Sendero Wealth Management LLC Grows Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Sendero Wealth Management LLC lifted its position in shares of Workday, Inc. (NASDAQ:WDAY) by 47.7% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 6,203 shares of the software maker’s stock after purchasing an additional 2,003 shares during the period. Sendero Wealth Management LLC’s holdings in Workday were worth $1,601,000 as of its most recent SEC filing.

Several other large investors also recently modified their holdings of WDAY. Janus Henderson Group PLC lifted its holdings in Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after buying an additional 480,459 shares during the period. State Street Corp raised its holdings in shares of Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. Geode Capital Management LLC lifted its stake in Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after acquiring an additional 76,618 shares during the period. The Manufacturers Life Insurance Company boosted its holdings in Workday by 0.6% in the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after acquiring an additional 14,159 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in Workday by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after purchasing an additional 75,747 shares during the period. 89.81% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Royal Bank of Canada upped their target price on Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a report on Wednesday, December 18th. Loop Capital dropped their target price on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research note on Wednesday, November 27th. Wells Fargo & Company increased their price objective on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a “hold” rating to a “buy” rating and raised their target price for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Finally, Bank of America cut their price target on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $292.25.

Insider Activity

In related news, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction that occurred on Friday, November 29th. The shares were sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. This trade represents a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the transaction, the director now owns 6,845 shares of the company’s stock, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 438,819 shares of company stock worth $113,142,592. 20.00% of the stock is currently owned by corporate insiders.

Workday Trading Up 1.0 %

WDAY opened at $248.57 on Thursday. The stock has a 50-day moving average of $262.75 and a 200 day moving average of $246.44. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The firm has a market cap of $66.12 billion, a P/E ratio of 41.22, a P/E/G ratio of 4.51 and a beta of 1.34. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business’s revenue was up 15.8% compared to the same quarter last year. During the same quarter last year, the firm posted $0.47 earnings per share. As a group, research analysts forecast that Workday, Inc. will post 2.64 EPS 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.