Workday, Inc. (NASDAQ:WDAY) Holdings Decreased by Whittier Trust Co.

Whittier Trust Co. reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 4.5% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,604 shares of the software maker’s stock after selling 75 shares during the quarter. Whittier Trust Co.’s holdings in Workday were worth $375,000 at the end of the most recent quarter.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Cornerstone Planning Group LLC lifted its holdings in shares of Workday by 76.1% during the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker’s stock valued at $28,000 after purchasing an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new position in Workday in the 1st quarter worth about $32,000. Financial Management Professionals Inc. increased its position in Workday by 54.0% in the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock worth $36,000 after purchasing an additional 54 shares during the last quarter. Pinnacle Bancorp Inc. acquired a new position in shares of Workday during the 1st quarter valued at about $40,000. Finally, BankPlus Trust Department acquired a new position in shares of Workday during the 1st quarter valued at about $40,000. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Performance

Workday stock opened at $230.89 on Friday. The company has a market cap of $61.65 billion, a PE ratio of 127.56, a price-to-earnings-growth ratio of 3.43 and a beta of 1.21. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The company’s 50-day moving average price is $246.35 and its 200-day moving average price is $247.41. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.01 by $0.22. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The firm’s quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the company earned $1.74 EPS. On average, equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity at Workday

In other Workday news, CAO Mark S. Garfield sold 451 shares of the company’s stock in a transaction that occurred on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the transaction, the chief accounting officer owned 42,977 shares in the company, valued at approximately $10,093,578.22. This represents a 1.04% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the completion of the sale, the director owned 67,500 shares in the company, valued at $16,767,675. The trade was a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 329,005 shares of company stock valued at $79,203,523 over the last three months. Company insiders own 19.31% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of several recent analyst reports. Morgan Stanley set a $255.00 target price on Workday and gave the company an “equal weight” rating in a research note on Friday, May 23rd. DA Davidson raised their price objective on Workday from $230.00 to $250.00 and gave the stock a “neutral” rating in a research report on Friday, May 23rd. Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, May 21st. Wells Fargo & Company dropped their target price on Workday from $360.00 to $325.00 and set an “overweight” rating for the company in a report on Tuesday, April 22nd. Finally, Oppenheimer cut their price objective on Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have assigned a buy rating and two have issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $296.88.

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.