Kingswood Wealth Advisors LLC Trims Stake in Workday, Inc. (NASDAQ:WDAY)

Kingswood Wealth Advisors LLC cut its position in Workday, Inc. (NASDAQ:WDAY) by 70.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 997 shares of the software maker’s stock after selling 2,381 shares during the quarter. Kingswood Wealth Advisors LLC’s holdings in Workday were worth $257,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in shares of Workday during the third quarter worth approximately $26,000. Meeder Asset Management Inc. raised its position 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 during the last quarter. New Millennium Group LLC boosted its stake in Workday by 177.4% during the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker’s stock worth $36,000 after purchasing an additional 94 shares during the period. True Wealth Design LLC grew its position in Workday by 4,766.7% during the 3rd quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after purchasing an additional 143 shares during the last quarter. Finally, Fortitude Family Office LLC increased its stake in Workday by 713.6% in the third quarter. Fortitude Family Office LLC now owns 179 shares of the software maker’s stock valued at $44,000 after purchasing an additional 157 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares in the company, valued at $14,785,200. The trade was a 48.28 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock worth $113,142,592 over the last ninety days. 20.00% of the stock is currently owned by corporate insiders.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $262.06 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The business’s fifty day moving average price is $261.07 and its two-hundred day moving average price is $248.88. The stock has a market cap of $69.71 billion, a PE ratio of 43.46, a price-to-earnings-growth ratio of 4.79 and a beta of 1.34. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 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 business’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter last year, the company earned $0.47 earnings per share. On average, analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on WDAY. Needham & Company LLC reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Monday, November 25th. Guggenheim raised Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and increased their price target for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Finally, Bank of America dropped their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $292.25.

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.