NewEdge Wealth LLC Sells 4,231 Shares of Workday, Inc. $WDAY

NewEdge Wealth LLC reduced its holdings in Workday, Inc. (NASDAQ:WDAY) by 35.0% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 7,849 shares of the software maker’s stock after selling 4,231 shares during the quarter. NewEdge Wealth LLC’s holdings in Workday were worth $1,020,000 at the end of the most recent quarter.

Several other hedge funds have also recently made changes to their positions in WDAY. First Trust Advisors LP increased its position in Workday by 9.6% during the 1st quarter. First Trust Advisors LP now owns 1,416,176 shares of the software maker’s stock valued at $183,990,000 after purchasing an additional 124,524 shares during the period. Temasek Holdings Private Ltd grew its stake in shares of Workday by 9.5% in the 1st quarter. Temasek Holdings Private Ltd now owns 889,318 shares of the software maker’s stock worth $115,540,000 after buying an additional 77,330 shares during the last quarter. PNC Financial Services Group Inc. increased its holdings in shares of Workday by 17.1% during the first quarter. PNC Financial Services Group Inc. now owns 123,736 shares of the software maker’s stock valued at $16,076,000 after acquiring an additional 18,028 shares in the last quarter. Oslo Pensjonsforsikring AS bought a new stake in Workday during the 1st quarter valued at about $229,000. Finally, Baader Bank Aktiengesellschaft bought a new stake in shares of Workday during the first quarter valued at approximately $428,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other Workday news, insider Robert Enslin sold 5,374 shares of the stock in a transaction that occurred on Sunday, July 5th. The shares were sold at an average price of $134.90, for a total value of $724,952.60. Following the transaction, the insider directly owned 239,469 shares in the company, valued at approximately $32,304,368.10. This trade represents a 2.19% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction on Tuesday, July 7th. The stock was sold at an average price of $143.70, for a total transaction of $862,200.00. Following the transaction, the chief financial officer owned 288,460 shares in the company, valued at $41,451,702. This represents a 2.04% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Over the last quarter, insiders have sold 875,020 shares of company stock valued at $113,938,503. 18.64% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on WDAY shares. Wells Fargo & Company boosted their price target on Workday from $180.00 to $185.00 and gave the stock an “overweight” rating in a research note on Friday, May 22nd. Sanford C. Bernstein reaffirmed an “outperform” rating and set a $216.00 price objective on shares of Workday in a research report on Friday, May 22nd. DA Davidson set a $135.00 price objective on Workday in a report on Tuesday, May 26th. KeyCorp boosted their target price on Workday from $155.00 to $158.00 and gave the stock an “overweight” rating in a research report on Friday, May 22nd. Finally, Monness Crespi & Hardt upgraded shares of Workday from a “neutral” rating to a “buy” rating and set a $150.00 target price on the stock in a research note on Thursday, June 25th. One equities research analyst has rated the stock with a Strong Buy rating, nineteen have issued a Buy rating, thirteen have assigned a Hold rating and three have assigned a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $179.80.

Workday Stock Up 9.0%

Workday stock opened at $147.54 on Tuesday. Workday, Inc. has a one year low of $110.36 and a one year high of $249.85. The stock has a fifty day moving average of $133.51 and a 200 day moving average of $140.92. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.01 and a current ratio of 1.01. The stock has a market cap of $36.44 billion, a PE ratio of 46.11, a price-to-earnings-growth ratio of 1.44 and a beta of 1.11.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.51 by $0.15. The business had revenue of $2.54 billion for the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The business’s revenue for the quarter was up 13.5% on a year-over-year basis. During the same period last year, the firm posted $2.23 earnings per share. As a group, sell-side analysts predict that Workday, Inc. will post 5.38 EPS for the current year.

Workday Profile

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.