Wealth Alliance Lowers Stake in Workday, Inc. (NASDAQ:WDAY)

Wealth Alliance reduced its position in shares of Workday, Inc. (NASDAQ:WDAY) by 4.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,090 shares of the software maker’s stock after selling 139 shares during the quarter. Wealth Alliance’s holdings in Workday were worth $691,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Carolinas Wealth Consulting LLC increased its holdings in shares of Workday by 9.7% during the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after buying an additional 34 shares during the last quarter. Congress Wealth Management LLC DE increased its holdings in shares of Workday by 2.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock worth $458,000 after buying an additional 39 shares during the last quarter. Raleigh Capital Management Inc. increased its holdings in shares of Workday by 4.7% during the 4th quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock worth $240,000 after buying an additional 39 shares during the last quarter. Hudson Value Partners LLC increased its holdings in shares of Workday by 0.8% during the 4th quarter. Hudson Value Partners LLC now owns 5,135 shares of the software maker’s stock worth $1,418,000 after buying an additional 40 shares during the last quarter. Finally, D.A. Davidson & CO. increased its holdings in shares of Workday by 3.5% during the 4th quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock worth $343,000 after buying an additional 42 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 78,279 shares of Workday stock in a transaction on Monday, July 1st. The shares were sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $23,059,998.33. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Friday, June 28th. The shares were sold at an average price of $223.80, for a total transaction of $12,532,800.00. Following the sale, the insider now directly owns 674,000 shares in the company, valued at approximately $150,841,200. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 78,279 shares of Workday stock in a transaction on Monday, July 1st. The stock was sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the sale, the insider now owns 102,997 shares in the company, valued at $23,059,998.33. The disclosure for this sale can be found here. In the last three months, insiders sold 466,402 shares of company stock valued at $107,992,034. Insiders own 20.00% of the company’s stock.

Workday Price Performance

Workday stock opened at $248.47 on Thursday. The stock has a market cap of $65.84 billion, a P/E ratio of 44.77, a price-to-earnings-growth ratio of 5.07 and a beta of 1.35. The company has a fifty day simple moving average of $236.71 and a 200-day simple moving average of $242.43. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last released its quarterly earnings data 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 business had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the company earned $0.40 EPS. Equities analysts expect that Workday, Inc. will post 2.39 EPS for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. The Goldman Sachs Group cut their price target on shares of Workday from $310.00 to $300.00 and set a “buy” rating for the company in a report on Friday, May 24th. Canaccord Genuity Group restated a “buy” rating and set a $300.00 price target on shares of Workday in a report on Friday, September 13th. KeyCorp lifted their target price on shares of Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Sanford C. Bernstein dropped their target price on shares of Workday from $321.00 to $301.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Finally, Needham & Company LLC dropped their target price on shares of Workday from $350.00 to $300.00 and set a “buy” rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Workday currently has an average rating of “Moderate Buy” and an average target price of $286.30.

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.