Cullen Frost Bankers Inc. Sells 461 Shares of Workday, Inc. (NASDAQ:WDAY)

Cullen Frost Bankers Inc. lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 0.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 92,707 shares of the software maker’s stock after selling 461 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Workday were worth $25,593,000 at the end of the most recent quarter.

Several other large investors have also recently modified their holdings of WDAY. Beacon Capital Management LLC increased its position in shares of Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock valued at $25,000 after purchasing an additional 70 shares during the last quarter. VisionPoint Advisory Group LLC boosted its holdings in Workday by 215.4% during the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after acquiring an additional 84 shares during the period. Clear Street Markets LLC purchased a new position in Workday during the 3rd quarter valued at $29,000. Exchange Traded Concepts LLC boosted its holdings in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after acquiring an additional 105 shares during the period. Finally, CVA Family Office LLC purchased a new position in Workday during the 4th quarter valued at $33,000. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ WDAY traded down $0.48 on Tuesday, reaching $249.43. 1,647,172 shares of the company’s stock traded hands, compared to its average volume of 1,839,280. Workday, Inc. has a fifty-two week low of $174.25 and a fifty-two week high of $311.28. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The firm has a market cap of $65.85 billion, a price-to-earnings ratio of 48.43, a P/E/G ratio of 6.39 and a beta of 1.33. The stock has a 50 day moving average price of $266.02 and a 200-day moving average price of $266.06.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.10. The business had revenue of $1.92 billion during the quarter, compared to analyst estimates of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company’s revenue was up 16.8% on a year-over-year basis. During the same quarter last year, the business posted ($0.14) EPS. Equities research analysts predict that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 64,329 shares of Workday stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $27,690,743.45. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder David A. Duffield sold 64,329 shares of Workday stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $27,690,743.45. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 65,221 shares of Workday stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $27,633,065.13. The disclosure for this sale can be found here. In the last quarter, insiders sold 435,691 shares of company stock worth $117,731,569. Insiders own 21.09% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have weighed in on WDAY. Barclays lowered their target price on Workday from $326.00 to $316.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. Needham & Company LLC upped their target price on Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. JPMorgan Chase & Co. upped their target price on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Thursday, February 22nd. Piper Sandler reiterated an “overweight” rating and issued a $330.00 target price on shares of Workday in a report on Monday, February 26th. Finally, The Goldman Sachs Group upped their target price on Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $293.61.

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.