Workday, Inc. (NASDAQ:WDAY) Shares Sold by Corient Private Wealth LLC

Corient Private Wealth LLC trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 11.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 27,316 shares of the software maker's stock after selling 3,638 shares during the period. Corient Private Wealth LLC's holdings in Workday were worth $6,657,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the business. Envestnet Portfolio Solutions Inc. grew its stake in shares of Workday by 1.8% during the 4th quarter. Envestnet Portfolio Solutions Inc. now owns 17,750 shares of the software maker's stock worth $4,580,000 after purchasing an additional 306 shares during the period. Pollock Investment Advisors LLC purchased a new position in Workday during the fourth quarter valued at $502,000. Frank Rimerman Advisors LLC increased its stake in shares of Workday by 11.6% during the fourth quarter. Frank Rimerman Advisors LLC now owns 4,971 shares of the software maker's stock worth $1,283,000 after purchasing an additional 517 shares in the last quarter. Copperwynd Financial LLC lifted its position in shares of Workday by 9.0% in the fourth quarter. Copperwynd Financial LLC now owns 3,968 shares of the software maker's stock valued at $1,024,000 after acquiring an additional 326 shares in the last quarter. Finally, Greykasell Wealth Strategies Inc. acquired a new stake in Workday during the 4th quarter worth $1,047,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on the stock. Daiwa America raised shares of Workday to a "strong-buy" rating in a research note on Tuesday, March 4th. Morgan Stanley cut Workday from an "overweight" rating to an "equal weight" rating and dropped their target price for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Barclays reduced their price target on Workday from $314.00 to $305.00 and set an "overweight" rating on the stock in a report on Wednesday, November 27th. Canaccord Genuity Group lifted their target price on shares of Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Workday from $285.00 to $310.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $300.36.

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Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 472 shares of the business's stock in a transaction 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 completion of the transaction, the chief accounting officer now directly owns 35,408 shares of the company's stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 71,672 shares of Workday stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the sale, the insider now owns 102,997 shares of the company's stock, valued at approximately $25,602,994.26. This represents a 41.03 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 417,001 shares of company stock valued at $105,735,200. Insiders own 20.00% of the company's stock.

Workday Stock Performance

NASDAQ:WDAY traded up $2.92 during trading hours on Tuesday, reaching $252.83. 1,176,580 shares of the company's stock were exchanged, compared to its average volume of 2,426,144. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $67.25 billion, a price-to-earnings ratio of 41.93, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a 50-day moving average of $256.83 and a 200 day moving average of $255.05.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion for 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%. Research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current 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.