Global Retirement Partners LLC Reduces Position in Workday, Inc. (NASDAQ:WDAY)

Global Retirement Partners LLC trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 4.3% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 1,726 shares of the software maker’s stock after selling 77 shares during the quarter. Global Retirement Partners LLC’s holdings in Workday were worth $422,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Crewe Advisors LLC purchased a new stake in shares of Workday during the first quarter worth about $27,000. Sound Income Strategies LLC increased its holdings in Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after buying an additional 49 shares during the last quarter. SouthState Corp increased its holdings in Workday by 614.3% in the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock valued at $34,000 after buying an additional 129 shares during the last quarter. Pacific Center for Financial Services increased its holdings in Workday by 57.0% in the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock valued at $43,000 after buying an additional 57 shares during the last quarter. Finally, Goodman Advisory Group LLC bought a new stake in Workday in the second quarter valued at about $35,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts recently weighed in on the company. BMO Capital Markets reissued an “outperform” rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. The Goldman Sachs Group boosted their price objective on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. KeyCorp boosted their price objective on Workday from $275.00 to $305.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft boosted their price objective on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 23rd. Finally, Canaccord Genuity Group reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Friday, September 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $287.04.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the sale, the insider now directly owns 281,000 shares in the company, valued at $68,004,810. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction on Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the transaction, the insider now owns 281,000 shares of the company’s stock, valued at approximately $68,004,810. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $26,902,816.40. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 370,575 shares of company stock worth $91,506,897 over the last ninety days. Company insiders own 20.00% of the company’s stock.

Workday Stock Performance

WDAY opened at $243.75 on Tuesday. The company has a market capitalization of $64.59 billion, a price-to-earnings ratio of 43.92, a price-to-earnings-growth ratio of 4.85 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28. The business has a 50 day moving average price of $245.87 and a two-hundred day moving average price of $237.61.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The firm had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period 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 fiscal year.

Workday 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.