grew its position in Workday by 7.4% during the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now directly 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the transaction, the insider now owns 60,000 shares of the company’s stock, valued at approximately $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 have sold 438,819 shares of company stock worth $113,142,592 over the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $249.64 on Friday. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The firm has a market cap of $66.40 billion, a price-to-earnings ratio of 41.40, a P/E/G ratio of 4.51 and a beta of 1.34. The stock’s fifty day moving average price is $262.54 and its two-hundred day moving average price is $246.48. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the company posted $0.47 EPS. The company’s revenue was up 15.8% compared to the same quarter last year. On average, equities analysts forecast that Workday, Inc. will post 2.64 EPS for the current year.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of research reports. Piper Sandler restated a “neutral” rating and issued a $270.00 price objective (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Oppenheimer restated an “outperform” rating and set a $300.00 target price on shares of Workday in a research note on Tuesday, December 3rd. Wells Fargo & Company boosted their price target on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $292.25.

Workday 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.