Stonegate Investment Group LLC Sells 7,338 Shares of Workday, Inc. (NASDAQ:WDAY)

Stonegate Investment Group LLC lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 35.1% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 13,560 shares of the software maker’s stock after selling 7,338 shares during the quarter. Stonegate Investment Group LLC’s holdings in Workday were worth $3,499,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Sanctuary Advisors LLC lifted its position in Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after purchasing an additional 1,978 shares during the last quarter. Grafton Street Partners Fund LP bought a new stake in Workday in the third quarter valued at approximately $4,424,000. ICICI Prudential Asset Management Co Ltd increased its stake in shares of Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after buying an additional 7,802 shares during the period. Nordea Investment Management AB increased its stake in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after buying an additional 119,769 shares during the period. Finally, Atria Investments Inc increased its stake in shares of Workday by 19.3% during the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after buying an additional 7,175 shares during the period. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

WDAY has been the topic of several research analyst reports. Scotiabank initiated coverage on Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 target price on the stock. Wells Fargo & Company upped their price target on Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Mizuho upped their price target on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Morgan Stanley upped their price target on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Finally, Piper Sandler reaffirmed a “neutral” rating and issued a $270.00 price target (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $292.25.

Insider Activity

In other news, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now directly owns 6,845 shares of the company’s stock, valued at $1,732,401.05. The trade was a 21.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 438,819 shares of company stock valued at $113,142,592 in the last 90 days. Company insiders own 20.00% of the company’s stock.

Workday Stock Up 2.3 %

WDAY stock opened at $264.25 on Tuesday. The company has a market cap of $70.29 billion, a price-to-earnings ratio of 43.82, a P/E/G ratio of 4.58 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The business’s 50-day moving average is $260.91 and its two-hundred day moving average is $247.93. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter last year, the firm posted $0.47 earnings per share. The firm’s revenue was up 15.8% compared to the same quarter last year. As a group, analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

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.