SVB Wealth LLC Sells 3,910 Shares of Workday, Inc. (NASDAQ:WDAY)

SVB Wealth LLC cut its stake in Workday, Inc. (NASDAQ:WDAY) by 12.7% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 26,881 shares of the software maker’s stock after selling 3,910 shares during the period. SVB Wealth LLC’s holdings in Workday were worth $7,332,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Crewe Advisors LLC bought a new position in Workday in the 1st quarter valued at about $27,000. Sound Income Strategies LLC grew its stake in shares of Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after purchasing an additional 49 shares during the last quarter. CVA Family Office LLC bought a new stake in shares of Workday in the fourth quarter worth $33,000. Friedenthal Financial bought a new stake in shares of Workday in the fourth quarter worth $43,000. Finally, VisionPoint Advisory Group LLC lifted its holdings in Workday by 27.6% in the fourth quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock valued at $43,000 after buying an additional 34 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Down 0.7 %

Shares of WDAY traded down $1.51 during trading hours on Monday, reaching $227.13. 1,025,751 shares of the company traded hands, compared to its average volume of 2,172,249. The company’s fifty day moving average price is $223.16 and its two-hundred day moving average price is $256.87. The company has a market capitalization of $60.19 billion, a price-to-earnings ratio of 41.20, a price-to-earnings-growth ratio of 5.76 and a beta of 1.35. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 12 month low of $202.01 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. The firm had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.16 EPS. Equities research analysts predict that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on WDAY shares. Morgan Stanley dropped their price objective on shares of Workday from $330.00 to $325.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. StockNews.com downgraded shares of Workday from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 8th. Oppenheimer reduced their target price on shares of Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. UBS Group cut their price objective on shares of Workday from $280.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Finally, Barclays cut their price objective on shares of Workday from $316.00 to $286.00 and set an “overweight” rating for the company in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $281.44.

Insider Activity

In other news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the sale, the insider now owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other Workday news, major shareholder David A. Duffield sold 82,762 shares of Workday stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $210.28, for a total value of $17,403,193.36. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $21,658,209.16. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the transaction, the insider now directly owns 204,066 shares of the company’s stock, valued at $43,759,913.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 524,672 shares of company stock valued at $115,938,834. Corporate 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.