Zurcher Kantonalbank Zurich Cantonalbank Trims Stock Position in Workday, Inc. (NASDAQ:WDAY)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in Workday, Inc. (NASDAQ:WDAY) by 56.3% during the second quarter, HoldingsChannel reports. The institutional investor owned 98,521 shares of the software maker’s stock after selling 127,145 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Workday were worth $22,025,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the stock. VisionPoint Advisory Group LLC increased its stake in Workday by 27.6% in the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock valued at $43,000 after buying an additional 34 shares during the period. Carolinas Wealth Consulting LLC increased its stake in shares of Workday by 9.7% during the fourth quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after acquiring an additional 34 shares during the period. Congress Wealth Management LLC DE increased its stake in shares of Workday by 2.4% during the fourth quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock worth $458,000 after acquiring an additional 39 shares during the period. Raleigh Capital Management Inc. raised its holdings in Workday by 4.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock worth $240,000 after purchasing an additional 39 shares in the last quarter. Finally, Hudson Value Partners LLC boosted its holdings in Workday by 0.8% in the 4th quarter. Hudson Value Partners LLC now owns 5,135 shares of the software maker’s stock valued at $1,418,000 after purchasing an additional 40 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the transaction, the director now directly owns 97,500 shares of the company’s stock, valued at approximately $25,381,200. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction on Friday, June 14th. The stock was sold at an average price of $209.17, for a total value of $11,922,690.00. Following the sale, the insider now directly owns 786,000 shares in the company, valued at $164,407,620. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the sale, the director now directly owns 97,500 shares in the company, valued at approximately $25,381,200. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 532,172 shares of company stock valued at $118,034,332. Corporate insiders own 20.00% of the company’s stock.

Workday Trading Down 0.4 %

Shares of NASDAQ:WDAY traded down $1.15 during trading on Friday, reaching $261.21. 415,042 shares of the stock were exchanged, compared to its average volume of 2,214,838. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a market cap of $69.22 billion, a price-to-earnings ratio of 47.27, a price-to-earnings-growth ratio of 5.99 and a beta of 1.35. The firm’s 50-day moving average price is $226.87 and its 200 day moving average price is $247.16.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.46% and a net margin of 19.59%. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 EPS. On average, sell-side analysts anticipate that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have recently issued reports on WDAY. Mizuho cut their target price on Workday from $325.00 to $280.00 and set a “buy” rating for the company in a research note on Friday, May 24th. JMP Securities reissued a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Friday, May 24th. Guggenheim reissued a “sell” rating and issued a $190.00 target price on shares of Workday in a report on Tuesday, June 25th. Jefferies Financial Group reduced their target price on Workday from $350.00 to $330.00 and set a “buy” rating for the company in a report on Friday, May 24th. Finally, Piper Sandler lifted their price target on Workday from $262.00 to $285.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. Based on data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $288.15.

Workday Company Profile

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.