Grove Bank & Trust Decreases Stake in Workday, Inc. $WDAY

Grove Bank & Trust lowered its position in shares of Workday, Inc. (NASDAQ:WDAY) by 46.0% during the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 4,173 shares of the software maker’s stock after selling 3,561 shares during the quarter. Grove Bank & Trust’s holdings in Workday were worth $1,005,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of WDAY. Rakuten Securities Inc. purchased a new stake in shares of Workday during the second quarter valued at approximately $25,000. Berbice Capital Management LLC grew its stake in Workday by 136.4% in the 2nd quarter. Berbice Capital Management LLC now owns 130 shares of the software maker’s stock valued at $31,000 after purchasing an additional 75 shares during the period. Golden State Wealth Management LLC increased its position in shares of Workday by 2,216.7% during the 2nd quarter. Golden State Wealth Management LLC now owns 139 shares of the software maker’s stock valued at $33,000 after purchasing an additional 133 shares during the last quarter. Twin Peaks Wealth Advisors LLC bought a new stake in shares of Workday during the 2nd quarter worth $41,000. Finally, Physician Wealth Advisors Inc. bought a new stake in shares of Workday during the 2nd quarter worth $42,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $214.90 on Tuesday. The company has a debt-to-equity ratio of 0.34, a quick ratio of 1.83 and a current ratio of 1.83. Workday, Inc. has a fifty-two week low of $205.33 and a fifty-two week high of $283.68. The stock has a market cap of $56.52 billion, a PE ratio of 90.29, a price-to-earnings-growth ratio of 2.55 and a beta of 1.15. The stock has a fifty day moving average of $228.55 and a 200-day moving average of $232.48.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.17 by $0.15. The business had revenue of $2.43 billion for the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.89 EPS. Equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 82,025 shares of the firm’s stock in a transaction that occurred on Tuesday, December 2nd. The shares were sold at an average price of $212.19, for a total value of $17,404,884.75. Following the completion of the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $22,290,347.31. This trade represents a 43.85% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the company’s stock in a transaction that occurred on Tuesday, October 7th. The stock was sold at an average price of $232.62, for a total transaction of $1,395,720.00. Following the sale, the chief financial officer directly owned 168,468 shares in the company, valued at $39,189,026.16. This trade represents a 3.44% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 252,234 shares of company stock valued at $57,990,796. Company insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

WDAY has been the subject of a number of research analyst reports. Oppenheimer restated an “outperform” rating on shares of Workday in a report on Wednesday, November 26th. Zacks Research lowered shares of Workday from a “strong-buy” rating to a “hold” rating in a research note on Thursday, October 30th. Cowen reaffirmed a “buy” rating on shares of Workday in a report on Wednesday, November 26th. Macquarie reiterated a “buy” rating on shares of Workday in a research note on Wednesday, November 26th. Finally, Sanford C. Bernstein reduced their price objective on Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and twelve have given a Hold rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $282.13.

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.