Arcus Capital Partners LLC Has $2.97 Million Stake in Workday, Inc. (NASDAQ:WDAY)

Arcus Capital Partners LLC cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 15.5% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 10,887 shares of the software maker's stock after selling 2,000 shares during the period. Workday comprises about 1.1% of Arcus Capital Partners LLC's investment portfolio, making the stock its 15th biggest holding. Arcus Capital Partners LLC's holdings in Workday were worth $2,969,000 at the end of the most recent quarter.

Other institutional investors also recently made changes to their positions in the company. Capital Performance Advisors LLP bought a new position in Workday during the third quarter worth $26,000. Crews Bank & Trust bought a new stake in Workday during the fourth quarter worth approximately $26,000. Avion Wealth boosted its stake in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after buying an additional 86 shares in the last quarter. Meeder Asset Management Inc. lifted its stake in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock valued at $35,000 after purchasing an additional 43 shares during the last quarter. Finally, New Millennium Group LLC boosted its stake in shares of 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 acquiring an additional 94 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 56,000 shares of the firm's stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the transaction, the insider now owns 60,000 shares in the company, valued at $14,785,200. This trade represents a 48.28 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on WDAY shares. Scotiabank began coverage on shares of Workday in a research report on Monday, November 18th. They set a "sector outperform" rating and a $340.00 price objective on the stock. The Goldman Sachs Group boosted their price target on Workday from $300.00 to $310.00 and gave the stock a "buy" rating in a research report on Thursday, February 6th. Bank of America lowered their price target on Workday from $310.00 to $285.00 and set a "buy" rating on the stock in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Finally, Barclays decreased their price target on shares of Workday from $314.00 to $305.00 and set an "overweight" rating on the stock in a research note on Wednesday, November 27th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $292.43.

Workday Trading Up 3.0 %

Shares of NASDAQ WDAY traded up $7.67 during mid-day trading on Tuesday, hitting $265.72. The company's stock had a trading volume of 2,352,505 shares, compared to its average volume of 2,068,002. The company's fifty day simple moving average is $261.69 and its 200-day simple moving average is $252.05. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The stock has a market cap of $70.68 billion, a price-to-earnings ratio of 44.07, a price-to-earnings-growth ratio of 3.78 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 - Get Free Report) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analysts' expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company's revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the business earned $0.47 earnings per share. On average, sell-side analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.