Sequoia Financial Advisors LLC Sells 263 Shares of Workday, Inc. (NASDAQ:WDAY)

Sequoia Financial Advisors LLC decreased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 8.6% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 2,808 shares of the software maker’s stock after selling 263 shares during the period. Sequoia Financial Advisors LLC’s holdings in Workday were worth $775,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in the stock. Allspring Global Investments Holdings LLC lifted its holdings in Workday by 110.2% during the 4th quarter. Allspring Global Investments Holdings LLC now owns 393,680 shares of the software maker’s stock worth $108,679,000 after purchasing an additional 206,375 shares in the last quarter. Valley National Advisers Inc. lifted its holdings in Workday by 32.8% during the 4th quarter. Valley National Advisers Inc. now owns 231 shares of the software maker’s stock worth $63,000 after purchasing an additional 57 shares in the last quarter. Bleakley Financial Group LLC lifted its holdings in Workday by 3.0% during the 4th quarter. Bleakley Financial Group LLC now owns 3,255 shares of the software maker’s stock worth $899,000 after purchasing an additional 96 shares in the last quarter. Equitable Trust Co. purchased a new stake in Workday during the 4th quarter worth about $232,000. Finally, One Wealth Management Investment & Advisory Services LLC purchased a new stake in shares of Workday in the 4th quarter valued at about $584,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts have weighed in on WDAY shares. BMO Capital Markets raised their price target on Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a report on Tuesday, February 13th. Stifel Nicolaus raised their price target on Workday from $250.00 to $290.00 and gave the company a “hold” rating in a report on Tuesday, February 27th. Evercore ISI raised their price target on Workday from $310.00 to $350.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. JMP Securities reaffirmed a “market outperform” rating and issued a $315.00 price target on shares of Workday in a report on Tuesday, February 27th. Finally, JPMorgan Chase & Co. raised their price target on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $293.61.

Workday Price Performance

WDAY opened at $259.63 on Tuesday. The firm has a market cap of $68.54 billion, a price-to-earnings ratio of 50.41, a PEG ratio of 6.59 and a beta of 1.32. Workday, Inc. has a 1 year low of $174.25 and a 1 year high of $311.28. The stock’s 50 day simple moving average is $281.47 and its 200 day simple moving average is $261.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The business’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same period last year, the company earned ($0.14) EPS. As a group, analysts predict that Workday, Inc. will post 1.76 earnings per share for the current year.

Insider Transactions at Workday

In other news, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the sale, the insider now directly owns 165,521 shares in the company, valued at approximately $44,177,554.90. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder David A. Duffield sold 65,221 shares of the firm’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $268.29, for a total value of $17,498,142.09. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $27,633,065.13. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, insider Douglas A. Robinson sold 411 shares of the firm’s stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the completion of the transaction, the insider now owns 165,521 shares of the company’s stock, valued at approximately $44,177,554.90. The disclosure for this sale can be found here. In the last three months, insiders have sold 379,691 shares of company stock worth $102,897,729. 21.09% of the stock is currently owned by insiders.

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.