Aaron Wealth Advisors LLC Trims Holdings in Workday, Inc. (NASDAQ:WDAY)

Aaron Wealth Advisors LLC lowered its position in shares of Workday, Inc. (NASDAQ:WDAY) by 8.2% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,712 shares of the software maker’s stock after selling 152 shares during the quarter. Aaron Wealth Advisors LLC’s holdings in Workday were worth $442,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of WDAY. Jackson Square Capital LLC purchased a new stake in Workday during the 4th quarter valued at approximately $260,000. HB Wealth Management LLC grew its stake in Workday by 5.0% during the fourth quarter. HB Wealth Management LLC now owns 7,566 shares of the software maker’s stock valued at $1,952,000 after acquiring an additional 360 shares in the last quarter. Arkadios Wealth Advisors increased its holdings in Workday by 11.3% in the 4th quarter. Arkadios Wealth Advisors now owns 3,525 shares of the software maker’s stock valued at $910,000 after acquiring an additional 357 shares during the last quarter. Merit Financial Group LLC purchased a new stake in Workday in the 4th quarter worth $578,000. Finally, Procyon Advisors LLC boosted its holdings in shares of Workday by 2.5% during the 4th quarter. Procyon Advisors LLC now owns 8,502 shares of the software maker’s stock valued at $2,194,000 after purchasing an additional 211 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Price Performance

Shares of WDAY opened at $249.64 on Monday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company’s fifty day moving average price is $262.40 and its 200-day moving average price is $246.79. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The firm has a market capitalization of $66.40 billion, a PE ratio of 41.40, a price-to-earnings-growth ratio of 4.51 and a beta of 1.34.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period last year, the business posted $0.47 earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. On average, equities research analysts predict that Workday, Inc. will post 2.64 EPS for the current year.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 70,090 shares of the company’s stock in a transaction on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total value of $17,840,007.70. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. This represents a 40.49 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction dated Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the sale, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 438,819 shares of company stock valued at $113,142,592 in the last ninety days. Insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of research analyst reports. Mizuho boosted their target price on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Piper Sandler reiterated a “neutral” rating and set a $270.00 target price (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Royal Bank of Canada raised their target price on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Scotiabank began coverage on shares of Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. Finally, Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Monday, November 25th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $292.25.

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.