Grassi Investment Management Lowers Holdings in Workday, Inc. (NASDAQ:WDAY)

Grassi Investment Management trimmed its holdings in Workday, Inc. (NASDAQ:WDAY) by 3.7% during the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 13,410 shares of the software maker’s stock after selling 515 shares during the period. Grassi Investment Management’s holdings in Workday were worth $3,460,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. Capital Performance Advisors LLP purchased a new stake in shares of Workday in the third quarter worth about $26,000. Meeder Asset Management Inc. lifted its position in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares in the last quarter. True Wealth Design LLC lifted its position in shares of Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after buying an additional 143 shares in the last quarter. New Millennium Group LLC lifted its position in shares of Workday by 177.4% in the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after buying an additional 94 shares in the last quarter. Finally, Goodman Advisory Group LLC purchased a new stake in shares of Workday in the second quarter worth about $35,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Down 1.4 %

NASDAQ:WDAY traded down $3.62 during midday trading on Monday, reaching $246.09. 1,234,323 shares of the stock traded hands, compared to its average volume of 1,868,542. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The business has a 50-day moving average of $262.56 and a two-hundred day moving average of $246.12. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a market capitalization of $65.46 billion, a PE ratio of 40.81, a price-to-earnings-growth ratio of 5.04 and a beta of 1.34.

Workday (NASDAQ:WDAY) last posted 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. 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 analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the company posted $0.47 earnings per share. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, equities analysts forecast that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 70,090 shares of the firm’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total value of $17,840,007.70. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. This trade represents a 40.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 382,347 shares of company stock valued at $99,225,903 over the last 90 days. Insiders own 20.00% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently commented on WDAY shares. Morgan Stanley boosted their target price on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday, November 27th. Bank of America reduced their price objective on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Needham & Company LLC reissued a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Monday, November 25th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and boosted their price objective for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Finally, Royal Bank of Canada boosted their price objective on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, December 18th. Seven equities research analysts have rated the stock with a hold rating and twenty-two have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $292.25.

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.