BIP Wealth LLC Cuts Position in Workday, Inc. (NASDAQ:WDAY)

BIP Wealth LLC trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 12.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,600 shares of the software maker’s stock after selling 218 shares during the period. BIP Wealth LLC’s holdings in Workday were worth $442,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. ORG Partners LLC raised its stake in shares of Workday by 1.2% during the fourth quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock valued at $788,000 after acquiring an additional 34 shares during the last quarter. Washington Trust Advisors Inc. raised its stake in Workday by 8.1% in the fourth quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock worth $133,000 after buying an additional 36 shares in the last quarter. Meitav Investment House Ltd. raised its stake in Workday by 2.6% in the fourth quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock worth $387,000 after buying an additional 36 shares in the last quarter. Cigna Investments Inc. New raised its stake in Workday by 1.7% in the fourth quarter. Cigna Investments Inc. New now owns 2,167 shares of the software maker’s stock worth $598,000 after buying an additional 37 shares in the last quarter. Finally, Waldron Private Wealth LLC raised its stake in Workday by 0.9% in the fourth quarter. Waldron Private Wealth LLC now owns 4,691 shares of the software maker’s stock worth $1,294,000 after buying an additional 40 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Price Performance

Shares of WDAY traded up $0.81 during trading hours on Thursday, reaching $256.55. 708,055 shares of the stock traded hands, compared to its average volume of 1,741,207. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 52-week low of $174.25 and a 52-week high of $311.28. The company’s 50-day moving average price is $275.55 and its two-hundred day moving average price is $263.60. The company has a market cap of $67.73 billion, a P/E ratio of 49.66, a price-to-earnings-growth ratio of 6.42 and a beta of 1.32.

Workday (NASDAQ:WDAY) last released its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the company earned ($0.14) EPS. Workday’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, analysts anticipate that Workday, Inc. will post 1.76 earnings per share for the current year.

Analyst Ratings Changes

WDAY has been the subject of a number of research reports. The Goldman Sachs Group increased their price target on shares of Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Needham & Company LLC lifted their target price on shares of Workday from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Mizuho lifted their target price on shares of Workday from $290.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. lifted their target price on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. Finally, DA Davidson reiterated a “neutral” rating and set a $300.00 target price on shares of Workday in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the stock. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $293.61.

Insider Activity at Workday

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other news, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the sale, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 65,221 shares of the company’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the transaction, the insider now owns 102,997 shares in the company, valued at $27,633,065.13. The disclosure for this sale can be found here. In the last quarter, insiders have sold 435,691 shares of company stock worth $117,731,569. 21.09% of the stock is owned by corporate insiders.

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.