Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Zurcher Kantonalbank Zurich Cantonalbank lowered its position in Workday, Inc. (NASDAQ:WDAY) by 58.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 73,901 shares of the software maker’s stock after selling 105,563 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Workday were worth $20,401,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of WDAY. Beacon Capital Management LLC grew its holdings in shares of Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after purchasing an additional 70 shares during the period. Strategic Investment Solutions Inc. IL purchased a new stake in shares of Workday in the first quarter valued at about $25,000. VisionPoint Advisory Group LLC grew its holdings in shares of Workday by 215.4% in the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares during the period. Clear Street Markets LLC purchased a new stake in shares of Workday in the third quarter valued at about $29,000. Finally, Quarry LP purchased a new stake in shares of Workday in the second quarter valued at about $29,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Down 0.3 %

Shares of WDAY stock opened at $257.02 on Thursday. The stock has a 50-day simple moving average of $280.10 and a 200 day simple moving average of $262.03. Workday, Inc. has a fifty-two week low of $174.25 and a fifty-two week high of $311.28. The stock has a market capitalization of $67.85 billion, a P/E ratio of 49.91, a P/E/G ratio of 6.44 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 earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, beating 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 analysts’ expectations of $1.92 billion. During the same quarter last year, the business posted ($0.14) earnings per share. The company’s quarterly revenue was up 16.8% on a year-over-year basis. On average, sell-side analysts expect that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of research analysts have commented on WDAY shares. The Goldman Sachs Group upped their target price on shares of Workday from $270.00 to $310.00 and gave the company a “buy” rating in a research report on Tuesday, February 27th. UBS Group decreased their target price on shares of Workday from $315.00 to $300.00 and set a “neutral” rating on the stock in a research report on Tuesday, February 27th. Evercore ISI upped their target price on shares of Workday from $310.00 to $350.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Piper Sandler reaffirmed an “overweight” rating and issued a $330.00 target price on shares of Workday in a research report on Monday, February 26th. Finally, TheStreet raised shares of Workday from a “c” rating to a “b-” rating in a research report on Monday, February 26th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $293.61.

Insiders Place Their Bets

In other Workday news, insider Douglas A. Robinson sold 411 shares of the firm’s stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total transaction of $109,695.90. Following the completion of the sale, the insider now directly owns 165,521 shares in the company, valued at approximately $44,177,554.90. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the firm’s 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 owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, insider Douglas A. Robinson sold 411 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the completion of the sale, the insider now directly owns 165,521 shares in the company, valued at approximately $44,177,554.90. The disclosure for this sale can be found here. In the last ninety days, insiders sold 435,691 shares of company stock worth $117,731,569. 21.09% of the stock is currently owned by company 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.