Spire Wealth Management Sells 140 Shares of Workday, Inc. (NASDAQ:WDAY)

Spire Wealth Management reduced its position in Workday, Inc. (NASDAQ:WDAY) by 6.7% during the second quarter, according to its most recent 13F filing with the SEC. The firm owned 1,954 shares of the software maker’s stock after selling 140 shares during the period. Spire Wealth Management’s holdings in Workday were worth $437,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WDAY. Crewe Advisors LLC purchased a new position in Workday during the 1st quarter valued at about $27,000. Sound Income Strategies LLC grew its holdings in Workday by 74.2% during the 1st quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock valued at $31,000 after buying an additional 49 shares in the last quarter. VisionPoint Advisory Group LLC grew its holdings in Workday by 27.6% during the 4th quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock valued at $43,000 after buying an additional 34 shares in the last quarter. Pacific Center for Financial Services grew its holdings in Workday by 57.0% during the 1st quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock valued at $43,000 after buying an additional 57 shares in the last quarter. Finally, PSI Advisors LLC purchased a new position in Workday during the 2nd quarter valued at about $38,000. 89.81% of the stock is currently owned by institutional investors.

Insider Transactions at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.29, for a total transaction of $812,365.09. Following the sale, the insider now directly owns 196,344 shares of the company’s stock, valued at $51,106,379.76. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the transaction, the director now owns 97,500 shares of the company’s stock, valued at $25,381,200. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the stock in a transaction dated Monday, August 26th. The shares were sold at an average price of $260.29, for a total value of $812,365.09. Following the completion of the transaction, the insider now directly owns 196,344 shares in the company, valued at approximately $51,106,379.76. The disclosure for this sale can be found here. Over the last three months, insiders have sold 449,410 shares of company stock valued at $100,631,138. Insiders own 20.00% of the company’s stock.

Workday Price Performance

WDAY opened at $263.19 on Tuesday. The stock has a fifty day simple moving average of $229.59 and a two-hundred day simple moving average of $245.98. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a market cap of $69.75 billion, a price-to-earnings ratio of 47.42, a price-to-earnings-growth ratio of 5.66 and a beta of 1.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY) last released its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. During the same period in the prior year, the firm posted $0.40 earnings per share. The company’s quarterly revenue was up 16.5% on a year-over-year basis. Research analysts predict that Workday, Inc. will post 2.27 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on WDAY shares. Guggenheim reaffirmed a “sell” rating and set a $190.00 target price on shares of Workday in a report on Tuesday, June 25th. JPMorgan Chase & Co. cut their price objective on Workday from $300.00 to $285.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Stifel Nicolaus boosted their price objective on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Sanford C. Bernstein cut their price objective on Workday from $321.00 to $301.00 and set an “outperform” rating for the company in a report on Friday, May 24th. Finally, Oppenheimer cut their price objective on Workday from $320.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $288.15.

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.