Lmcg Investments LLC Decreases Stock Position in Workday, Inc. (NASDAQ:WDAY)

Lmcg Investments LLC decreased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 1.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 19,325 shares of the software maker’s stock after selling 203 shares during the quarter. Lmcg Investments LLC’s holdings in Workday were worth $4,986,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of WDAY. Marcum Wealth LLC increased its position in Workday by 4.4% during the 4th quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after purchasing an additional 41 shares during the period. Meeder Asset Management Inc. raised its holdings in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after purchasing an additional 43 shares during the last quarter. Kingsview Wealth Management LLC boosted its position in Workday by 0.9% during the third 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 in the last quarter. Opal Wealth Advisors LLC grew its holdings in 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 purchasing an additional 47 shares during the last quarter. Finally, Fulton Bank N.A. increased its position in shares of Workday by 1.3% in the fourth quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker’s stock valued at $954,000 after buying an additional 48 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Buying and Selling at Workday

In other news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 70,003 shares of the stock in a transaction that occurred on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total transaction of $17,584,753.60. Following the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $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. Insiders have sold 438,819 shares of company stock worth $113,142,592 in the last ninety days. 20.00% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. Citigroup decreased their price objective on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Mizuho raised their price objective on shares of Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research note on Friday, December 13th. Loop Capital lowered their target price on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a report on Wednesday, November 27th. Scotiabank began coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price target for the company. Finally, Needham & Company LLC reiterated a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Monday, November 25th. Eight analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $292.25.

Workday Stock Performance

NASDAQ:WDAY opened at $249.64 on Tuesday. The firm has a 50-day moving average of $262.40 and a two-hundred day moving average of $246.94. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market cap of $66.40 billion, a P/E ratio of 41.40, a PEG ratio of 4.51 and a beta of 1.34. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm earned $0.47 EPS. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. On average, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal 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.