Cypress Asset Management Inc. TX Sells 230 Shares of Workday, Inc. (NASDAQ:WDAY)

Cypress Asset Management Inc. TX cut its stake in Workday, Inc. (NASDAQ:WDAY) by 4.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,353 shares of the software maker’s stock after selling 230 shares during the quarter. Cypress Asset Management Inc. TX’s holdings in Workday were worth $1,508,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Crewe Advisors LLC bought a new stake in Workday during the 1st quarter worth approximately $27,000. Sound Income Strategies LLC increased its stake in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after purchasing an additional 49 shares in the last quarter. Friedenthal Financial bought a new stake in Workday during the 4th quarter worth approximately $43,000. VisionPoint Advisory Group LLC increased its stake in Workday by 27.6% during the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after purchasing an additional 34 shares in the last quarter. Finally, Pacific Center for Financial Services increased its stake in Workday by 57.0% during the 1st quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock worth $43,000 after purchasing an additional 57 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Transactions at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the transaction, the insider now directly owns 204,066 shares of the company’s stock, valued at $43,759,913.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction on Monday, July 8th. The shares were sold at an average price of $226.67, for a total value of $710,383.78. Following the transaction, the insider now owns 92,014 shares in the company, valued at approximately $20,856,813.38. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the transaction, the insider now owns 204,066 shares in the company, valued at approximately $43,759,913.04. The disclosure for this sale can be found here. Over the last quarter, insiders sold 524,672 shares of company stock worth $115,938,834. Company insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on WDAY. JPMorgan Chase & Co. reduced their price target on Workday from $300.00 to $285.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Loop Capital reduced their price target on Workday from $280.00 to $240.00 and set a “hold” rating for the company in a research report on Friday, May 24th. Barclays reduced their price target on Workday from $316.00 to $286.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Needham & Company LLC reissued a “buy” rating and issued a $350.00 price objective on shares of Workday in a report on Friday, May 24th. Finally, Wells Fargo & Company cut their price objective on Workday from $325.00 to $275.00 and set an “overweight” rating for the company in a report on Friday, June 21st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $281.44.

Workday Trading Down 3.5 %

NASDAQ WDAY traded down $7.72 on Friday, reaching $214.86. The stock had a trading volume of 2,456,516 shares, compared to its average volume of 1,822,007. Workday, Inc. has a 12-month low of $202.01 and a 12-month high of $311.28. The stock has a fifty day moving average price of $220.32 and a two-hundred day moving average price of $255.19. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $56.94 billion, a price-to-earnings ratio of 38.71, a P/E/G ratio of 5.61 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping analysts’ consensus estimates of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The firm had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same quarter in the previous year, the firm posted $0.16 earnings per share. The company’s revenue was up 18.1% compared to the same quarter last year. As a group, sell-side analysts forecast that Workday, Inc. will post 2.12 EPS for the current fiscal year.

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.