Crossvault Capital Management LLC Trims Stake in Workday, Inc. (NASDAQ:WDAY)


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Crossvault Capital Management LLC lowered its position in shares of Workday, Inc. (NASDAQ:WDAY) by 4.0% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 8,411 shares of the software maker’s stock after selling 354 shares during the period. Crossvault Capital Management LLC’s holdings in Workday were worth $2,090,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Nisa Investment Advisors LLC lifted its stake in Workday by 3.1% during the fourth quarter. Nisa Investment Advisors LLC now owns 6,650 shares of the software maker’s stock worth $1,593,000 after purchasing an additional 200 shares during the last quarter. Brookfield Asset Management Inc. lifted its stake in shares of Workday by 5.0% in the 4th quarter. Brookfield Asset Management Inc. now owns 21,000 shares of the software maker’s stock valued at $5,032,000 after acquiring an additional 1,000 shares during the last quarter. Royal London Asset Management Ltd. lifted its stake in shares of Workday by 5.2% in the 1st quarter. Royal London Asset Management Ltd. now owns 65,748 shares of the software maker’s stock valued at $16,334,000 after acquiring an additional 3,225 shares during the last quarter. Comerica Bank lifted its stake in shares of Workday by 15.4% in the 4th quarter. Comerica Bank now owns 8,784 shares of the software maker’s stock valued at $2,069,000 after acquiring an additional 1,174 shares during the last quarter. Finally, Schroder Investment Management Group lifted its stake in shares of Workday by 23.6% in the 4th quarter. Schroder Investment Management Group now owns 19,943 shares of the software maker’s stock valued at $4,778,000 after acquiring an additional 3,811 shares during the last quarter. 67.98% of the stock is owned by hedge funds and other institutional investors.

In related news, EVP Richard Harry Sauer sold 5,778 shares of the firm’s stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $257.83, for a total value of $1,489,741.74. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Gomez Luciano Fernandez sold 12,240 shares of the firm’s stock in a transaction on Thursday, April 15th. The stock was sold at an average price of $257.83, for a total value of $3,155,839.20. The disclosure for this sale can be found here. Insiders have sold a total of 444,255 shares of company stock worth $113,608,400 over the last three months. Insiders own 26.51% of the company’s stock.

A number of equities research analysts have recently weighed in on WDAY shares. OTR Global raised Workday to a “positive” rating in a research note on Thursday, February 18th. Credit Suisse Group assumed coverage on Workday in a research note on Tuesday, March 16th. They issued a “neutral” rating and a $235.00 target price for the company. Loop Capital raised Workday from a “sell” rating to a “buy” rating and set a $320.00 price target for the company in a research report on Monday, February 8th. Barclays upped their price target on Workday from $255.00 to $278.00 and gave the company an “equal weight” rating in a research report on Thursday, February 25th. Finally, Evercore ISI upped their price target on Workday from $290.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, February 19th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twenty have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and a consensus price target of $265.04.

WDAY stock traded down $7.26 during midday trading on Tuesday, hitting $236.49. The company’s stock had a trading volume of 23,732 shares, compared to its average volume of 1,820,635. The company has a market cap of $57.47 billion, a PE ratio of -127.23 and a beta of 1.59. Workday, Inc. has a 12 month low of $144.81 and a 12 month high of $282.77. The company has a current ratio of 1.45, a quick ratio of 1.45 and a debt-to-equity ratio of 0.62. The firm’s 50-day moving average is $253.91 and its 200-day moving average is $239.80.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, February 25th. The software maker reported $0.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.55 by $0.18. The business had revenue of $1.13 billion for the quarter, compared to analysts’ expectations of $1.11 billion. Workday had a negative return on equity of 10.56% and a negative net margin of 10.77%. During the same period in the prior year, the firm posted $0.50 EPS. Analysts expect that Workday, Inc. will post -0.71 earnings per share for the current year.

Workday Profile

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human resources. The company offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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.

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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