BIP Wealth LLC Has $442,000 Stock Position in Workday, Inc. (NASDAQ:WDAY)

BIP Wealth LLC reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 12.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 1,600 shares of the software maker’s stock after selling 218 shares during the period. BIP Wealth LLC’s holdings in Workday were worth $442,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the business. ORG Partners LLC grew its holdings in shares of Workday by 1.2% during the fourth quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock valued at $788,000 after buying an additional 34 shares during the last quarter. Washington Trust Advisors Inc. grew its holdings in shares of Workday by 8.1% during the fourth quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock valued at $133,000 after buying an additional 36 shares during the last quarter. Meitav Investment House Ltd. grew its holdings in shares of Workday by 2.6% during the fourth quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock valued at $387,000 after buying an additional 36 shares during the last quarter. Cigna Investments Inc. New grew its holdings in shares of Workday by 1.7% during the fourth quarter. Cigna Investments Inc. New now owns 2,167 shares of the software maker’s stock valued at $598,000 after buying an additional 37 shares during the last quarter. Finally, Waldron Private Wealth LLC grew its holdings in shares of Workday by 0.9% during the fourth quarter. Waldron Private Wealth LLC now owns 4,691 shares of the software maker’s stock valued at $1,294,000 after buying an additional 40 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. BMO Capital Markets lifted their price objective on shares of Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. Morgan Stanley cut their price target on shares of Workday from $335.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. Evercore ISI boosted their price target on shares of Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. UBS Group cut their price target on shares of Workday from $315.00 to $300.00 and set a “neutral” rating on the stock in a report on Tuesday, February 27th. Finally, Mizuho boosted their price target on shares of Workday from $290.00 to $325.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $293.61.

Workday Price Performance

NASDAQ:WDAY traded up $0.81 during mid-day trading on Thursday, hitting $256.55. 708,055 shares of the stock traded hands, compared to its average volume of 1,741,207. The business’s 50-day moving average price is $275.55 and its 200 day moving average price is $263.60. The company has a market cap of $67.73 billion, a PE ratio of 49.66, a price-to-earnings-growth ratio of 6.42 and a beta of 1.32. Workday, Inc. has a 12-month low of $174.25 and a 12-month high of $311.28. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the company earned ($0.14) earnings per share. Workday’s revenue for the quarter was up 16.8% on a year-over-year basis. On average, analysts expect that Workday, Inc. will post 1.76 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.