SVB Wealth LLC Has $1.75 Million Stock Holdings in Workday, Inc. $WDAY

by · The Markets Daily

SVB Wealth LLC lessened its position in shares of Workday, Inc. (NASDAQ:WDAY – Free Report) by 34.3% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 7,283 shares of the software maker’s stock after selling 3,797 shares during the period. SVB Wealth LLC’s holdings in Workday were worth $1,748,000 at the end of the most recent quarter.

A number of other large investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in Workday by 2.5% during the 2nd quarter. Vanguard Group Inc. now owns 21,114,184 shares of the software maker’s stock worth $5,067,404,000 after buying an additional 515,529 shares during the period. Geode Capital Management LLC increased its holdings in shares of Workday by 2.9% during the second quarter. Geode Capital Management LLC now owns 4,952,938 shares of the software maker’s stock worth $1,183,112,000 after purchasing an additional 140,042 shares during the period. T. Rowe Price Investment Management Inc. raised its position in shares of Workday by 47.5% in the first quarter. T. Rowe Price Investment Management Inc. now owns 3,764,598 shares of the software maker’s stock valued at $879,147,000 after buying an additional 1,211,659 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in Workday by 0.4% during the 1st quarter. The Manufacturers Life Insurance Company now owns 3,736,609 shares of the software maker’s stock worth $872,610,000 after acquiring an additional 14,354 shares during the period. Finally, Hotchkis & Wiley Capital Management LLC grew its holdings in shares of Workday by 35.6% during the 1st quarter. Hotchkis & Wiley Capital Management LLC now owns 3,479,105 shares of the software maker’s stock worth $812,475,000 after purchasing an additional 913,613 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on WDAY shares. Citizens Jmp reiterated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Wednesday, November 26th. Macquarie restated a “buy” rating on shares of Workday in a research note on Wednesday, November 26th. Zacks Research cut shares of Workday from a “strong-buy” rating to a “hold” rating in a research report on Thursday, October 30th. Canaccord Genuity Group cut their target price on shares of Workday from $330.00 to $275.00 and set a “buy” rating on the stock in a research report on Friday, August 22nd. Finally, Barclays lowered their price target on shares of Workday from $288.00 to $280.00 and set an “overweight” rating for the company in a report on Wednesday, November 26th. Two investment analysts have rated the stock with a Strong Buy rating, twenty-five have assigned a Buy rating and twelve have issued a Hold rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average target price of $281.16.

View Our Latest Stock Report on WDAY

Insider Buying and Selling

In other news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction on Wednesday, October 1st. The shares were sold at an average price of $237.52, for a total transaction of $1,484,500.00. Following the transaction, the chief executive officer owned 20,222 shares in the company, valued at $4,803,129.44. This trade represents a 23.61% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction on Tuesday, October 7th. The shares were sold at an average price of $232.62, for a total value of $1,395,720.00. Following the transaction, the chief financial officer owned 168,468 shares in the company, valued at $39,189,026.16. This trade represents a 3.44% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 346,958 shares of company stock valued at $78,880,645 in the last 90 days. 20.00% of the stock is owned by insiders.

Workday Trading Up 0.5%

NASDAQ WDAY opened at $221.00 on Tuesday. Workday, Inc. has a 12 month low of $205.33 and a 12 month high of $294.00. The stock’s fifty day moving average price is $229.98 and its 200-day moving average price is $233.11. The stock has a market cap of $58.12 billion, a P/E ratio of 92.86, a P/E/G ratio of 2.66 and a beta of 1.15. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34.

Workday (NASDAQ:WDAY – Get Free Report) last posted its quarterly earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.15. The firm had revenue of $2.43 billion during the quarter, compared to analysts’ expectations of $2.42 billion. Workday had a return on equity of 10.50% and a net margin of 6.95%.The company’s revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.89 earnings per share. As a group, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Workday Profile

(Free Report)

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.

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