Workday, Inc. (NASDAQ:WDAY) Shares Sold by Oppenheimer & Co. Inc.

Oppenheimer & Co. Inc. trimmed its holdings in Workday, Inc. (NASDAQ:WDAY) by 24.1% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 3,623 shares of the software maker’s stock after selling 1,148 shares during the period. Oppenheimer & Co. Inc.’s holdings in Workday were worth $885,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Diversified Trust Co grew its position in Workday by 1.0% during the second quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock valued at $1,080,000 after acquiring an additional 47 shares during the period. Opal Wealth Advisors LLC grew its holdings in shares of Workday by 5.2% during 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 period. Mesirow Financial Investment Management Inc. grew its holdings in shares of Workday by 3.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock worth $324,000 after purchasing an additional 48 shares during the period. Aspen Investment Management Inc increased its position in Workday by 3.1% during the 2nd quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker’s stock worth $369,000 after purchasing an additional 50 shares in the last quarter. Finally, Concord Wealth Partners lifted its position in Workday by 3.0% during the third quarter. Concord Wealth Partners now owns 1,765 shares of the software maker’s stock valued at $431,000 after buying an additional 51 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $259.90 on Wednesday. The business has a 50 day simple moving average of $246.94 and a 200 day simple moving average of $236.57. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm has a market capitalization of $68.87 billion, a price-to-earnings ratio of 45.28, a price-to-earnings-growth ratio of 5.15 and a beta of 1.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.40 earnings per share. On average, equities research analysts anticipate that Workday, Inc. will post 2.4 EPS for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Monday, August 26th. The shares were sold at an average price of $260.32, for a total value of $1,952,400.00. Following the transaction, the director now directly owns 97,500 shares of the company’s stock, valued at approximately $25,381,200. The trade was a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 370,575 shares of company stock valued at $91,506,897. Company insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on the stock. Evercore ISI cut their target price on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research note on Tuesday, August 20th. Needham & Company LLC cut their price objective on Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Citigroup decreased their target price on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Canaccord Genuity Group reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a report on Friday, September 13th. Finally, Wells Fargo & Company increased their price objective on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company. According to MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and an average target price of $289.46.

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.