Congress Asset Management Co. Sells 436 Shares of Workday, Inc. (NASDAQ:WDAY)

Congress Asset Management Co. lessened its stake in Workday, Inc. (NASDAQ:WDAY) by 1.1% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 40,217 shares of the software maker’s stock after selling 436 shares during the quarter. Congress Asset Management Co.’s holdings in Workday were worth $10,377,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of WDAY. Claro Advisors LLC bought a new stake in shares of Workday in the 3rd quarter worth approximately $255,000. Blue Trust Inc. raised its holdings in Workday by 84.6% during the 3rd quarter. Blue Trust Inc. now owns 3,066 shares of the software maker’s stock valued at $685,000 after acquiring an additional 1,405 shares during the period. Raymond James & Associates raised its holdings in Workday by 10.1% during the 3rd quarter. Raymond James & Associates now owns 509,513 shares of the software maker’s stock valued at $124,530,000 after acquiring an additional 46,651 shares during the period. Chicago Capital LLC raised its holdings in Workday by 1.2% during the 3rd quarter. Chicago Capital LLC now owns 242,575 shares of the software maker’s stock valued at $59,288,000 after acquiring an additional 2,964 shares during the period. Finally, New Century Financial Group LLC raised its holdings in Workday by 5.0% during the 3rd quarter. New Century Financial Group LLC now owns 1,246 shares of the software maker’s stock valued at $305,000 after acquiring an additional 59 shares during the period. Institutional investors own 89.81% of the company’s stock.

Insider Activity

In other news, CAO Mark S. Garfield sold 472 shares of the company’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, insider Sayan Chakraborty sold 5,498 shares of the company’s stock in a transaction dated Friday, November 29th. The shares were sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the transaction, the insider now directly owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,819 shares of company stock valued at $113,142,592. Insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on WDAY shares. Loop Capital lowered their target price on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Citigroup lowered their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and boosted their target price for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Finally, Royal Bank of Canada upped their price target on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus price target of $292.43.

Workday Stock Performance

NASDAQ WDAY opened at $258.05 on Monday. The company has a 50-day simple moving average of $262.13 and a two-hundred day simple moving average of $251.63. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a market cap of $68.64 billion, a price-to-earnings ratio of 42.79, a PEG ratio of 3.78 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) 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 analyst estimates of $2.13 billion. During the same period in the prior year, the business posted $0.47 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. On average, equities analysts forecast that Workday, Inc. will post 2.63 EPS for the current 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.