Workday, Inc. (NASDAQ:WDAY) Stock Position Lessened by Icon Wealth Advisors LLC

Icon Wealth Advisors LLC lowered its position in shares of Workday, Inc. (NASDAQ:WDAY) by 2.7% in the 3rd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,919 shares of the software maker’s stock after selling 326 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Workday were worth $2,913,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of WDAY. The Manufacturers Life Insurance Company lifted its stake in Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after acquiring an additional 1,016,394 shares in the last quarter. Van ECK Associates Corp lifted its stake in Workday by 17,345.2% in the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after acquiring an additional 925,366 shares in the last quarter. D1 Capital Partners L.P. lifted its stake in Workday by 152.1% in the 2nd quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock worth $115,804,000 after acquiring an additional 312,500 shares in the last quarter. Lindbrook Capital LLC lifted its stake in Workday by 17,001.6% in the 3rd quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock worth $703,000 after acquiring an additional 284,266 shares in the last quarter. Finally, DNB Asset Management AS lifted its stake in Workday by 291.6% in the 2nd quarter. DNB Asset Management AS now owns 291,799 shares of the software maker’s stock worth $65,235,000 after acquiring an additional 217,277 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Trading Down 6.2 %

Workday stock opened at $253.40 on Friday. The stock has a market cap of $67.15 billion, a P/E ratio of 42.02, a PEG ratio of 5.03 and a beta of 1.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The firm’s fifty day moving average price is $248.74 and its 200-day moving average price is $237.44. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.21% and a net margin of 19.86%. The firm’s revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.47 earnings per share. Equities research analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. This represents a 39.23 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the sale, the director now owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 359,954 shares of company stock valued at $88,742,132 over the last 90 days. 20.00% of the stock is owned by insiders.

Analyst Ratings Changes

A number of research firms have recently weighed in on WDAY. Evercore ISI cut their price target on Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research note on Tuesday, August 20th. Canaccord Genuity Group reissued a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Friday, September 13th. KeyCorp increased their price objective on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company increased their price objective on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, Bank of America lowered their price objective on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the stock. Based on data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average price target of $288.14.

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.