First Horizon Advisors Inc. Sells 388 Shares of Workday, Inc. (NASDAQ:WDAY)

First Horizon Advisors Inc. reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 59.9% in the 4th quarter, HoldingsChannel.com reports. The fund owned 260 shares of the software maker’s stock after selling 388 shares during the quarter. First Horizon Advisors Inc.’s holdings in Workday were worth $67,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in WDAY. Olympiad Research LP bought a new stake in Workday in the 4th quarter valued at $492,000. VisionPoint Advisory Group LLC bought a new stake in Workday in the 4th quarter valued at $64,000. Paradigm Asset Management Co. LLC bought a new stake in Workday in the 4th quarter valued at $232,000. Cromwell Holdings LLC bought a new stake in shares of Workday during the 4th quarter valued at $51,000. Finally, First Bank & Trust lifted its position in shares of Workday by 49.2% during the 4th quarter. First Bank & Trust now owns 6,029 shares of the software maker’s stock valued at $1,556,000 after acquiring an additional 1,989 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Down 3.9 %

Shares of NASDAQ:WDAY opened at $260.57 on Friday. The firm has a market cap of $69.31 billion, a P/E ratio of 43.21, a PEG ratio of 3.55 and a beta of 1.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $298.50. The business’s 50 day simple moving average is $259.89 and its two-hundred day simple moving average is $254.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on WDAY. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Wells Fargo & Company boosted their price target on Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday. Mizuho boosted their price target on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a report on Friday, December 13th. Canaccord Genuity Group boosted their price target on Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a report on Wednesday. Finally, Morgan Stanley cut Workday from an “overweight” rating to an “equal weight” rating and lowered their price target for the stock from $330.00 to $275.00 in a report on Wednesday, February 19th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $302.14.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 70,003 shares of the stock in a transaction that occurred on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $25,872,846.40. This trade represents a 40.46 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 433,321 shares of company stock valued at $111,763,803 over the last ninety days. 20.00% of the stock is currently owned by insiders.

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.