Legacy Capital Wealth Partners LLC Sells 584 Shares of Workday, Inc. (NASDAQ:WDAY)

Legacy Capital Wealth Partners LLC cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 38.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 925 shares of the software maker’s stock after selling 584 shares during the quarter. Legacy Capital Wealth Partners LLC’s holdings in Workday were worth $239,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Janus Henderson Group PLC boosted its holdings in shares of Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after buying an additional 480,459 shares during the last quarter. State Street Corp lifted its stake in Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after acquiring an additional 67,380 shares during the last quarter. Geode Capital Management LLC grew its position in shares of Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after acquiring an additional 76,618 shares during the period. The Manufacturers Life Insurance Company increased its stake in shares of Workday by 0.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after purchasing an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Workday by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after purchasing an additional 75,747 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Performance

Shares of Workday stock opened at $258.05 on Tuesday. The stock has a market cap of $68.64 billion, a price-to-earnings ratio of 42.79, a P/E/G ratio of 3.78 and a beta of 1.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company’s fifty day moving average is $262.13 and its 200 day moving average is $251.80. 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 posted its quarterly earnings data 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 analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm earned $0.47 earnings per share. Sell-side analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the stock. Barclays cut their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Wells Fargo & Company boosted their price objective on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and raised their price objective for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Thursday, February 6th. Finally, Citigroup reduced their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $292.43.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, insider Sayan Chakraborty sold 5,498 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the transaction, the insider now owns 121,100 shares in the company, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock valued at $113,142,592 over the last quarter. Insiders own 20.00% of the company’s stock.

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.