Wealthspire Advisors LLC Sells 406 Shares of Workday, Inc. $WDAY

Wealthspire Advisors LLC trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 27.9% in the 2nd quarter, according to its most recent disclosure with the SEC. The fund owned 1,050 shares of the software maker’s stock after selling 406 shares during the period. Wealthspire Advisors LLC’s holdings in Workday were worth $252,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in WDAY. Brighton Jones LLC raised its stake in Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after buying an additional 2,792 shares during the last quarter. Kestra Private Wealth Services LLC grew its stake in shares of Workday by 66.8% in the first quarter. Kestra Private Wealth Services LLC now owns 2,350 shares of the software maker’s stock worth $549,000 after acquiring an additional 941 shares during the last quarter. Wedbush Securities Inc. increased its holdings in shares of Workday by 2.2% during the first quarter. Wedbush Securities Inc. now owns 2,398 shares of the software maker’s stock valued at $560,000 after acquiring an additional 52 shares in the last quarter. AE Wealth Management LLC raised its position in shares of Workday by 0.4% in the 1st quarter. AE Wealth Management LLC now owns 11,896 shares of the software maker’s stock worth $2,778,000 after purchasing an additional 46 shares during the last quarter. Finally, Avantax Advisory Services Inc. raised its position in shares of Workday by 4.4% in the 1st quarter. Avantax Advisory Services Inc. now owns 20,557 shares of the software maker’s stock worth $4,801,000 after purchasing an additional 859 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 78,564 shares of the stock in a transaction that occurred on Tuesday, September 16th. The shares were sold at an average price of $220.12, for a total value of $17,293,507.68. Following the transaction, the insider owned 102,997 shares in the company, valued at $22,671,699.64. This represents a 43.27% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Michael M. Mcnamara sold 5,393 shares of the firm’s stock in a transaction that occurred on Friday, October 10th. The stock was sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the completion of the transaction, the director directly owned 24,078 shares in the company, valued at approximately $5,662,182.48. The trade was a 18.30% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 264,933 shares of company stock valued at $61,475,760 in the last 90 days. Insiders own 19.31% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently commented on the stock. Royal Bank Of Canada reissued an “outperform” rating and set a $340.00 price objective on shares of Workday in a research report on Wednesday, September 17th. Barclays upped their target price on shares of Workday from $285.00 to $288.00 and gave the stock an “overweight” rating in a research note on Thursday, September 18th. JPMorgan Chase & Co. reduced their price target on shares of Workday from $295.00 to $290.00 and set an “overweight” rating for the company in a research report on Friday, August 22nd. Bank of America decreased their price objective on shares of Workday from $295.00 to $278.00 and set a “buy” rating for the company in a report on Tuesday, August 19th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research report on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-three have assigned a Buy rating and eleven have assigned a Hold rating to the stock. According to MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $287.86.

Workday Price Performance

Shares of WDAY opened at $225.14 on Friday. The firm has a fifty day simple moving average of $233.97 and a two-hundred day simple moving average of $237.11. The firm has a market cap of $60.11 billion, a PE ratio of 104.23, a P/E/G ratio of 2.81 and a beta of 1.11. The company has a current ratio of 2.10, a quick ratio of 2.10 and a debt-to-equity ratio of 0.33. Workday, Inc. has a 1-year low of $205.33 and a 1-year high of $294.00.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 21st. The software maker reported $2.21 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.09 by $0.12. Workday had a return on equity of 9.74% and a net margin of 6.51%.The firm had revenue of $2.35 billion for the quarter, compared to the consensus estimate of $2.34 billion. During the same period last year, the business posted $1.75 EPS. The company’s revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

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.