Corient Private Wealth LLC Reduces Stock Position in Workday, Inc. (NASDAQ:WDAY)

Corient Private Wealth LLC cut its stake in Workday, Inc. (NASDAQ:WDAY) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 27,316 shares of the software maker’s stock after selling 3,638 shares during the quarter. Corient Private Wealth LLC’s holdings in Workday were worth $6,657,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently made changes to their positions in WDAY. Principal Financial Group Inc. increased its position in shares of Workday by 45.0% during the third quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker’s stock valued at $4,349,000 after buying an additional 5,519 shares during the period. Empowered Funds LLC grew its stake in Workday by 38.7% during the third quarter. Empowered Funds LLC now owns 7,349 shares of the software maker’s stock valued at $1,796,000 after acquiring an additional 2,049 shares in the last quarter. Quest Partners LLC increased its holdings in Workday by 98.2% during the 3rd quarter. Quest Partners LLC now owns 2,472 shares of the software maker’s stock worth $604,000 after acquiring an additional 1,225 shares during the period. Pathstone Holdings LLC lifted its stake in Workday by 8.1% in the 3rd quarter. Pathstone Holdings LLC now owns 24,733 shares of the software maker’s stock worth $6,045,000 after purchasing an additional 1,848 shares in the last quarter. Finally, Caprock Group LLC boosted its holdings in Workday by 14.5% in the 3rd quarter. Caprock Group LLC now owns 3,046 shares of the software maker’s stock valued at $744,000 after purchasing an additional 386 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $265.70, for a total transaction of $14,879,200.00. Following the transaction, the insider now owns 228,000 shares in the company, valued at $60,579,600. The trade was a 19.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 473,001 shares of company stock valued at $120,614,400 over the last quarter. 20.00% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

WDAY has been the topic of several research analyst reports. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Thursday, February 6th. Oppenheimer raised their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. BMO Capital Markets boosted 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. Mizuho upped their price objective on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Finally, Needham & Company LLC reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $250.47 on Friday. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $66.63 billion, a price-to-earnings ratio of 41.54, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a 50-day moving average price of $256.76 and a 200-day moving average price of $255.24.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

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.