Stratos Wealth Partners LTD. Sells 531 Shares of Workday, Inc. (NASDAQ:WDAY)

Stratos Wealth Partners LTD. lessened its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 41.1% in the 4th quarter, according to its most recent disclosure with the SEC. The firm owned 761 shares of the software maker’s stock after selling 531 shares during the period. Stratos Wealth Partners LTD.’s holdings in Workday were worth $210,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Morgan Stanley grew its holdings in Workday by 47.0% during the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after purchasing an additional 872,288 shares during the period. QRG Capital Management Inc. purchased a new stake in shares of Workday during the third quarter worth about $345,000. Assenagon Asset Management S.A. grew its position in shares of Workday by 58.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 278,569 shares of the software maker’s stock worth $76,902,000 after purchasing an additional 103,171 shares in the last quarter. Mariner LLC grew its position in shares of Workday by 21.1% during the third quarter. Mariner LLC now owns 28,304 shares of the software maker’s stock worth $6,081,000 after purchasing an additional 4,927 shares in the last quarter. Finally, International Assets Investment Management LLC grew its position in shares of Workday by 22,896.2% during the fourth quarter. International Assets Investment Management LLC now owns 241,000 shares of the software maker’s stock worth $66,530,000 after purchasing an additional 239,952 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts recently issued reports on WDAY shares. Citigroup increased their target price on Workday from $270.00 to $293.00 and gave the stock a “neutral” rating in a research report on Tuesday, February 27th. JPMorgan Chase & Co. increased their target price on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Mizuho increased their target price on Workday from $290.00 to $325.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Wells Fargo & Company increased their price target on Workday from $300.00 to $350.00 and gave the company an “overweight” rating in a research note on Tuesday, February 20th. Finally, Morgan Stanley dropped their price target on Workday from $335.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction that occurred on Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $27,690,743.45. The sale was disclosed in a document filed with the SEC, which is available at this link. In other Workday news, insider Douglas A. Robinson sold 411 shares of the firm’s stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total transaction of $109,695.90. Following the transaction, the insider now directly owns 165,521 shares in the company, valued at approximately $44,177,554.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 64,329 shares of the firm’s stock in a transaction on Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the transaction, the insider now owns 102,997 shares in the company, valued at $27,690,743.45. The disclosure for this sale can be found here. Over 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 company insiders.

Workday Price Performance

NASDAQ:WDAY opened at $257.69 on Wednesday. The firm has a market capitalization of $68.03 billion, a price-to-earnings ratio of 50.04, 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 business has a 50 day simple moving average of $280.85 and a 200-day simple moving average of $262.06. 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 results on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, topping the consensus estimate of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the business posted ($0.14) earnings per share. The company’s revenue for the quarter was up 16.8% on a year-over-year basis. Equities analysts forecast that Workday, Inc. will post 1.76 EPS for the current 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.