Grassi Investment Management lessened its stake in shares of Workday, Inc. (NASDAQ:WDAY – Free Report) by 3.1% in the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 16,475 shares of the software maker’s stock after selling 525 shares during the period. Grassi Investment Management’s holdings in Workday were worth $3,722,000 as of its most recent filing with the Securities & Exchange Commission.
Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Sanders Morris Harris LLC bought a new position in shares of Workday during the 2nd quarter valued at about $1,179,000. First Affirmative Financial Network purchased a new stake in shares of Workday during the 2nd quarter valued at about $269,000. B.O.S.S. Retirement Advisors LLC raised its position in shares of Workday by 6.8% during the 2nd quarter. B.O.S.S. Retirement Advisors LLC now owns 6,213 shares of the software maker’s stock valued at $1,403,000 after buying an additional 396 shares in the last quarter. Outlook Wealth Advisors LLC raised its position in Workday by 61.6% in the 2nd quarter. Outlook Wealth Advisors LLC now owns 3,649 shares of the software maker’s stock worth $824,000 after purchasing an additional 1,391 shares during the period. Finally, DNB Asset Management AS raised its position in Workday by 2.0% in the 2nd quarter. DNB Asset Management AS now owns 37,380 shares of the software maker’s stock worth $8,444,000 after purchasing an additional 727 shares during the period. Institutional investors own 68.46% of the company’s stock.
Insider Buying and Selling
In related news, insider Douglas A. Robinson sold 11,000 shares of the firm’s stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $220.98, for a total transaction of $2,430,780.00. Following the completion of the transaction, the insider now owns 181,863 shares of the company’s stock, valued at $40,188,085.74. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Workday news, insider Douglas A. Robinson sold 11,000 shares of Workday stock in a transaction on Wednesday, June 21st. The shares were sold at an average price of $220.98, for a total value of $2,430,780.00. Following the completion of the transaction, the insider now owns 181,863 shares of the company’s stock, valued at $40,188,085.74. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Aneel Bhusri sold 3,869 shares of Workday stock in a transaction on Wednesday, July 5th. The shares were sold at an average price of $221.43, for a total transaction of $856,712.67. Following the completion of the transaction, the chief executive officer now directly owns 553,893 shares of the company’s stock, valued at approximately $122,648,526.99. The disclosure for this sale can be found here. Insiders sold a total of 137,476 shares of company stock valued at $33,752,223 over the last 90 days. Insiders own 21.09% of the company’s stock.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on WDAY shares. Needham & Company LLC increased their price objective on shares of Workday from $220.00 to $250.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Canaccord Genuity Group raised their target price on shares of Workday from $240.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. UBS Group raised their target price on shares of Workday from $220.00 to $240.00 and gave the stock a “neutral” rating in a research report on Thursday, August 17th. Mizuho raised their target price on shares of Workday from $250.00 to $260.00 and gave the stock a “buy” rating in a research report on Friday, August 25th. Finally, Morgan Stanley raised their target price on shares of Workday from $250.00 to $260.00 and gave the stock an “overweight” rating in a research report on Friday, August 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and twenty-six have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and an average target price of $247.06.
Workday Trading Down 1.7 %
Shares of Workday stock opened at $240.86 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 2.00 and a quick ratio of 2.00. The firm has a fifty day moving average price of $233.37 and a 200 day moving average price of $211.05. Workday, Inc. has a 1 year low of $128.72 and a 1 year high of $252.72. The stock has a market cap of $63.11 billion, a PE ratio of -501.79, a price-to-earnings-growth ratio of 11.49 and a beta of 1.23.
Workday (NASDAQ:WDAY – Get Free Report) last issued its earnings results on Thursday, August 24th. The software maker reported $1.43 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.26 by $0.17. Workday had a negative net margin of 1.81% and a positive return on equity of 2.09%. The firm had revenue of $1.79 billion during the quarter, compared to analysts’ expectations of $1.77 billion. During the same quarter last year, the company posted ($0.16) earnings per share. The firm’s revenue was up 16.6% compared to the same quarter last year. Equities research analysts predict that Workday, Inc. will post 0.77 earnings per share 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, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers 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.