Carnegie Investment Counsel Sells 6,177 Shares of Workday, Inc. $WDAY

Carnegie Investment Counsel decreased its holdings in Workday, Inc. (NASDAQ:WDAY) by 19.7% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 25,223 shares of the software maker’s stock after selling 6,177 shares during the period. Carnegie Investment Counsel’s holdings in Workday were worth $6,072,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Brighton Jones LLC increased its position in Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock valued at $1,033,000 after acquiring an additional 2,792 shares during the last quarter. CreativeOne Wealth LLC grew its stake in shares of Workday by 41.9% during the 1st quarter. CreativeOne Wealth LLC now owns 4,099 shares of the software maker’s stock valued at $957,000 after acquiring an additional 1,210 shares during the period. Trexquant Investment LP bought a new position in shares of Workday during the 1st quarter valued at approximately $3,156,000. Canada Pension Plan Investment Board increased its holdings in Workday by 83.9% in the 1st quarter. Canada Pension Plan Investment Board now owns 166,636 shares of the software maker’s stock worth $38,915,000 after acquiring an additional 76,004 shares in the last quarter. Finally, Evergreen Capital Management LLC raised its stake in Workday by 19.7% during the 1st quarter. Evergreen Capital Management LLC now owns 2,313 shares of the software maker’s stock worth $540,000 after acquiring an additional 381 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Price Performance

Shares of Workday stock opened at $220.70 on Friday. The firm has a market cap of $58.04 billion, a PE ratio of 92.73, a PEG ratio of 2.49 and a beta of 1.15. The stock has a 50 day moving average of $225.39 and a 200 day moving average of $230.52. The company has a current ratio of 1.83, a quick ratio of 1.83 and a debt-to-equity ratio of 0.34. Workday, Inc. has a 12 month low of $205.33 and a 12 month high of $283.68.

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

Insider Buying and Selling

In related news, Director Michael M. Mcnamara sold 5,393 shares of the company’s stock in a transaction on Friday, October 10th. The shares were sold at an average price of $235.16, for a total transaction of $1,268,217.88. Following the sale, the director owned 24,078 shares of the company’s stock, valued at $5,662,182.48. This represents a 18.30% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, insider Gerrit S. Kazmaier sold 6,547 shares of the stock in a transaction on Friday, December 19th. The shares were sold at an average price of $218.77, for a total transaction of $1,432,287.19. Following the transaction, the insider owned 111,353 shares of the company’s stock, valued at $24,360,695.81. This trade represents a 5.55% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 266,937 shares of company stock valued at $59,316,578 in the last three months. Corporate insiders own 19.31% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on WDAY shares. Wells Fargo & Company reduced their price objective on shares of Workday from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday, November 26th. Citigroup decreased their price target on Workday from $261.00 to $247.00 and set a “neutral” rating on the stock in a report on Wednesday, November 26th. JPMorgan Chase & Co. lowered their price objective on Workday from $290.00 to $270.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 26th. Guggenheim reaffirmed a “buy” rating and issued a $285.00 price objective on shares of Workday in a research note on Wednesday, November 26th. Finally, Stifel Nicolaus decreased their target price on Workday from $255.00 to $235.00 and set a “hold” rating on the stock in a research note on Wednesday, November 26th. Two equities research analysts have rated the stock with a Strong Buy rating, twenty-six have issued a Buy rating and twelve have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $282.22.

Workday Profile

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.