SVB Wealth LLC Sells 13,371 Shares of Workday, Inc. (NASDAQ:WDAY)

SVB Wealth LLC cut its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 30.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 30,791 shares of the software maker’s stock after selling 13,371 shares during the quarter. SVB Wealth LLC’s holdings in Workday were worth $8,500,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

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

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 65,221 shares of Workday stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $27,633,065.13. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Workday news, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the transaction, the insider now owns 165,521 shares in the company, valued at $44,177,554.90. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 65,221 shares of Workday stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $27,633,065.13. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 379,691 shares of company stock worth $102,897,729. 21.09% of the stock is currently owned by insiders.

Workday Stock Performance

NASDAQ:WDAY opened at $257.69 on Wednesday. The stock’s fifty day moving average is $280.85 and its 200 day moving average is $262.06. Workday, Inc. has a fifty-two week low of $174.25 and a fifty-two week high of $311.28. The firm has a market capitalization of $68.03 billion, a PE ratio of 50.04, a PEG ratio of 6.49 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97.

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

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on WDAY shares. TheStreet upgraded shares of Workday from a “c” rating to a “b-” rating in a research note on Monday, February 26th. UBS Group reduced their target price on shares of Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. JPMorgan Chase & Co. upped their price target on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. BMO Capital Markets upped their price target on Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 13th. Finally, KeyCorp upped their price target on Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a research note on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target 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.