Schechter Investment Advisors LLC Reduces Holdings in Workday, Inc. (NASDAQ:WDAY)

Schechter Investment Advisors LLC decreased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 1.6% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,807 shares of the software maker’s stock after selling 77 shares during the period. Schechter Investment Advisors LLC’s holdings in Workday were worth $1,240,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Marcum Wealth LLC increased its stake in Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after buying an additional 41 shares during the period. Custom Index Systems LLC increased its stake in Workday by 3.0% during the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock worth $364,000 after buying an additional 41 shares during the period. Meeder Asset Management Inc. increased its stake in Workday by 42.2% during 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. Kingsview Wealth Management LLC increased its stake in Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after buying an additional 43 shares during the period. Finally, Fulton Bank N.A. increased its stake in Workday by 1.3% during the 4th quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock worth $954,000 after buying an additional 48 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 70,090 shares of the business’s stock in a transaction that occurred on Wednesday, January 8th. The shares were sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the sale, the insider now owns 102,997 shares in the company, valued at $26,215,826.41. The trade was a 40.49 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the business’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 369,374 shares of company stock valued at $95,786,918. Company insiders own 20.00% of the company’s stock.

Workday Trading Down 3.3 %

Shares of NASDAQ:WDAY opened at $254.57 on Tuesday. The company has a 50 day moving average of $259.48 and a 200-day moving average of $255.31. The firm has a market cap of $67.72 billion, a P/E ratio of 42.22, a P/E/G ratio of 3.55 and a beta of 1.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

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

Wall Street Analysts Forecast Growth

WDAY has been the topic of several analyst reports. Scotiabank lifted their price target on shares of Workday from $340.00 to $355.00 and gave the stock a “sector outperform” rating in a research note on Thursday, February 27th. Citigroup dropped their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Bank of America dropped their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday, November 27th. JMP Securities reissued a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research report on Thursday, February 6th. Finally, BMO Capital Markets boosted their target price on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $302.14.

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.