Austin Private Wealth LLC Decreases Holdings in Workday, Inc. (NASDAQ:WDAY)

Austin Private Wealth LLC cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 0.7% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,107 shares of the software maker’s stock after selling 60 shares during the quarter. Austin Private Wealth LLC’s holdings in Workday were worth $2,514,000 at the end of the most recent reporting period.

Several other large investors have also recently made changes to their positions in the business. RB Capital Management LLC grew its stake in shares of Workday by 2.8% during the 1st quarter. RB Capital Management LLC now owns 2,763 shares of the software maker’s stock worth $662,000 after acquiring an additional 76 shares during the period. Private Advisor Group LLC grew its stake in shares of Workday by 11.8% during the 1st quarter. Private Advisor Group LLC now owns 2,511 shares of the software maker’s stock worth $601,000 after acquiring an additional 265 shares during the period. MetLife Investment Management LLC bought a new position in shares of Workday during the 1st quarter worth $2,974,000. Yousif Capital Management LLC grew its stake in shares of Workday by 2.7% during the 1st quarter. Yousif Capital Management LLC now owns 2,813 shares of the software maker’s stock worth $674,000 after acquiring an additional 74 shares during the period. Finally, Raymond James Trust N.A. grew its stake in shares of Workday by 10.3% during the 1st quarter. Raymond James Trust N.A. now owns 3,391 shares of the software maker’s stock worth $812,000 after acquiring an additional 316 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts have commented on WDAY shares. UBS Group cut their target price on Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a research note on Tuesday, February 27th. Guggenheim restated a “sell” rating and issued a $190.00 target price on shares of Workday in a research note on Tuesday, February 27th. Citigroup raised their target price on Workday from $270.00 to $293.00 and gave the stock a “neutral” rating in a research note on Tuesday, February 27th. BMO Capital Markets raised their target price on Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Finally, JMP Securities restated a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating, twenty-one have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 65,524 shares of Workday stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $265.66, for a total value of $17,407,105.84. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,362,183.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value 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 SEC, which is available through this link. Also, major shareholder David A. Duffield sold 65,524 shares of Workday stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $265.66, for a total value of $17,407,105.84. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $27,362,183.02. The disclosure for this sale can be found here. Insiders have sold 463,484 shares of company stock valued at $126,630,341 in the last ninety days. Company insiders own 21.09% of the company’s stock.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $272.75 on Friday. The stock has a market cap of $72.01 billion, a price-to-earnings ratio of 52.96, a P/E/G ratio of 6.84 and a beta of 1.33. 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 1-year low of $174.25 and a 1-year high of $311.28. The stock’s 50-day moving average is $287.51 and its 200 day moving average is $258.71.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.14) EPS. On average, sell-side analysts anticipate that Workday, Inc. will post 1.76 EPS for the current fiscal 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.