Curi RMB Capital LLC Cuts Stake in Workday, Inc. (NASDAQ:WDAY)

Curi RMB Capital LLC cut its holdings in Workday, Inc. (NASDAQ:WDAY) by 18.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 1,484 shares of the software maker’s stock after selling 328 shares during the quarter. Curi RMB Capital LLC’s holdings in Workday were worth $383,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its holdings in shares of Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares in the last quarter. Norges Bank bought a new position in Workday in the fourth quarter worth approximately $645,710,000. Parnassus Investments LLC raised its stake in Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after buying an additional 2,078,097 shares in the last quarter. Geode Capital Management LLC lifted its holdings in Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after buying an additional 1,772,223 shares during the period. Finally, Invesco Ltd. boosted its position in Workday by 102.6% during the 4th quarter. Invesco Ltd. now owns 1,855,778 shares of the software maker’s stock valued at $478,846,000 after acquiring an additional 939,955 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Down 3.1 %

WDAY stock opened at $214.10 on Tuesday. The stock has a market capitalization of $56.95 billion, a P/E ratio of 35.51, a P/E/G ratio of 3.55 and a beta of 1.32. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The firm has a 50-day simple moving average of $243.13 and a 200-day simple moving average of $252.17. 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 (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion for 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%. Equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 66,455 shares of the company’s stock in a transaction that occurred on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $26,729,781.44. This represents a 39.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total value of $1,607,868.00. Following the transaction, the insider now directly owns 111,324 shares in the company, valued at $29,556,522. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock valued at $77,976,126 in the last 90 days. 20.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Piper Sandler boosted their price target on Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. DA Davidson lowered their price target on shares of Workday from $270.00 to $230.00 and set a “neutral” rating on the stock in a report on Monday, April 14th. BMO Capital Markets boosted their price objective on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research note on Thursday, February 27th. Canaccord Genuity Group lifted their price target on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Finally, StockNews.com cut Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company’s stock. Based on data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and an average target price of $296.25.

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.