Workday, Inc. (NASDAQ:WDAY) Position Lowered by GraniteShares Advisors LLC

GraniteShares Advisors LLC decreased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 11.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 3,402 shares of the software maker’s stock after selling 429 shares during the period. GraniteShares Advisors LLC’s holdings in Workday were worth $878,000 as of its most recent filing with the SEC.

Several other large investors have also modified their holdings of WDAY. Roxbury Financial LLC bought a new position in shares of Workday during the fourth quarter worth about $25,000. Capital Performance Advisors LLP bought a new position in shares of Workday during the third quarter worth about $26,000. Crews Bank & Trust bought a new position in shares of Workday during the fourth quarter worth about $26,000. Avion Wealth lifted its position in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Finally, Meeder Asset Management Inc. lifted its position in shares of 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. Institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the completion of the sale, the insider now directly owns 284,000 shares in the company, valued at approximately $78,188,040. This trade represents a 16.72 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, insider Sayan Chakraborty sold 5,498 shares of the firm’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 transaction of $1,378,788.44. Following the sale, the insider now owns 121,100 shares of the company’s stock, 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 ninety days, insiders sold 438,819 shares of company stock worth $113,142,592. Corporate insiders own 20.00% of the company’s stock.

Workday Price Performance

NASDAQ WDAY opened at $255.22 on Wednesday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. 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 firm has a market capitalization of $67.89 billion, a PE ratio of 42.33, a P/E/G ratio of 3.55 and a beta of 1.35. The company’s 50 day simple moving average is $259.97 and its 200 day simple moving average is $254.12.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, equities research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

WDAY has been the topic of several research reports. The Goldman Sachs Group increased their price objective on shares of Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Barclays dropped their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Scotiabank initiated coverage on shares of Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price objective on the stock. JMP Securities reiterated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. Finally, Morgan Stanley lowered shares of Workday from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and a consensus price target of $291.11.

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.