Abound Wealth Management Cuts Stock Position in Workday, Inc. (NASDAQ:WDAY)

Abound Wealth Management decreased its holdings in Workday, Inc. (NASDAQ:WDAY) by 8.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 1,581 shares of the software maker’s stock after selling 150 shares during the quarter. Abound Wealth Management’s holdings in Workday were worth $353,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in WDAY. Crewe Advisors LLC purchased a new position in Workday in the first quarter valued at $27,000. Sound Income Strategies LLC lifted its holdings in shares of Workday by 74.2% in the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after purchasing an additional 49 shares during the last quarter. SouthState Corp increased its position in Workday by 614.3% during the second quarter. SouthState Corp now owns 150 shares of the software maker’s stock worth $34,000 after buying an additional 129 shares during the period. Asset Dedication LLC acquired a new stake in shares of Workday in the second quarter valued at approximately $36,000. Finally, PSI Advisors LLC purchased a new stake in Workday in the 2nd quarter valued at $38,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insiders Place Their Bets

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the transaction, the director now owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In related news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the transaction, the director now owns 90,000 shares in the company, valued at $22,990,500. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Friday, June 21st. The stock was sold at an average price of $218.58, for a total value of $12,240,480.00. Following the sale, the insider now owns 730,000 shares of the company’s stock, valued at $159,563,400. The disclosure for this sale can be found here. In the last three months, insiders sold 466,402 shares of company stock valued at $107,992,034. Company insiders own 20.00% of the company’s stock.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $250.05 on Monday. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The stock has a market cap of $66.26 billion, a PE ratio of 45.05, a price-to-earnings-growth ratio of 5.40 and a beta of 1.35. The business’s fifty day moving average price is $235.24 and its two-hundred day moving average price is $243.02. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

Workday (NASDAQ:WDAY) last posted 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 firm had revenue of $2.09 billion during the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s quarterly revenue was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 EPS. On average, analysts forecast that Workday, Inc. will post 2.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

WDAY has been the topic of several recent research reports. Mizuho dropped their price target on Workday from $325.00 to $280.00 and set a “buy” rating on the stock in a research report on Friday, May 24th. Bank of America upped their price target on Workday from $265.00 to $310.00 and gave the stock a “buy” rating in a research note on Friday, August 23rd. Morgan Stanley lowered their price objective on shares of Workday from $325.00 to $315.00 and set an “overweight” rating on the stock in a research report on Friday, August 23rd. Needham & Company LLC restated a “buy” rating and set a $350.00 price objective on shares of Workday in a research report on Friday, August 23rd. Finally, Sanford C. Bernstein lowered their target price on shares of Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $288.15.

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.