Orion Portfolio Solutions LLC Reduces Stake in Workday, Inc. (NASDAQ:WDAY)

Orion Portfolio Solutions LLC decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 12.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 52,684 shares of the software maker’s stock after selling 7,258 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Workday were worth $13,594,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. grew its holdings in shares of Workday by 4.3% during the fourth quarter. Nomura Asset Management Co. Ltd. now owns 81,489 shares of the software maker’s stock worth $21,027,000 after purchasing an additional 3,333 shares during the last quarter. Norges Bank purchased a new stake in shares of Workday in the 4th quarter valued at about $645,710,000. NEOS Investment Management LLC boosted its position in shares of Workday by 105.8% in the 4th quarter. NEOS Investment Management LLC now owns 25,133 shares of the software maker’s stock valued at $6,485,000 after purchasing an additional 12,923 shares during the period. UniSuper Management Pty Ltd grew its stake in Workday by 68.0% during the 4th quarter. UniSuper Management Pty Ltd now owns 92,542 shares of the software maker’s stock worth $23,879,000 after buying an additional 37,442 shares during the last quarter. Finally, Sava Infond d.o.o. acquired a new position in Workday during the fourth quarter worth approximately $4,438,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on WDAY shares. Royal Bank of Canada increased their price objective on Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Stifel Nicolaus raised their price objective on shares of Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research report on Wednesday, February 26th. Oppenheimer lifted their price objective on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Daiwa America upgraded shares of Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, UBS Group raised their price target on Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus target price of $300.36.

Workday Stock Performance

NASDAQ:WDAY opened at $238.49 on Friday. 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 company has a market capitalization of $63.44 billion, a P/E ratio of 39.55, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The firm has a 50-day moving average price of $256.67 and a two-hundred day moving average price of $254.83. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data 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). Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. As a group, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Transactions at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the sale, the director now owns 75,000 shares in the company, valued at approximately $18,099,750. This trade represents a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 70,144 shares of Workday stock in a transaction that occurred on Monday, March 24th. The stock was sold at an average price of $250.26, for a total transaction of $17,554,237.44. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,776,029.22. The trade was a 40.51 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 487,145 shares of company stock valued at $123,289,438 over the last three months. 20.00% of the stock is currently owned by insiders.

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.