Concord Wealth Partners Cuts Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Concord Wealth Partners cut its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 3.2% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 1,708 shares of the software maker’s stock after selling 57 shares during the period. Concord Wealth Partners’ holdings in Workday were worth $441,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in WDAY. Marcum Wealth LLC grew its position in shares of Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock valued at $249,000 after buying an additional 41 shares during the last quarter. Custom Index Systems LLC boosted its stake in Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after acquiring an additional 41 shares during the period. Meeder Asset Management Inc. grew its holdings in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the last quarter. Kingsview Wealth Management LLC raised its position in shares of Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 43 shares during the period. Finally, Opal Wealth Advisors LLC lifted its holdings in shares of Workday by 5.2% in the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after purchasing an additional 47 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WDAY has been the topic of several analyst reports. Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Royal Bank of Canada increased their price objective on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Oppenheimer reissued an “outperform” rating and set a $300.00 target price on shares of Workday in a research note on Tuesday, December 3rd. Scotiabank started coverage on shares of Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target on the stock. Finally, Morgan Stanley boosted their price objective on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $292.25.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 70,003 shares of the company’s stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. The trade was a 40.46 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 438,819 shares of company stock worth $113,142,592. Corporate insiders own 20.00% of the company’s stock.

Workday Trading Up 0.8 %

Shares of NASDAQ WDAY opened at $262.06 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a market cap of $69.71 billion, a price-to-earnings ratio of 43.46, a P/E/G ratio of 4.79 and a beta of 1.34. The business has a fifty day simple moving average of $261.07 and a 200-day simple moving average of $248.88.

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

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.