Icon Wealth Advisors LLC Lowers Stake in Workday, Inc. (NASDAQ:WDAY)

by · The Markets Daily

Icon Wealth Advisors LLC cut its position in Workday, Inc. (NASDAQ:WDAY – Free Report) by 82.1% in the third quarter, HoldingsChannel.com reports. The firm owned 2,194 shares of the software maker’s stock after selling 10,051 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Workday were worth $536,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Meeder Asset Management Inc. boosted 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 worth $35,000 after buying an additional 43 shares during the period. Diversified Trust Co boosted its stake in shares of Workday by 1.0% in the second quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock worth $1,080,000 after acquiring an additional 47 shares during the period. Opal Wealth Advisors LLC grew its position in shares of Workday by 5.2% during the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock worth $231,000 after purchasing an additional 47 shares in the last quarter. Mesirow Financial Investment Management Inc. grew its position in shares of Workday by 3.4% during the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock worth $324,000 after purchasing an additional 48 shares in the last quarter. Finally, Aspen Investment Management Inc raised its stake in Workday by 3.1% during the 2nd quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker’s stock valued at $369,000 after purchasing an additional 50 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $267.75 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a market capitalization of $70.95 billion, a price-to-earnings ratio of 46.65, a PEG ratio of 5.32 and a beta of 1.35. The firm’s 50-day moving average is $247.71 and its 200 day moving average is $236.98.

Workday (NASDAQ:WDAY – Get Free Report) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company’s quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Research analysts predict that Workday, Inc. will post 2.4 EPS for the current year.

Analyst Ratings Changes

WDAY has been the subject of several recent analyst reports. Barclays upped their price target on Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Wells Fargo & Company raised their target price on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research note on Friday, August 23rd. Loop Capital lifted their price target on shares of Workday from $255.00 to $270.00 and gave the company a “hold” rating in a report on Thursday, November 14th. Morgan Stanley dropped their price objective on shares of Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Finally, Scotiabank assumed coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $289.46.

Check Out Our Latest Stock Analysis on Workday

Insiders Place Their Bets

In other news, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total transaction of $738,934.52. Following the transaction, the insider now owns 85,795 shares in the company, valued at approximately $20,228,745.10. This trade represents a 3.52 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock worth $91,506,897 in the last three months. Corporate insiders own 20.00% of the company’s stock.

Workday Company 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.

See Also

Want to see what other hedge funds are holding WDAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workday, Inc. (NASDAQ:WDAY – Free Report).