Legacy Capital Wealth Partners LLC Trims Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Legacy Capital Wealth Partners LLC decreased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 38.7% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 925 shares of the software maker’s stock after selling 584 shares during the period. Legacy Capital Wealth Partners LLC’s holdings in Workday were worth $239,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of the company. Crews Bank & Trust purchased a new position in Workday during the fourth quarter worth about $26,000. Roxbury Financial LLC purchased a new position in shares of Workday during the fourth quarter valued at about $25,000. Avion Wealth grew its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the period. Capital Performance Advisors LLP purchased a new position in shares of Workday during the third quarter valued at approximately $26,000. Finally, Meeder Asset Management Inc. grew its holdings in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of research reports. Piper Sandler restated a “neutral” rating and issued a $270.00 price target (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price target on shares of Workday in a research note on Thursday, February 6th. Barclays cut their target price on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research note on Monday, January 13th. Finally, JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Thursday, February 6th. Eight analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $292.43.

Insider Buying and Selling at Workday

In other news, insider Sayan Chakraborty sold 5,498 shares of the stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. This represents a 4.34 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 70,003 shares of Workday stock in a transaction 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 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 position. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 in the last ninety days. Insiders own 20.00% of the company’s stock.

Workday Stock Performance

Workday stock opened at $258.05 on Tuesday. The firm has a market capitalization of $68.64 billion, a PE ratio of 42.79, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The stock’s 50 day moving average price is $262.13 and its 200 day moving average price is $251.80. 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 announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the prior year, the firm earned $0.47 earnings per share. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

About Workday

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.