Montrusco Bolton Investments Inc. Sells 242,997 Shares of Workday, Inc. (NASDAQ:WDAY)

Montrusco Bolton Investments Inc. cut its position in Workday, Inc. (NASDAQ:WDAY) by 18.7% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,053,221 shares of the software maker’s stock after selling 242,997 shares during the quarter. Workday accounts for about 3.2% of Montrusco Bolton Investments Inc.’s holdings, making the stock its 13th biggest holding. Montrusco Bolton Investments Inc. owned about 0.40% of Workday worth $263,501,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in the company. Two Sigma Advisers LP raised its holdings in Workday by 1,094.2% in the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock valued at $150,019,000 after buying an additional 562,400 shares during the last quarter. KBC Group NV raised its stake in shares of Workday by 340.3% during the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock valued at $169,199,000 after acquiring an additional 506,812 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after purchasing an additional 480,459 shares during the period. Zurich Insurance Group Ltd FI acquired a new position in shares of Workday during the third quarter worth $78,003,000. Finally, Lindbrook Capital LLC grew its stake in shares of Workday by 17,001.6% in the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock worth $703,000 after purchasing an additional 284,266 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the transaction, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. This represents a 30.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the sale, the insider now directly owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock worth $113,142,592 in the last quarter. 20.00% of the stock is currently owned by corporate insiders.

Workday Price Performance

WDAY stock opened at $270.43 on Wednesday. The company has a market capitalization of $71.93 billion, a P/E ratio of 44.85, a price-to-earnings-growth ratio of 4.58 and a beta of 1.34. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The business has a 50-day simple moving average of $261.22 and a two-hundred day simple moving average of $248.48. 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 (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping 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%. Workday’s revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.47 earnings per share. Research analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

WDAY has been the topic of several recent research reports. Piper Sandler reaffirmed a “neutral” rating and set a $270.00 target price (down from $285.00) on shares of Workday in a report on Wednesday, November 27th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Monday, November 25th. Morgan Stanley raised their price target on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Mizuho upped their price objective on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Citigroup dropped their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $292.25.

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.