Wealth Alliance Decreases Position in Workday, Inc. (NASDAQ:WDAY)

Wealth Alliance decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 2.5% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,065 shares of the software maker’s stock after selling 78 shares during the quarter. Wealth Alliance’s holdings in Workday were worth $791,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in WDAY. Whittier Trust Co. of Nevada Inc. lifted its stake in Workday by 73.1% during the third quarter. Whittier Trust Co. of Nevada Inc. now owns 289 shares of the software maker’s stock worth $71,000 after purchasing an additional 122 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in Workday by 13.0% in the third quarter. Sequoia Financial Advisors LLC now owns 2,561 shares of the software maker’s stock valued at $626,000 after buying an additional 295 shares during the last quarter. Signaturefd LLC increased its holdings in shares of Workday by 9.7% in the third quarter. Signaturefd LLC now owns 3,460 shares of the software maker’s stock valued at $846,000 after purchasing an additional 307 shares during the period. International Assets Investment Management LLC increased its holdings in shares of Workday by 24,593.2% in the third quarter. International Assets Investment Management LLC now owns 215,325 shares of the software maker’s stock valued at $52,628,000 after purchasing an additional 214,453 shares during the period. Finally, YHB Investment Advisors Inc. increased its holdings in shares of Workday by 26.3% in the third quarter. YHB Investment Advisors Inc. now owns 2,954 shares of the software maker’s stock valued at $722,000 after purchasing an additional 616 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY opened at $261.63 on Friday. The company has a market capitalization of $69.59 billion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 3.62 and a beta of 1.35. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The business’s 50-day moving average price is $261.10 and its 200 day moving average price is $252.54. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during 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 firm’s revenue was up 15.8% on a year-over-year basis. During the same period in the prior year, the firm posted $0.47 earnings per share. On average, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

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

Analysts Set New Price Targets

A number of brokerages recently weighed in on WDAY. Citigroup dropped their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Redburn Atlantic began coverage on Workday in a research report on Wednesday. They set a “neutral” rating on the stock. Needham & Company LLC reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Thursday, February 6th. Deutsche Bank Aktiengesellschaft upgraded 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 report on Wednesday, January 8th. Finally, Scotiabank began coverage on Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $291.11.

Workday 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.