F M Investments LLC Trims Stock Position in Workday, Inc. (NASDAQ:WDAY)

F M Investments LLC lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 4.1% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 6,576 shares of the software maker’s stock after selling 280 shares during the period. F M Investments LLC’s holdings in Workday were worth $1,815,000 at the end of the most recent quarter.

Other institutional investors have also recently modified their holdings of the company. Vontobel Holding Ltd. grew its position in Workday by 5.1% in the fourth quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock worth $18,517,000 after acquiring an additional 3,260 shares during the period. Morgan Stanley raised its stake in Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after buying an additional 872,288 shares in the last quarter. QRG Capital Management Inc. acquired a new stake in shares of Workday during the third quarter worth about $345,000. Assenagon Asset Management S.A. increased its position in shares of Workday by 58.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 278,569 shares of the software maker’s stock worth $76,902,000 after purchasing an additional 103,171 shares in the last quarter. Finally, Mariner LLC increased its position in shares of Workday by 21.1% during the third quarter. Mariner LLC now owns 28,304 shares of the software maker’s stock worth $6,081,000 after purchasing an additional 4,927 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Trading Up 1.3 %

Shares of NASDAQ WDAY traded up $3.29 during trading on Tuesday, hitting $256.82. 1,281,995 shares of the company traded hands, compared to its average volume of 1,762,242. Workday, Inc. has a 1 year low of $174.25 and a 1 year high of $311.28. The company has a 50-day moving average price of $276.48 and a 200-day moving average price of $263.66. The firm has a market capitalization of $67.80 billion, a P/E ratio of 49.87, a P/E/G ratio of 6.30 and a beta of 1.32. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same period in the previous year, the company earned ($0.14) EPS. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, equities analysts predict that Workday, Inc. will post 1.76 EPS for the current year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 64,329 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $27,690,743.45. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $27,690,743.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction that occurred on Monday, March 18th. The stock was sold at an average price of $272.02, for a total transaction of $15,505,140.00. Following the completion of the transaction, the insider now owns 1,067,000 shares in the company, valued at approximately $290,245,340. The disclosure for this sale can be found here. Insiders sold a total of 435,691 shares of company stock valued at $117,731,569 in the last ninety days. Insiders own 21.09% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of research reports. Piper Sandler reissued an “overweight” rating and set a $330.00 price target on shares of Workday in a report on Monday, February 26th. DA Davidson reaffirmed a “neutral” rating and issued a $300.00 price objective on shares of Workday in a report on Tuesday, February 27th. UBS Group lowered their price objective on Workday from $315.00 to $300.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Mizuho boosted their price target on Workday from $290.00 to $325.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, Evercore ISI boosted their price target on Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average target price of $293.61.

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.