Workday, Inc. (NASDAQ:WDAY) Shares Sold by Kingswood Wealth Advisors LLC

Kingswood Wealth Advisors LLC reduced its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 70.5% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 997 shares of the software maker's stock after selling 2,381 shares during the quarter. Kingswood Wealth Advisors LLC's holdings in Workday were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently modified their holdings of WDAY. Capital Performance Advisors LLP purchased a new stake in Workday in the third quarter worth approximately $26,000. Meeder Asset Management Inc. grew 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 acquiring an additional 43 shares in the last quarter. New Millennium Group LLC grew 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 valued at $36,000 after buying an additional 94 shares in the last quarter. True Wealth Design LLC raised its stake in Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker's stock valued at $36,000 after purchasing an additional 143 shares in the last quarter. Finally, Fortitude Family Office LLC grew its position in Workday by 713.6% in the third quarter. Fortitude Family Office LLC now owns 179 shares of the software maker's stock worth $44,000 after acquiring an additional 157 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Price Performance

Shares of WDAY traded up $16.44 during mid-day trading on Wednesday, hitting $276.17. 5,246,361 shares of the company traded hands, compared to its average volume of 2,089,282. The stock has a market capitalization of $73.46 billion, a price-to-earnings ratio of 45.80, a PEG ratio of 4.73 and a beta of 1.35. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The business has a 50-day moving average of $260.70 and a 200 day moving average of $249.53.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts' consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business's revenue was up 15.8% on a year-over-year basis. During the same quarter in the previous year, the firm posted $0.47 earnings per share. As a group, equities analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the business'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 sale, the insider now directly owns 60,000 shares of the company's stock, valued at $14,785,200. The trade was a 48.28 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the transaction, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 over the last quarter. 20.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Bank of America decreased their target price on Workday from $310.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Morgan Stanley lifted their price objective on shares of Workday from $315.00 to $330.00 and gave the stock an "overweight" rating in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft upgraded Workday from a "hold" rating to a "buy" rating and increased their price target for the company from $265.00 to $300.00 in a research note on Wednesday, January 8th. Guggenheim raised Workday from a "sell" rating to a "neutral" rating in a research report on Monday, January 6th. Finally, Needham & Company LLC restated a "buy" rating and set a $300.00 price objective on shares of Workday in a research note on Monday, November 25th. Eight investment analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company's stock. Based on data from MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and a consensus price target of $292.25.

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.