Cigna Investments Inc. New Decreases Holdings in Workday, Inc. (NASDAQ:WDAY)

Cigna Investments Inc. New decreased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 2.0% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 2,156 shares of the software maker’s stock after selling 45 shares during the period. Cigna Investments Inc. New’s holdings in Workday were worth $556,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently bought and sold shares of WDAY. CWM LLC lifted its position in Workday by 24.8% during the third quarter. CWM LLC now owns 7,800 shares of the software maker’s stock valued at $1,907,000 after acquiring an additional 1,549 shares during the last quarter. Wedmont Private Capital increased its stake in Workday by 5.4% during the 3rd quarter. Wedmont Private Capital now owns 1,171 shares of the software maker’s stock valued at $276,000 after purchasing an additional 60 shares in the last quarter. Valeo Financial Advisors LLC increased its stake in Workday by 43.2% during the 3rd quarter. Valeo Financial Advisors LLC now owns 1,757 shares of the software maker’s stock valued at $429,000 after purchasing an additional 530 shares in the last quarter. Carnegie Investment Counsel increased its stake in Workday by 0.8% during the 3rd quarter. Carnegie Investment Counsel now owns 30,156 shares of the software maker’s stock valued at $7,370,000 after purchasing an additional 230 shares in the last quarter. Finally, MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH acquired a new position in Workday during the 3rd quarter valued at approximately $87,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of WDAY stock opened at $269.88 on Tuesday. 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 moving average is $262.08 and its two-hundred day moving average is $250.59. 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 $71.79 billion, a PE ratio of 44.76, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion during 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 revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the business earned $0.47 earnings per share. Analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In related news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the sale, the chief accounting officer now owns 35,408 shares in the company, valued at $8,789,681.92. This represents a 1.32 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts have issued reports on the stock. Royal Bank of Canada upped their price target 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. Wells Fargo & Company increased their price objective on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Barclays cut their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Citigroup cut their price objective on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research note on Thursday, January 16th. Finally, Mizuho increased their price objective on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $292.43.

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.