SVB Wealth LLC Lowers Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

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

Several other hedge funds and other institutional investors also recently modified their holdings of WDAY. RB Capital Management LLC grew its stake in shares of Workday by 2.8% in the 1st quarter. RB Capital Management LLC now owns 2,763 shares of the software maker’s stock valued at $662,000 after purchasing an additional 76 shares during the last quarter. Private Advisor Group LLC boosted its stake in shares of Workday by 11.8% in the first quarter. Private Advisor Group LLC now owns 2,511 shares of the software maker’s stock valued at $601,000 after buying an additional 265 shares in the last quarter. MetLife Investment Management LLC purchased a new stake in shares of Workday in the first quarter valued at approximately $2,974,000. Yousif Capital Management LLC boosted 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 valued at $674,000 after buying an additional 74 shares in the last quarter. Finally, Raymond James Trust N.A. boosted 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 valued at $812,000 after buying an additional 316 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Price Performance

WDAY stock opened at $257.69 on Wednesday. The stock has a 50-day moving average price of $280.85 and a two-hundred day moving average price of $262.06. Workday, Inc. has a 12-month low of $174.25 and a 12-month high of $311.28. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The company has a market cap of $68.03 billion, a PE ratio of 50.04, a price-to-earnings-growth ratio of 6.49 and a beta of 1.32.

Workday (NASDAQ:WDAY) last issued 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 company had revenue of $1.92 billion during the quarter, compared to the consensus estimate of $1.92 billion. During the same quarter in the prior year, the business earned ($0.14) earnings per share. The company’s revenue was up 16.8% compared to the same quarter last year. As a group, research analysts predict that Workday, Inc. will post 1.76 EPS for the current year.

Insider Transactions at Workday

In other news, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the sale, the insider now owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In related news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the transaction, the insider now owns 165,932 shares in the company, valued at $48,749,162.28. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Douglas A. Robinson sold 411 shares of the business’s 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 completion of the transaction, the insider now owns 165,521 shares in the company, valued at approximately $44,177,554.90. The disclosure for this sale can be found here. Insiders sold 379,691 shares of company stock valued at $102,897,729 over the last quarter. Company insiders own 21.09% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the company. JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Tuesday, February 27th. Mizuho lifted their price target on Workday from $290.00 to $325.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Guggenheim reaffirmed a “sell” rating and set a $190.00 price objective on shares of Workday in a report on Tuesday, February 27th. Citigroup lifted their price objective on Workday from $270.00 to $293.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Finally, Stifel Nicolaus lifted their price objective on Workday from $250.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus 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.