Portside Wealth Group LLC Decreases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Portside Wealth Group LLC lowered its position in Workday, Inc. (NASDAQ:WDAY) by 1.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 16,320 shares of the software maker’s stock after selling 195 shares during the period. Portside Wealth Group LLC’s holdings in Workday were worth $3,989,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Capital Performance Advisors LLP acquired a new position in shares of Workday during the third quarter worth $26,000. Goodman Advisory Group LLC purchased a new stake in shares of Workday during the second quarter valued at $35,000. Meeder Asset Management Inc. increased its holdings in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares during the period. New Millennium Group LLC raised its position in Workday by 177.4% during the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after buying an additional 94 shares during the last quarter. Finally, True Wealth Design LLC raised its holdings in shares of Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Price Performance

WDAY stock opened at $249.64 on Friday. The business’s fifty day moving average price is $262.40 and its 200 day moving average price is $246.66. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a market capitalization of $66.40 billion, a PE ratio of 41.40, a P/E/G ratio of 4.51 and a beta of 1.34. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business’s quarterly revenue was up 15.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.47 earnings per share. On average, sell-side analysts anticipate that Workday, Inc. will post 2.64 EPS for the current year.

Insider Buying and Selling at Workday

In related news, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the sale, the insider now owns 60,000 shares in the company, valued at approximately $14,785,200. This trade represents a 48.28 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock valued at $113,142,592 in the last 90 days. Company insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the subject of a number of analyst reports. Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Wells Fargo & Company increased their target price on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a report on Monday, December 9th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and lifted their target price for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Mizuho increased their target price on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Finally, Royal Bank of Canada upped their price objective on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $292.25.

Workday Company 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.