HighTower Advisors LLC Sells 878 Shares of Workday, Inc. (NASDAQ:WDAY)

HighTower Advisors LLC lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 2.8% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 30,514 shares of the software maker’s stock after selling 878 shares during the period. HighTower Advisors LLC’s holdings in Workday were worth $7,874,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently modified their holdings of the stock. Janus Henderson Group PLC grew its position in Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares during the last quarter. State Street Corp grew its position in Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after acquiring an additional 67,380 shares during the last quarter. Geode Capital Management LLC grew its position in Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after acquiring an additional 76,618 shares during the last quarter. The Manufacturers Life Insurance Company grew its position in Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after acquiring an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after acquiring an additional 75,747 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

WDAY has been the topic of a number of recent analyst reports. Morgan Stanley cut Workday from an “overweight” rating to an “equal weight” rating and decreased their target price for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. Oppenheimer boosted their price target on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, February 26th. Daiwa America upgraded Workday to a “strong-buy” rating in a report on Tuesday, March 4th. Mizuho boosted their price target on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Finally, JMP Securities restated a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday, February 6th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $300.36.

Insider Activity

In other news, major shareholder David A. Duffield sold 70,090 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $26,215,826.41. The trade was a 40.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction that occurred on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the sale, the director now owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 443,329 shares of company stock worth $114,843,294 over the last quarter. 20.00% of the stock is currently owned by corporate insiders.

Workday Price Performance

Shares of WDAY opened at $250.62 on Tuesday. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The business’s 50 day moving average price is $256.84 and its two-hundred day moving average price is $255.38. The firm has a market cap of $66.66 billion, a PE ratio of 41.56, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, 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.