Farther Finance Advisors LLC Lowers Stake in Workday, Inc. (NASDAQ:WDAY)

Farther Finance Advisors LLC cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 49.2% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 3,401 shares of the software maker’s stock after selling 3,290 shares during the quarter. Farther Finance Advisors LLC’s holdings in Workday were worth $878,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Roxbury Financial LLC acquired a new stake in Workday during the 4th quarter worth approximately $25,000. Crews Bank & Trust acquired a new stake in Workday during the 4th quarter worth approximately $26,000. Avion Wealth lifted its holdings in Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after buying an additional 86 shares in the last quarter. Meeder Asset Management Inc. lifted its holdings in Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after buying an additional 43 shares in the last quarter. Finally, New Millennium Group LLC lifted its holdings in Workday by 177.4% during the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after buying an additional 94 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of research reports. Mizuho increased their target price on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and raised their price objective for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Royal Bank of Canada raised their price objective on shares of Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Canaccord Genuity Group raised their price objective on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Finally, Bank of America reduced their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a report on Wednesday, November 27th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $302.14.

Insider Activity

In related news, CAO Mark S. Garfield sold 472 shares of the business’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 57,000 shares of the business’s stock in a transaction dated Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the sale, the insider now directly owns 284,000 shares in the company, valued at approximately $78,188,040. This represents a 16.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 435,829 shares of company stock valued at $113,033,319 over the last quarter. Corporate insiders own 20.00% of the company’s stock.

Workday Trading Up 2.9 %

Shares of Workday stock opened at $244.17 on Friday. The company has a market capitalization of $64.95 billion, a P/E ratio of 40.49, a PEG ratio of 3.55 and a beta of 1.38. The company’s fifty day moving average is $256.91 and its two-hundred day moving average is $255.56. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00.

Workday (NASDAQ:WDAY) last issued its 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). The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Analysts forecast 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.