Morse Asset Management Inc Decreases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Morse Asset Management Inc lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 39.0% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,347 shares of the software maker’s stock after selling 860 shares during the period. Morse Asset Management Inc’s holdings in Workday were worth $367,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the stock. Crewe Advisors LLC purchased a new stake in shares of Workday in the first quarter valued at about $27,000. Sound Income Strategies LLC lifted its holdings in shares of Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after purchasing an additional 49 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of Workday in the fourth quarter valued at about $33,000. Friedenthal Financial purchased a new stake in shares of Workday in the fourth quarter valued at about $43,000. Finally, VisionPoint Advisory Group LLC lifted its holdings in shares of Workday by 27.6% in the fourth quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock valued at $43,000 after purchasing an additional 34 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity

In other news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $209.17, for a total value of $11,922,690.00. Following the completion of the transaction, the insider now directly owns 786,000 shares in the company, valued at $164,407,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction on Friday, June 14th. The shares were sold at an average price of $209.17, for a total value of $11,922,690.00. Following the completion of the transaction, the insider now directly owns 786,000 shares in the company, valued at $164,407,620. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the transaction, the insider now owns 204,066 shares of the company’s stock, valued at $43,759,913.04. The disclosure for this sale can be found here. Over the last three months, insiders sold 524,672 shares of company stock worth $115,938,834. 20.00% of the stock is currently owned by company insiders.

Workday Trading Up 0.7 %

Shares of Workday stock traded up $1.56 during trading hours on Friday, hitting $228.64. The company’s stock had a trading volume of 1,003,283 shares, compared to its average volume of 1,840,302. Workday, Inc. has a 1-year low of $202.01 and a 1-year high of $311.28. The business has a fifty day moving average of $223.16 and a 200 day moving average of $256.87. The company has a market capitalization of $60.59 billion, a PE ratio of 41.20, a P/E/G ratio of 5.76 and a beta of 1.35. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.31 by $0.20. The company had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.16 earnings per share. As a group, equities analysts forecast that Workday, Inc. will post 2.12 EPS for the current year.

Analyst Ratings Changes

Several brokerages have issued reports on WDAY. UBS Group reduced their price target on shares of Workday from $280.00 to $255.00 and set a “neutral” rating on the stock in a report on Friday, May 24th. Robert W. Baird cut their price objective on shares of Workday from $316.00 to $265.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. JPMorgan Chase & Co. cut their price objective on shares of Workday from $300.00 to $285.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Barclays cut their price objective on shares of Workday from $316.00 to $286.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Finally, BMO Capital Markets cut their price objective on shares of Workday from $338.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $281.44.

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.