Whittier Trust Co. Trims Stake in Workday, Inc. (NASDAQ:WDAY)

Whittier Trust Co. lessened its position in Workday, Inc. (NASDAQ:WDAY) by 15.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 1,679 shares of the software maker’s stock after selling 301 shares during the quarter. Whittier Trust Co.’s holdings in Workday were worth $433,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in the company. Roxbury Financial LLC bought a new stake in shares of Workday during the 4th quarter valued at $25,000. Crews Bank & Trust bought a new stake in Workday during the fourth quarter worth about $26,000. Avion Wealth grew its holdings in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the period. TCTC Holdings LLC bought a new position in shares of Workday during the fourth quarter valued at approximately $35,000. Finally, True Wealth Design LLC lifted 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 valued at $36,000 after purchasing an additional 143 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts recently weighed in on the company. UBS Group upped their price target on Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 26th. Oppenheimer increased their target price on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Daiwa America raised Workday to a “strong-buy” rating in a research report on Tuesday, March 4th. Mizuho increased their price objective 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, Canaccord Genuity Group lifted their target price on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. According to MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

Workday Stock Performance

WDAY opened at $249.49 on Friday. The company has a 50 day simple moving average of $256.76 and a two-hundred day simple moving average of $255.11. 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 has a market cap of $66.36 billion, a P/E ratio of 41.37, a PEG ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction on Monday, January 6th. The shares were 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 owns 13,972 shares in the company, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 71,672 shares of the firm’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 transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,602,994.26. The trade was a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 473,001 shares of company stock worth $120,614,400. 20.00% of the stock is owned by corporate insiders.

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.