First Citizens Bank & Trust Co. Cuts Stake in Workday, Inc. (NASDAQ:WDAY)

First Citizens Bank & Trust Co. lessened its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 50.1% in the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,113 shares of the software maker’s stock after selling 1,116 shares during the period. First Citizens Bank & Trust Co.’s holdings in Workday were worth $260,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the stock. Simplicity Wealth LLC grew its position in shares of Workday by 3.0% during the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock valued at $330,000 after acquiring an additional 37 shares during the period. AllSquare Wealth Management LLC lifted its stake in Workday by 19.4% in the fourth quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker’s stock valued at $65,000 after purchasing an additional 41 shares during the last quarter. CreativeOne Wealth LLC grew its holdings in Workday by 1.5% during the fourth quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker’s stock valued at $745,000 after purchasing an additional 43 shares during the period. Salvus Wealth Management LLC increased its position in Workday by 2.8% in the first quarter. Salvus Wealth Management LLC now owns 1,658 shares of the software maker’s stock worth $387,000 after buying an additional 45 shares during the last quarter. Finally, Ashton Thomas Securities LLC increased its position in Workday by 3.2% in the fourth quarter. Ashton Thomas Securities LLC now owns 1,494 shares of the software maker’s stock worth $385,000 after buying an additional 46 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other Workday news, CAO Mark S. Garfield sold 497 shares of Workday stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the transaction, the chief accounting officer now directly owns 34,385 shares of the company’s stock, valued at approximately $7,789,921.75. This trade represents a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 71,672 shares of the company’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,602,994.26. This trade represents a 41.03% decrease in their position. The disclosure for this sale can be found here. Insiders have sold 252,338 shares of company stock worth $59,928,801 over the last 90 days. Corporate insiders own 19.31% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent research reports. BMO Capital Markets lifted their price objective on Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a report on Thursday, February 27th. Daiwa America upgraded shares of Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. Canaccord Genuity Group upped their price target on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Finally, Redburn Atlantic began coverage on shares of Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Nine analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $293.54.

Workday Trading Down 0.5%

Shares of WDAY opened at $251.36 on Thursday. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a market capitalization of $67.11 billion, a P/E ratio of 41.68, a P/E/G ratio of 3.55 and a beta of 1.24. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm’s 50 day simple moving average is $244.11 and its 200 day simple moving average is $252.77.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the prior year, the firm earned $1.74 EPS. The business’s revenue for the quarter was up 12.6% compared to the same quarter last year. Sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share 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.