KCM Investment Advisors LLC Reduces Stake in Workday, Inc. (NASDAQ:WDAY)

KCM Investment Advisors LLC cut its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 10.6% during the 3rd quarter, Holdings Channel.com reports. The firm owned 1,901 shares of the software maker’s stock after selling 225 shares during the quarter. KCM Investment Advisors LLC’s holdings in Workday were worth $465,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently bought and sold shares of WDAY. The Manufacturers Life Insurance Company lifted its position in Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after purchasing an additional 1,016,394 shares in the last quarter. Van ECK Associates Corp lifted its position in Workday by 17,345.2% during the second quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock valued at $208,068,000 after purchasing an additional 925,366 shares in the last quarter. Vanguard Group Inc. lifted its position in Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock valued at $4,029,244,000 after purchasing an additional 324,540 shares in the last quarter. D1 Capital Partners L.P. lifted its position in Workday by 152.1% during the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after purchasing an additional 312,500 shares in the last quarter. Finally, Lindbrook Capital LLC lifted its position in Workday by 17,001.6% during the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock valued at $703,000 after purchasing an additional 284,266 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Canaccord Genuity Group reissued a “buy” rating and set a $300.00 price target on shares of Workday in a report on Friday, September 13th. Wells Fargo & Company raised their price target on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft raised their price target on Workday from $265.00 to $275.00 and gave the company a “hold” rating in a report on Friday, August 23rd. JMP Securities reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a report on Thursday, September 19th. Finally, Evercore ISI decreased their price target on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $287.59.

Workday Stock Down 4.4 %

Shares of NASDAQ:WDAY opened at $259.41 on Friday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The business has a 50 day simple moving average of $246.74 and a two-hundred day simple moving average of $236.60. The firm has a market capitalization of $68.74 billion, a PE ratio of 45.19, a price-to-earnings-growth ratio of 5.39 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.65 by $0.10. The firm 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 quarterly revenue was up 16.5% on a year-over-year basis. During the same quarter in the previous year, the business earned $0.40 earnings per share. On average, equities analysts predict that Workday, Inc. will post 2.4 EPS for the current year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 39.23 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total transaction of $442,101.80. Following the completion of the transaction, the director now directly owns 8,674 shares of the company’s stock, valued at $2,097,806.90. This trade represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 370,575 shares of company stock worth $91,506,897. Company insiders own 20.00% of the company’s stock.

Workday Company 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.