Portside Wealth Group LLC Sells 6,154 Shares of Workday, Inc. $WDAY

Portside Wealth Group LLC lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 41.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 8,728 shares of the software maker’s stock after selling 6,154 shares during the period. Portside Wealth Group LLC’s holdings in Workday were worth $2,101,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Verdence Capital Advisors LLC boosted its holdings in shares of Workday by 1.0% during the 2nd quarter. Verdence Capital Advisors LLC now owns 4,381 shares of the software maker’s stock valued at $1,051,000 after acquiring an additional 45 shares in the last quarter. Perennial Investment Advisors LLC raised its position in Workday by 2.8% in the second quarter. Perennial Investment Advisors LLC now owns 1,741 shares of the software maker’s stock valued at $418,000 after purchasing an additional 48 shares during the last quarter. Johnson Investment Counsel Inc. boosted its stake in shares of Workday by 2.3% during the second quarter. Johnson Investment Counsel Inc. now owns 2,201 shares of the software maker’s stock valued at $528,000 after purchasing an additional 49 shares in the last quarter. Bay Harbor Wealth Management LLC grew its holdings in shares of Workday by 12.0% during the third quarter. Bay Harbor Wealth Management LLC now owns 458 shares of the software maker’s stock worth $110,000 after purchasing an additional 49 shares during the last quarter. Finally, Farther Finance Advisors LLC grew its holdings in shares of Workday by 1.2% during the third quarter. Farther Finance Advisors LLC now owns 4,128 shares of the software maker’s stock worth $994,000 after purchasing an additional 49 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on WDAY. Needham & Company LLC reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Wednesday, November 26th. Rosenblatt Securities assumed coverage on shares of Workday in a report on Tuesday, December 2nd. They set a “neutral” rating and a $235.00 price target on the stock. UBS Group set a $260.00 price objective on shares of Workday in a research note on Wednesday, November 26th. Piper Sandler lowered their target price on Workday from $235.00 to $200.00 and set a “neutral” rating for the company in a research report on Monday. Finally, Oppenheimer reiterated an “outperform” rating on shares of Workday in a research report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and thirteen have given a Hold rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $277.00.

Workday Stock Performance

Shares of WDAY opened at $170.15 on Thursday. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. The stock has a market capitalization of $44.75 billion, a P/E ratio of 71.49, a price-to-earnings-growth ratio of 1.38 and a beta of 1.13. The firm’s fifty day simple moving average is $204.95 and its two-hundred day simple moving average is $222.17. Workday, Inc. has a 12 month low of $156.87 and a 12 month high of $283.68.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, November 25th. The software maker reported $2.32 earnings per share for the quarter, topping the consensus estimate of $2.17 by $0.15. Workday had a return on equity of 10.50% and a net margin of 6.95%.The firm had revenue of $2.43 billion during the quarter, compared to analyst estimates of $2.42 billion. During the same period last year, the company posted $1.89 EPS. The business’s quarterly revenue was up 12.6% on a year-over-year basis. As a group, analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insider Transactions at Workday

In related news, CEO Carl M. Eschenbach sold 3,125 shares of the business’s stock in a transaction on Monday, January 5th. The shares were sold at an average price of $210.00, for a total transaction of $656,250.00. Following the transaction, the chief executive officer owned 17,097 shares in the company, valued at $3,590,370. The trade was a 15.45% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 82,884 shares of the stock in a transaction on Thursday, January 8th. The stock was sold at an average price of $209.75, for a total transaction of $17,384,919.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $22,034,027.75. This represents a 44.10% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders sold 370,321 shares of company stock valued at $78,866,401. 19.31% of the stock is owned by insiders.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.