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

Orion Portfolio Solutions LLC lessened its position in shares of Workday, Inc. (NASDAQ:WDAY) by 10.0% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 59,942 shares of the software maker’s stock after selling 6,681 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Workday were worth $14,650,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Meeder Asset Management Inc. boosted its holdings in shares of Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. Kingsview Wealth Management LLC grew its position in Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 43 shares during the last quarter. Diversified Trust Co increased its stake in Workday by 1.0% in the second quarter. Diversified Trust Co now owns 4,830 shares of the software maker’s stock valued at $1,080,000 after purchasing an additional 47 shares during the period. Opal Wealth Advisors LLC raised its holdings in shares of Workday by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after buying an additional 47 shares during the last quarter. Finally, Mesirow Financial Investment Management Inc. boosted its stake in shares of Workday by 3.4% during the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock worth $324,000 after buying an additional 48 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research report on Thursday, September 19th. KeyCorp upped their price target on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. Morgan Stanley lifted their price objective on shares of Workday from $315.00 to $330.00 and gave the company an “overweight” rating in a research report on Wednesday, November 27th. Evercore ISI cut their price objective on shares of Workday from $300.00 to $290.00 and set an “outperform” rating for the company in a research report on Tuesday, August 20th. Finally, Scotiabank started coverage on shares of Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price on the stock. One analyst has rated the stock with a sell rating, eight have issued a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $288.14.

Insider Activity at Workday

In related news, insider Richard Harry Sauer sold 3,134 shares of Workday stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now owns 85,795 shares in the company, valued at approximately $20,228,745.10. This trade represents a 3.52 % 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 the SEC website. Also, major shareholder David A. Duffield sold 70,003 shares of the company’s stock in a transaction dated Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $25,872,846.40. This represents a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 361,463 shares of company stock worth $88,422,088. 20.00% of the stock is currently owned by insiders.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $266.42 on Friday. The company has a 50-day simple moving average of $250.42 and a 200-day simple moving average of $237.55. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The company has a market cap of $70.60 billion, a PE ratio of 44.18, a price-to-earnings-growth ratio of 4.91 and a beta of 1.34. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.21%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the previous year, the company earned $0.47 EPS. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities analysts anticipate that Workday, Inc. will post 2.58 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 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.