Farther Finance Advisors LLC Decreases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Farther Finance Advisors LLC lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 49.2% during the fourth quarter, Holdings Channel reports. The institutional investor owned 3,401 shares of the software maker’s stock after selling 3,290 shares during the period. Farther Finance Advisors LLC’s holdings in Workday were worth $878,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Roxbury Financial LLC acquired a new position in Workday during the fourth quarter worth about $25,000. Crews Bank & Trust acquired a new position in Workday during the fourth quarter worth about $26,000. Avion Wealth raised its position in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the last quarter. Meeder Asset Management Inc. raised its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares during the last quarter. Finally, New Millennium Group LLC raised its position in Workday by 177.4% during the third quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after acquiring an additional 94 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WDAY. Morgan Stanley cut shares of Workday from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $330.00 to $275.00 in a research report on Wednesday, February 19th. Piper Sandler lifted their target price on shares of Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Loop Capital boosted their price objective on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. Redburn Atlantic began coverage on shares of Workday in a research report on Wednesday, February 19th. They issued a “neutral” rating for the company. Finally, BNP Paribas raised shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. 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 data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $302.14.

Workday Price Performance

WDAY opened at $244.17 on Friday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a 50 day moving average of $256.91 and a two-hundred day moving average of $255.56. The company has a market cap of $64.95 billion, a P/E ratio of 40.49, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last released its quarterly earnings data 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). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. On average, analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity

In other news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the transaction, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. This trade represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is currently owned by company insiders.

Workday 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.