Americana Partners LLC Reduces Position in Workday, Inc. (NASDAQ:WDAY)

Americana Partners LLC lessened its position in shares of Workday, Inc. (NASDAQ:WDAY) by 12.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 3,468 shares of the software maker’s stock after selling 479 shares during the quarter. Americana Partners LLC’s holdings in Workday were worth $895,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust purchased a new position in Workday during the 4th quarter worth approximately $26,000. Roxbury Financial LLC purchased a new position in Workday during the 4th quarter worth approximately $25,000. Avion Wealth grew its stake in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares during the last quarter. Capital Performance Advisors LLP purchased a new position in Workday during the 3rd quarter worth approximately $26,000. Finally, Meeder Asset Management Inc. grew its stake in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

WDAY opened at $258.05 on Tuesday. The company has a market capitalization of $68.64 billion, a price-to-earnings ratio of 42.79, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The business has a 50 day moving average price of $262.13 and a two-hundred day moving average price of $251.80.

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

Analysts Set New Price Targets

A number of analysts have weighed in on WDAY shares. Scotiabank started coverage on Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price objective for the company. Needham & Company LLC reissued a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Thursday, February 6th. Bank of America reduced their price target on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Royal Bank of Canada raised their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Finally, Citigroup reduced their price target on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Eight investment analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $292.43.

Insider Activity

In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares in the company, valued at $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 438,819 shares of company stock worth $113,142,592. Insiders own 20.00% of the company’s stock.

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.