HighTower Advisors LLC Sells 878 Shares of Workday, Inc. (NASDAQ:WDAY)

HighTower Advisors LLC lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 2.8% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 30,514 shares of the software maker’s stock after selling 878 shares during the quarter. HighTower Advisors LLC’s holdings in Workday were worth $7,874,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of WDAY. Raymond James Financial Inc. bought a new stake in Workday during the fourth quarter worth $194,679,000. Two Sigma Advisers LP grew its holdings in Workday by 1,094.2% during the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker’s stock worth $150,019,000 after buying an additional 562,400 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in Workday by 62.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker’s stock worth $350,921,000 after buying an additional 524,799 shares in the last quarter. KBC Group NV grew its holdings in Workday by 340.3% during the fourth quarter. KBC Group NV now owns 655,733 shares of the software maker’s stock worth $169,199,000 after buying an additional 506,812 shares in the last quarter. Finally, Janus Henderson Group PLC grew its holdings in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after buying an additional 480,459 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY opened at $250.62 on Tuesday. The stock’s 50-day simple moving average is $256.84 and its 200 day simple moving average is $255.38. The stock has a market capitalization of $66.66 billion, a price-to-earnings ratio of 41.56, a price-to-earnings-growth 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. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

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

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WDAY. KeyCorp upped their price objective on Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. UBS Group upped their price objective on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Citigroup reduced their price objective on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. BNP Paribas upgraded Workday to a “strong-buy” rating in a research note on Friday, February 14th. Finally, Redburn Atlantic began coverage on Workday in a research note on Wednesday, February 19th. They issued a “neutral” rating for the company. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $300.36.

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 472 shares of the stock in a transaction dated Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the transaction, the director now owns 6,845 shares in the company, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 443,329 shares of company stock valued at $114,843,294 in the last 90 days. Corporate insiders own 20.00% of the company’s stock.

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.