Cullen Frost Bankers Inc. Lowers Position in Workday, Inc. (NASDAQ:WDAY)

Cullen Frost Bankers Inc. cut its holdings in Workday, Inc. (NASDAQ:WDAY) by 1.1% in the second quarter, Holdings Channel reports. The fund owned 105,953 shares of the software maker’s stock after selling 1,212 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Workday were worth $23,687,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Van ECK Associates Corp raised its holdings in shares of Workday by 1.9% during the 4th quarter. Van ECK Associates Corp now owns 5,230 shares of the software maker’s stock worth $1,444,000 after acquiring an additional 98 shares during the period. Benjamin F. Edwards & Company Inc. raised its stake in shares of Workday by 3,416.1% during the fourth quarter. Benjamin F. Edwards & Company Inc. now owns 1,090 shares of the software maker’s stock worth $301,000 after purchasing an additional 1,059 shares during the last quarter. Axxcess Wealth Management LLC purchased a new stake in shares of Workday during the fourth quarter worth approximately $219,000. Apollon Wealth Management LLC raised its position in Workday by 40.1% in the fourth quarter. Apollon Wealth Management LLC now owns 2,151 shares of the software maker’s stock worth $594,000 after acquiring an additional 616 shares in the last quarter. Finally, Montag A & Associates Inc. increased its position in shares of Workday by 7.1% in the fourth quarter. Montag A & Associates Inc. now owns 3,747 shares of the software maker’s stock valued at $1,034,000 after buying an additional 248 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

Shares of WDAY traded down $1.19 during trading hours on Friday, reaching $254.60. The stock had a trading volume of 2,252,079 shares, compared to its average volume of 2,208,223. The stock has a market capitalization of $67.47 billion, a PE ratio of 45.87, a PEG ratio of 5.56 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.00 and a current ratio of 2.04. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company’s 50-day moving average is $232.56 and its two-hundred day moving average is $245.51.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. The business had revenue of $2.09 billion during the quarter, compared to analyst estimates of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. Workday’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same period last year, the company earned $0.40 EPS. Research analysts expect that Workday, Inc. will post 2.27 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on WDAY. Stifel Nicolaus raised their price target on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Canaccord Genuity Group lifted their price objective on Workday from $270.00 to $300.00 and gave the stock a “buy” rating in a report on Friday, August 23rd. Loop Capital lifted their target price on Workday from $240.00 to $255.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Mizuho reduced their price objective on Workday from $325.00 to $280.00 and set a “buy” rating for the company in a research report on Friday, May 24th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.15.

Insider Buying and Selling

In other news, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was sold at an average price of $209.17, for a total value of $11,922,690.00. Following the completion of the sale, the insider now directly owns 786,000 shares in the company, valued at approximately $164,407,620. The sale was disclosed in a document filed with the SEC, which is accessible through this link. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, June 21st. The shares were sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the transaction, the insider now owns 730,000 shares of the company’s stock, valued at approximately $159,563,400. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction that occurred on Friday, June 14th. The stock was sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the transaction, the insider now directly owns 786,000 shares in the company, valued at approximately $164,407,620. The disclosure for this sale can be found here. Insiders sold a total of 515,902 shares of company stock valued at $117,998,849 in the last three months. Insiders own 20.00% of the company’s stock.

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.