Huntington National Bank Decreases Stake in Workday, Inc. (NASDAQ:WDAY)

Huntington National Bank decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 7.5% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,130 shares of the software maker’s stock after selling 91 shares during the quarter. Huntington National Bank’s holdings in Workday were worth $276,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of WDAY. ORG Partners LLC grew its stake in Workday by 3,717.9% during the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after acquiring an additional 3,123 shares in the last quarter. Grafton Street Partners Fund LP purchased a new stake in shares of Workday in the third quarter valued at approximately $4,424,000. ICICI Prudential Asset Management Co Ltd increased its holdings in shares of Workday by 32.4% in 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 purchasing an additional 7,802 shares during the last quarter. O Shaughnessy Asset Management LLC lifted its position in Workday by 42.1% during the first quarter. O Shaughnessy Asset Management LLC now owns 13,380 shares of the software maker’s stock worth $3,649,000 after buying an additional 3,965 shares in the last quarter. Finally, Vanguard Group Inc. boosted its stake in Workday by 2.2% during the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after buying an additional 324,540 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Trading Down 4.4 %

WDAY opened at $259.41 on Friday. The business has a fifty day moving average price of $246.74 and a 200 day moving average price of $236.60. 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, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The stock has a market capitalization of $68.74 billion, a price-to-earnings ratio of 45.19, a PEG ratio of 5.39 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. The business had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the previous year, the company posted $0.40 earnings per share. Sell-side analysts expect that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several research firms have recently commented on WDAY. Evercore ISI reduced 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. Wells Fargo & Company lifted their target price on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research note on Friday, August 23rd. DA Davidson boosted their target price on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. The Goldman Sachs Group raised their price target on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Finally, Citigroup decreased their price objective on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average target price of $287.59.

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the completion of the transaction, the insider now directly owns 281,000 shares of the company’s stock, valued at $68,004,810. This represents a 16.62 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of the firm’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 sale, the director now directly owns 8,674 shares in the company, valued at approximately $2,097,806.90. The trade was a 17.41 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 370,575 shares of company stock valued at $91,506,897. 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.