Workday, Inc. (NASDAQ:WDAY) Shares Sold by Montag A & Associates Inc.

Montag A & Associates Inc. lessened its position in Workday, Inc. (NASDAQ:WDAY) by 1.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 3,684 shares of the software maker’s stock after selling 63 shares during the period. Montag A & Associates Inc.’s holdings in Workday were worth $1,005,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Vontobel Holding Ltd. raised its position in shares of Workday by 5.1% in the fourth quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock valued at $18,517,000 after buying an additional 3,260 shares during the last quarter. Assetmark Inc. increased its position in Workday by 9.9% during the fourth quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock worth $5,912,000 after purchasing an additional 1,933 shares during the last quarter. Bornite Capital Management LP acquired a new position in Workday during the fourth quarter worth approximately $34,508,000. Nordea Investment Management AB increased its position in Workday by 3.0% during the first quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after purchasing an additional 13,502 shares during the last quarter. Finally, Bain Capital Public Equity LP increased its position in Workday by 32.5% during the fourth quarter. Bain Capital Public Equity LP now owns 22,471 shares of the software maker’s stock worth $6,203,000 after purchasing an additional 5,513 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $210.28, for a total value of $17,403,193.36. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. In related news, major shareholder David A. Duffield sold 82,762 shares of the stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $210.28, for a total value of $17,403,193.36. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 78,279 shares of the stock in a transaction dated Monday, July 1st. The stock was sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $23,059,998.33. The disclosure for this sale can be found here. Insiders have sold a total of 468,672 shares of company stock valued at $103,096,914 in the last quarter. Company insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

Several equities analysts recently commented on the stock. Guggenheim reaffirmed a “sell” rating and set a $190.00 price target on shares of Workday in a research report on Tuesday, June 25th. Jefferies Financial Group dropped their price target on shares of Workday from $350.00 to $330.00 and set a “buy” rating for the company in a research report on Friday, May 24th. TD Cowen dropped their price target on shares of Workday from $330.00 to $290.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Morgan Stanley dropped their price target on shares of Workday from $330.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Finally, Wells Fargo & Company decreased their price objective on shares of Workday from $325.00 to $275.00 and set an “overweight” rating for the company in a research note on Friday, June 21st. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $281.44.

Workday Stock Performance

Shares of NASDAQ:WDAY traded up $2.18 on Monday, reaching $232.20. 1,354,889 shares of the company’s stock were exchanged, compared to its average volume of 2,188,877. The firm has a market capitalization of $61.53 billion, a price-to-earnings ratio of 41.45, a PEG ratio of 5.79 and a beta of 1.35. Workday, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $311.28. The business’s 50-day moving average is $227.39 and its two-hundred day moving average is $259.93. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. The company had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. The firm’s revenue was up 18.1% compared to the same quarter last year. During the same period in the prior year, the company earned $0.16 earnings per share. As a group, equities research analysts forecast that Workday, Inc. will post 2.12 EPS for the current 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.