Orion Portfolio Solutions LLC Lowers Stake in Workday, Inc. (NASDAQ:WDAY)

Orion Portfolio Solutions LLC trimmed its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 12.1% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 52,684 shares of the software maker's stock after selling 7,258 shares during the quarter. Orion Portfolio Solutions LLC's holdings in Workday were worth $13,594,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Roxbury Financial LLC purchased a new position in shares of Workday in the fourth quarter valued at about $25,000. Crews Bank & Trust purchased a new stake in Workday in the 4th quarter worth approximately $26,000. Avion Wealth grew its position in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after buying an additional 86 shares during the last quarter. TCTC Holdings LLC purchased a new position in shares of Workday during the fourth quarter valued at approximately $35,000. Finally, True Wealth Design LLC raised its holdings in shares of 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 acquiring an additional 143 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Performance

WDAY traded up $1.37 during mid-day trading on Wednesday, reaching $235.90. 698,957 shares of the company traded hands, compared to its average volume of 2,523,102. The company's fifty day moving average price is $256.02 and its 200-day moving average price is $254.58. The stock has a market capitalization of $62.75 billion, a P/E ratio of 39.12, a P/E/G ratio of 3.55 and a beta of 1.38. 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, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

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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 analysts' consensus estimates of $1.75 by ($1.27). The firm 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%. On average, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insider Transactions at Workday

In other Workday news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the business's stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now directly owns 6,845 shares of the company's stock, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 431,145 shares of company stock worth $108,631,438 in the last quarter. Company insiders own 20.00% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on WDAY shares. BNP Paribas raised shares of Workday to a "strong-buy" rating in a research report on Friday, February 14th. Royal Bank of Canada boosted their price target on shares of Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. JMP Securities restated a "market outperform" rating and issued a $315.00 price objective on shares of Workday in a report on Thursday, February 6th. Daiwa America upgraded Workday to a "strong-buy" rating in a report on Tuesday, March 4th. Finally, Citigroup lowered their target price on Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $300.18.

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.