Orion Portfolio Solutions LLC Cuts Holdings in Workday, Inc. (NASDAQ:WDAY)

Orion Portfolio Solutions LLC trimmed its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 10.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 59,942 shares of the software maker's stock after selling 6,681 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Workday were worth $14,650,000 as of its most recent SEC filing.

A number of other large investors have also bought and sold shares of the stock. Janus Henderson Group PLC grew its holdings in Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock worth $1,218,415,000 after purchasing an additional 480,459 shares during the period. State Street Corp grew its holdings in Workday by 1.4% in the third quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock worth $1,183,611,000 after purchasing an additional 67,380 shares during the period. The Manufacturers Life Insurance Company grew its holdings in Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker's stock worth $566,094,000 after purchasing an additional 14,159 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker's stock worth $482,133,000 after purchasing an additional 75,747 shares during the period. Finally, Legal & General Group Plc grew its holdings in Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker's stock worth $384,518,000 after purchasing an additional 118,180 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Performance

Shares of NASDAQ WDAY traded up $3.72 during midday trading on Friday, hitting $266.42. The company's stock had a trading volume of 3,269,670 shares, compared to its average volume of 2,806,843. The stock has a fifty day moving average price of $250.42 and a 200 day moving average price of $237.39. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $70.60 billion, a price-to-earnings ratio of 44.18, a P/E/G ratio of 4.91 and a beta of 1.34.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. The company 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 6.21%. The company's quarterly revenue was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. On average, research analysts forecast that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Insider Buying and Selling

In other Workday news, insider Richard Harry Sauer sold 3,134 shares of the business's stock in a transaction that occurred on Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the transaction, the insider now owns 85,795 shares of the company's stock, valued at $20,228,745.10. The trade was a 3.52 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 70,003 shares of the business's stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $25,872,846.40. This represents a 40.46 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 361,463 shares of company stock valued at $88,422,088. Company insiders own 20.00% of the company's stock.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of research reports. Morgan Stanley raised their price target on shares of Workday from $315.00 to $330.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. StockNews.com cut shares of Workday from a "buy" rating to a "hold" rating in a report on Wednesday. Stifel Nicolaus lifted their price objective on shares of Workday from $250.00 to $270.00 and gave the company a "hold" rating in a report on Friday, August 23rd. Barclays reduced their price objective on shares of Workday from $314.00 to $305.00 and set an "overweight" rating for the company in a report on Wednesday, November 27th. Finally, Loop Capital reduced their price objective on shares of Workday from $270.00 to $242.00 and set a "hold" rating for the company in a report on Wednesday, November 27th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $288.14.

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.