Golden State Equity Partners Sells 460 Shares of Workday, Inc. (NASDAQ:WDAY)

Golden State Equity Partners reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 30.3% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,057 shares of the software maker’s stock after selling 460 shares during the period. Golden State Equity Partners’ holdings in Workday were worth $292,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in the stock. Beacon Capital Management LLC lifted its position in shares of Workday by 333.3% in the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares during the period. Exchange Traded Concepts LLC lifted its position in Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after acquiring an additional 105 shares during the last quarter. CVA Family Office LLC purchased a new stake in Workday during the fourth quarter valued at approximately $33,000. VisionPoint Advisory Group LLC lifted its position in Workday by 215.4% during the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares during the last quarter. Finally, Clear Street Markets LLC purchased a new stake in Workday during the third quarter valued at approximately $29,000. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Down 1.2 %

WDAY stock opened at $251.04 on Friday. The firm has a market cap of $66.27 billion, a PE ratio of 48.75, a P/E/G ratio of 6.27 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The firm’s fifty day moving average is $273.49 and its 200 day moving average is $264.07. Workday, Inc. has a one year low of $174.25 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same quarter last year, the business earned ($0.14) earnings per share. The firm’s revenue was up 16.8% on a year-over-year basis. On average, research analysts forecast that Workday, Inc. will post 1.76 EPS for the current year.

Analyst Ratings Changes

WDAY has been the subject of a number of research analyst reports. Evercore ISI raised their price target on shares of Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a report on Tuesday, February 20th. KeyCorp raised their price target on shares of Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Tuesday, February 27th. Citigroup raised their price target on shares of Workday from $270.00 to $293.00 and gave the stock a “neutral” rating in a report on Tuesday, February 27th. Finally, Wells Fargo & Company raised their price target on shares of Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a report on Tuesday, February 20th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average target price of $293.61.

Insider Activity

In other news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now owns 165,932 shares in the company, valued at $48,749,162.28. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, major shareholder David A. Duffield sold 64,329 shares of Workday stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the sale, the insider now owns 102,997 shares in the company, valued at $27,690,743.45. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction dated Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the transaction, the insider now directly owns 165,932 shares in the company, valued at $48,749,162.28. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock worth $117,731,569 over the last 90 days. 21.09% of the stock is currently owned by company insiders.

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.