RWA Wealth Partners LLC Cuts Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

RWA Wealth Partners LLC reduced its position in shares of Workday, Inc. (NASDAQ:WDAY) by 4.4% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,141 shares of the software maker’s stock after selling 881 shares during the period. RWA Wealth Partners LLC’s holdings in Workday were worth $5,284,000 at the end of the most recent quarter.

Several other large investors also recently bought and sold shares of WDAY. Vanguard Group Inc. boosted its holdings in shares of Workday by 1.9% during the 3rd quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker’s stock worth $3,010,244,000 after purchasing an additional 263,994 shares during the last quarter. Wellington Management Group LLP lifted its holdings in Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after acquiring an additional 1,406,153 shares during the last quarter. Polen Capital Management LLC lifted its holdings in Workday by 2.0% in the third quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock valued at $848,726,000 after acquiring an additional 78,352 shares during the last quarter. Morgan Stanley lifted its holdings in Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after acquiring an additional 872,288 shares during the last quarter. Finally, The Manufacturers Life Insurance Company lifted its holdings in Workday by 8.5% in the third quarter. The Manufacturers Life Insurance Company now owns 2,629,780 shares of the software maker’s stock valued at $564,976,000 after acquiring an additional 206,112 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on WDAY. Barclays decreased their price objective on Workday from $326.00 to $316.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Tuesday, February 27th. Needham & Company LLC upped their price objective on Workday from $300.00 to $350.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Wells Fargo & Company upped their price target on Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Finally, DA Davidson restated a “neutral” rating and set a $300.00 price target on shares of Workday in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $293.61.

Insider Activity at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the transaction, the insider now owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the transaction, the insider now owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the transaction, the insider now directly owns 843,000 shares in the company, valued at approximately $223,302,270. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock valued at $117,731,569 over the last quarter. 21.09% of the stock is owned by insiders.

Workday Stock Performance

NASDAQ:WDAY opened at $255.00 on Tuesday. The firm has a market capitalization of $67.32 billion, a PE ratio of 49.23, a price-to-earnings-growth ratio of 6.30 and a beta of 1.32. The business’s fifty day moving average price is $277.28 and its 200 day moving average price is $263.35. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. Workday, Inc. has a 12 month low of $174.25 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. Workday’s revenue for the quarter was up 16.8% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.14) earnings per share. On average, sell-side analysts anticipate that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Workday 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.