Orion Portfolio Solutions LLC Cuts Stake in Workday, Inc. (NASDAQ:WDAY)

Orion Portfolio Solutions LLC trimmed its stake in Workday, Inc. (NASDAQ:WDAY) by 12.1% in the fourth quarter, Holdings Channel.com reports. The firm owned 52,684 shares of the software maker’s stock after selling 7,258 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Workday were worth $13,594,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Nomura Asset Management Co. Ltd. boosted its holdings in shares of Workday by 4.3% in the 4th quarter. Nomura Asset Management Co. Ltd. now owns 81,489 shares of the software maker’s stock valued at $21,027,000 after purchasing an additional 3,333 shares during the last quarter. Norges Bank purchased a new position in shares of Workday in the 4th quarter worth $645,710,000. NEOS Investment Management LLC boosted its holdings in Workday by 105.8% in the fourth quarter. NEOS Investment Management LLC now owns 25,133 shares of the software maker’s stock valued at $6,485,000 after acquiring an additional 12,923 shares during the last quarter. UniSuper Management Pty Ltd grew its position in Workday by 68.0% during the fourth quarter. UniSuper Management Pty Ltd now owns 92,542 shares of the software maker’s stock valued at $23,879,000 after acquiring an additional 37,442 shares during the period. Finally, Sava Infond d.o.o. acquired a new stake in Workday during the fourth quarter worth about $4,438,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 71,672 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $248.58, for a total value of $17,816,225.76. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $25,602,994.26. This trade represents a 41.03 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 487,145 shares of company stock worth $123,289,438. 20.00% of the stock is currently owned by company insiders.

Workday Stock Down 2.5 %

WDAY stock opened at $238.49 on Friday. The firm has a market cap of $63.44 billion, a price-to-earnings ratio of 39.55, a PEG ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The firm has a fifty day moving average price of $256.67 and a two-hundred day moving average price of $254.83. 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 (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Research analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Mizuho lifted 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. Wells Fargo & Company boosted their price objective on shares of Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. KeyCorp increased their price target on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Citigroup dropped their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Thursday, February 6th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $300.36.

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.