Workday, Inc. (NASDAQ:WDAY) Shares Sold by Cornercap Investment Counsel Inc.

Cornercap Investment Counsel Inc. lessened its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 3.9% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 2,765 shares of the software maker’s stock after selling 112 shares during the quarter. Cornercap Investment Counsel Inc.’s holdings in Workday were worth $713,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in WDAY. Roxbury Financial LLC acquired a new stake in Workday during the 4th quarter worth approximately $25,000. Crews Bank & Trust purchased a new stake in shares of Workday during the fourth quarter worth $26,000. Avion Wealth raised its stake in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. TCTC Holdings LLC purchased a new position in Workday in the fourth quarter valued at $35,000. Finally, True Wealth Design LLC boosted its holdings in Workday by 4,766.7% in the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after purchasing an additional 143 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the company. Wells Fargo & Company increased their price target on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Citigroup decreased their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Daiwa America upgraded shares of Workday to a “strong-buy” rating in a report on Tuesday, March 4th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and boosted their target price for the stock from $265.00 to $300.00 in a research note on Wednesday, January 8th. Finally, BMO Capital Markets raised their price target on Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $300.36.

Insider Transactions at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $241.33, for a total value of $1,809,975.00. Following the completion of the sale, the director now owns 75,000 shares in the company, valued at $18,099,750. This trade represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the business’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now directly owns 6,845 shares in the company, valued at approximately $1,732,401.05. This represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders sold 487,145 shares of company stock valued at $123,289,438. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Down 2.5 %

Shares of Workday stock opened at $238.49 on Friday. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The company has a market cap of $63.44 billion, a P/E ratio of 39.55, a PEG ratio of 3.55 and a beta of 1.38. 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 firm has a fifty day moving average of $256.67 and a two-hundred day moving average of $254.82.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion for 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%. On average, analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

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.