Balentine LLC Cuts Position in Workday, Inc. (NASDAQ:WDAY)

Balentine LLC reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 82.6% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 1,058 shares of the software maker’s stock after selling 5,016 shares during the period. Balentine LLC’s holdings in Workday were worth $237,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. Carolinas Wealth Consulting LLC increased its stake in shares of Workday by 9.7% in the 4th quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock worth $106,000 after acquiring an additional 34 shares in the last quarter. Congress Wealth Management LLC DE grew its holdings in Workday by 2.4% in the fourth quarter. Congress Wealth Management LLC DE now owns 1,658 shares of the software maker’s stock worth $458,000 after purchasing an additional 39 shares during the period. Raleigh Capital Management Inc. increased its stake in shares of Workday by 4.7% during the fourth quarter. Raleigh Capital Management Inc. now owns 869 shares of the software maker’s stock valued at $240,000 after purchasing an additional 39 shares in the last quarter. Hudson Value Partners LLC lifted its holdings in shares of Workday by 0.8% during the fourth quarter. Hudson Value Partners LLC now owns 5,135 shares of the software maker’s stock valued at $1,418,000 after purchasing an additional 40 shares during the last quarter. Finally, D.A. Davidson & CO. boosted its position in shares of Workday by 3.5% in the 4th quarter. D.A. Davidson & CO. now owns 1,241 shares of the software maker’s stock worth $343,000 after purchasing an additional 42 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Needham & Company LLC reaffirmed a “buy” rating and set a $350.00 price objective on shares of Workday in a research report on Friday, August 23rd. UBS Group reduced their price target on Workday from $280.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Loop Capital upped their price target on shares of Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Sanford C. Bernstein cut their price objective on shares of Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Finally, The Goldman Sachs Group dropped their target price on shares of Workday from $310.00 to $300.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $288.15.

Workday Stock Down 0.4 %

Shares of WDAY stock opened at $253.52 on Tuesday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The stock has a market cap of $67.18 billion, a P/E ratio of 45.68, a P/E/G ratio of 5.47 and a beta of 1.35. The company has a 50 day simple moving average of $233.14 and a two-hundred day simple moving average of $244.36.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the previous year, the firm posted $0.40 EPS. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, research analysts expect that Workday, Inc. will post 2.27 earnings per share for the current year.

Insider Buying and Selling at Workday

In other news, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction dated Monday, July 8th. The stock was sold at an average price of $226.67, for a total value of $710,383.78. Following the transaction, the insider now owns 92,014 shares of the company’s stock, valued at $20,856,813.38. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction on Monday, July 8th. The shares were sold at an average price of $226.67, for a total value of $710,383.78. Following the completion of the sale, the insider now directly owns 92,014 shares of the company’s stock, valued at $20,856,813.38. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the sale, the insider now owns 786,000 shares in the company, valued at $164,407,620. The disclosure for this sale can be found here. Over the last quarter, insiders sold 523,402 shares of company stock valued at $119,914,724. Company insiders own 20.00% of the company’s stock.

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.