KRS Capital Management LLC Lowers Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

KRS Capital Management LLC lessened its position in shares of Workday, Inc. (NASDAQ:WDAY) by 5.7% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,000 shares of the software maker’s stock after selling 60 shares during the period. KRS Capital Management LLC’s holdings in Workday were worth $258,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in WDAY. Massachusetts Financial Services Co. MA lifted its stake in shares of Workday by 0.6% during the second quarter. Massachusetts Financial Services Co. MA now owns 25,532 shares of the software maker’s stock worth $5,708,000 after purchasing an additional 141 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in shares of Workday by 10.9% in the second quarter. Dimensional Fund Advisors LP now owns 226,117 shares of the software maker’s stock worth $50,552,000 after acquiring an additional 22,290 shares in the last quarter. Mercer Global Advisors Inc. ADV lifted its stake in shares of Workday by 10.2% in the second quarter. Mercer Global Advisors Inc. ADV now owns 4,424 shares of the software maker’s stock worth $965,000 after acquiring an additional 408 shares in the last quarter. Meiji Yasuda Asset Management Co Ltd. raised its stake in Workday by 17.8% during the second quarter. Meiji Yasuda Asset Management Co Ltd. now owns 3,507 shares of the software maker’s stock valued at $784,000 after buying an additional 529 shares in the last quarter. Finally, Amalgamated Bank raised its stake in Workday by 3.3% during the second quarter. Amalgamated Bank now owns 14,306 shares of the software maker’s stock valued at $3,198,000 after buying an additional 455 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have issued reports on WDAY. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and upped their price objective for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Morgan Stanley upped their price objective on Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research note on Wednesday, November 27th. Citigroup cut their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday. Royal Bank of Canada upped their price objective on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Finally, Loop Capital cut their price objective on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Eight equities research 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, the company has an average rating of “Moderate Buy” and a consensus target price of $292.25.

Insider Activity

In other news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the 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 owns 60,000 shares of the company’s stock, valued at $14,785,200. This trade represents a 48.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 438,819 shares of company stock worth $113,142,592. Insiders own 20.00% of the company’s stock.

Workday Price Performance

NASDAQ WDAY traded down $1.06 on Friday, reaching $249.64. 1,578,008 shares of the stock traded hands, compared to its average volume of 4,368,178. The firm’s fifty day simple moving average is $262.54 and its 200 day simple moving average is $246.48. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $66.40 billion, a price-to-earnings ratio of 41.40, a P/E/G ratio of 4.51 and a beta of 1.34. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the company posted $0.47 EPS. As a group, research analysts predict that Workday, Inc. will post 2.64 EPS for the current fiscal 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.