Howard Bailey Securities LLC Reduces Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Howard Bailey Securities LLC cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 6.3% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,131 shares of the software maker’s stock after selling 76 shares during the period. Howard Bailey Securities LLC’s holdings in Workday were worth $292,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds also recently added to or reduced their stakes in WDAY. NBC Securities Inc. boosted its position in Workday by 5.0% in the 3rd quarter. NBC Securities Inc. now owns 8,014 shares of the software maker’s stock worth $1,958,000 after purchasing an additional 378 shares in the last quarter. Swedbank AB lifted its stake in shares of Workday by 2.1% in the 3rd quarter. Swedbank AB now owns 82,847 shares of the software maker’s stock valued at $20,249,000 after purchasing an additional 1,668 shares during the period. Opal Wealth Advisors LLC boosted its holdings in Workday by 5.2% during the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after buying an additional 47 shares in the last quarter. Stillwater Capital Advisors LLC purchased a new position in Workday in the third quarter valued at $243,000. Finally, Sumitomo Life Insurance Co. grew its position in shares of Workday by 1.8% during the 3rd quarter. Sumitomo Life Insurance Co. now owns 9,918 shares of the software maker’s stock valued at $2,424,000 after acquiring an additional 175 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Trading Down 1.9 %

NASDAQ:WDAY opened at $257.92 on Thursday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The stock has a market cap of $68.61 billion, a P/E ratio of 42.77, a P/E/G ratio of 3.78 and a beta of 1.35. The stock has a 50-day simple moving average of $262.57 and a 200-day simple moving average of $251.13.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the business earned $0.47 EPS. As a group, analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In related news, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the transaction, the insider now owns 121,100 shares of the company’s stock, valued at $30,369,458. This represents a 4.34 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the transaction, the director now owns 6,845 shares of the company’s stock, valued at $1,732,401.05. This represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 438,819 shares of company stock worth $113,142,592 over the last ninety days. 20.00% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several research reports. Wells Fargo & Company boosted their price objective on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Mizuho increased their price objective on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Piper Sandler reiterated a “neutral” rating and issued a $270.00 target price (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Finally, Needham & Company LLC restated a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Thursday, February 6th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average target price of $292.43.

Workday 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.