SG Americas Securities LLC Sells 101,452 Shares of Workday, Inc. (NASDAQ:WDAY)

SG Americas Securities LLC reduced its stake in Workday, Inc. (NASDAQ:WDAYFree Report) by 91.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 9,739 shares of the software maker’s stock after selling 101,452 shares during the quarter. SG Americas Securities LLC’s holdings in Workday were worth $2,513,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the stock. Capital Performance Advisors LLP purchased a new stake in shares of Workday in the third quarter valued at approximately $26,000. Meeder Asset Management Inc. lifted its holdings in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares during the period. True Wealth Design LLC grew its position in shares of Workday by 4,766.7% during the 3rd 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 increased its stake in shares of Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after buying an additional 94 shares during the period. Finally, Vestor Capital LLC bought a new stake in shares of Workday in the third quarter valued at about $44,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WDAY has been the topic of several recent research reports. Morgan Stanley increased their target price on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a report on Wednesday, November 27th. Piper Sandler reissued a “neutral” rating and issued a $270.00 price objective (down previously from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Royal Bank of Canada boosted their price target on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research report on Wednesday, December 18th. Finally, Bank of America dropped their price objective on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $292.25.

View Our Latest Analysis on Workday

Insider Buying and Selling at Workday

In other news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction that occurred on Monday, January 6th. The shares were 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 $3,546,931.92. The trade was a 30.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 70,003 shares of the business’s stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. This represents a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 438,819 shares of company stock worth $113,142,592. Insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $258.28 on Monday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The business’s 50 day moving average price is $260.91 and its 200 day moving average price is $247.76. 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 firm has a market cap of $68.70 billion, a P/E ratio of 42.83, a P/E/G ratio of 4.58 and a beta of 1.34.

Workday (NASDAQ:WDAYGet Free Report) last released its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.47 earnings per share. On average, sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Workday Profile

(Free Report)

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.

See Also

Want to see what other hedge funds are holding WDAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workday, Inc. (NASDAQ:WDAYFree Report).

Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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