Bryn Mawr Capital Management LLC Trims Stake in Workday, Inc. (NASDAQ:WDAY)

Bryn Mawr Capital Management LLC lessened its position in Workday, Inc. (NASDAQ:WDAY) by 2.2% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 3,294 shares of the software maker’s stock after selling 75 shares during the quarter. Bryn Mawr Capital Management LLC’s holdings in Workday were worth $850,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. lifted its position in Workday by 28.4% during the third quarter. Hennion & Walsh Asset Management Inc. now owns 1,479 shares of the software maker’s stock valued at $361,000 after buying an additional 327 shares during the period. Wealth Enhancement Advisory Services LLC lifted its position in Workday by 1,265.6% during the 3rd quarter. Wealth Enhancement Advisory Services LLC now owns 44,081 shares of the software maker’s stock valued at $10,774,000 after acquiring an additional 40,853 shares during the period. Pallas Capital Advisors LLC boosted its stake in Workday by 20.8% during the third quarter. Pallas Capital Advisors LLC now owns 4,560 shares of the software maker’s stock worth $1,080,000 after acquiring an additional 786 shares in the last quarter. abrdn plc grew its holdings in Workday by 16.3% in the third quarter. abrdn plc now owns 279,856 shares of the software maker’s stock worth $68,400,000 after purchasing an additional 39,289 shares during the period. Finally, Fortitude Family Office LLC grew its holdings in Workday by 713.6% in the third quarter. Fortitude Family Office LLC now owns 179 shares of the software maker’s stock worth $44,000 after purchasing an additional 157 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Insider Activity

In related news, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares in the company, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the sale, the insider now owns 121,100 shares of the company’s stock, valued at $30,369,458. The trade was a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have recently issued reports on WDAY. Barclays lowered their price target on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Loop Capital boosted their price objective on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. The Goldman Sachs Group increased their target price on Workday from $310.00 to $345.00 and gave the company a “buy” rating in a research note on Wednesday. Morgan Stanley downgraded Workday from an “overweight” rating to an “equal weight” rating and lowered their price target for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Finally, Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and boosted their target price for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $301.11.

Workday Stock Up 6.2 %

Shares of NASDAQ WDAY opened at $271.09 on Thursday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $298.50. The firm has a 50-day simple moving average of $260.01 and a two-hundred day simple moving average of $254.24. The company has a market cap of $72.11 billion, a P/E ratio of 44.96, a PEG ratio of 3.55 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

Workday (NASDAQ:WDAY) last issued its quarterly 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). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Research analysts anticipate that Workday, Inc. will post 2.63 earnings per share 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.