Dakota Wealth Management Sells 40 Shares of Workday, Inc. (NASDAQ:WDAY)

Dakota Wealth Management decreased its position in Workday, Inc. (NASDAQ:WDAY) by 1.0% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,051 shares of the software maker’s stock after selling 40 shares during the period. Dakota Wealth Management’s holdings in Workday were worth $1,045,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Sanctuary Advisors LLC boosted its stake in shares of Workday by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock valued at $7,934,000 after purchasing an additional 1,978 shares during the last quarter. Grafton Street Partners Fund LP bought a new stake in shares of Workday during the third quarter worth approximately $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its holdings in 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 buying an additional 7,802 shares during the period. Nordea Investment Management AB boosted its stake in Workday by 20.5% in the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after acquiring an additional 119,769 shares during the last quarter. Finally, Legal & General Group Plc grew its holdings in Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after acquiring an additional 118,180 shares during the period. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the sale, the insider now directly owns 60,000 shares in the company, valued at approximately $14,785,200. This trade represents a 48.28 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the transaction, the insider now directly owns 121,100 shares in the company, valued at $30,369,458. The trade was a 4.34 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 438,819 shares of company stock worth $113,142,592. Insiders own 20.00% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of analyst reports. Royal Bank of Canada increased their price target on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, December 18th. Wells Fargo & Company increased their target price on Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research note on Monday, December 9th. Piper Sandler restated a “neutral” rating and set a $270.00 target price (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Guggenheim upgraded shares of Workday from a “sell” rating to a “neutral” rating in a research report on Monday, January 6th. Finally, Scotiabank assumed coverage on shares of Workday in a report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price objective for the company. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $292.25.

Workday Price Performance

Shares of NASDAQ WDAY opened at $258.28 on Friday. 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 business has a 50-day moving average of $260.93 and a 200-day moving average of $247.36. The stock has a market capitalization of $68.70 billion, a price-to-earnings ratio of 42.83, a PEG ratio of 4.58 and a beta of 1.34. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results 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 the consensus estimate of $2.13 billion. During the same period last year, the company earned $0.47 earnings per share. The business’s revenue was up 15.8% compared to the same quarter last year. As a group, sell-side analysts predict that Workday, Inc. will post 2.63 earnings per share for the current fiscal 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.