Strategic Investment Advisors MI Decreases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Strategic Investment Advisors MI decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 6.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,398 shares of the software maker’s stock after selling 221 shares during the period. Strategic Investment Advisors MI’s holdings in Workday were worth $877,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently made changes to their positions in the business. Capital Performance Advisors LLP purchased a new position in Workday in the 3rd quarter valued at $26,000. Meeder Asset Management Inc. lifted its holdings in Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after purchasing an additional 43 shares in the last quarter. True Wealth Design LLC lifted its holdings in Workday by 4,766.7% in the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after purchasing an additional 143 shares in the last quarter. New Millennium Group LLC lifted its holdings in Workday by 177.4% in the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock valued at $36,000 after purchasing an additional 94 shares in the last quarter. Finally, Vestor Capital LLC purchased a new position in Workday in the 3rd quarter valued at $44,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Shares of NASDAQ WDAY opened at $258.28 on Monday. The stock has a market cap of $68.70 billion, a P/E ratio of 42.83, a P/E/G ratio of 4.58 and a beta of 1.34. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a 50 day moving average of $260.91 and a two-hundred day moving average of $247.76. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.47 earnings per share. On average, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

WDAY has been the topic of several analyst reports. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Wells Fargo & Company lifted their target price on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Loop Capital decreased their price objective on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research note on Wednesday, November 27th. Mizuho lifted their price objective on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research note on Friday, December 13th. Finally, Bank of America decreased their price objective on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $292.25.

Insider Activity

In related news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction on Wednesday, December 18th. The stock was sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now owns 284,000 shares of the company’s stock, valued at $78,188,040. This represents a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the transaction, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. This represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 438,819 shares of company stock valued at $113,142,592. Company insiders own 20.00% of the company’s stock.

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.