GRIMES & Co WEALTH MANAGEMENT LLC Sells 3,343 Shares of Workday, Inc. $WDAY

GRIMES & Co WEALTH MANAGEMENT LLC lowered its position in shares of Workday, Inc. (NASDAQ:WDAY) by 11.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 25,902 shares of the software maker’s stock after selling 3,343 shares during the period. GRIMES & Co WEALTH MANAGEMENT LLC’s holdings in Workday were worth $6,236,000 at the end of the most recent reporting period.

Other institutional investors have also recently modified their holdings of the company. AlphaQuest LLC increased its position in shares of Workday by 636.7% in the second quarter. AlphaQuest LLC now owns 1,886 shares of the software maker’s stock valued at $453,000 after acquiring an additional 1,630 shares during the period. Norges Bank bought a new stake in shares of Workday in the second quarter worth about $442,702,000. Chicago Capital LLC increased its holdings in Workday by 2.2% during the 2nd quarter. Chicago Capital LLC now owns 175,802 shares of the software maker’s stock valued at $42,193,000 after purchasing an additional 3,824 shares during the period. Robeco Institutional Asset Management B.V. raised its position in Workday by 16.1% during the 3rd quarter. Robeco Institutional Asset Management B.V. now owns 483,382 shares of the software maker’s stock valued at $116,365,000 after purchasing an additional 67,125 shares during the last quarter. Finally, Stance Capital LLC purchased a new stake in Workday in the 2nd quarter worth approximately $1,276,000. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of recent analyst reports. Cowen restated a “buy” rating on shares of Workday in a report on Wednesday, November 26th. Royal Bank Of Canada reduced their price objective on shares of Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Monday, January 5th. Citigroup dropped their target price on shares of Workday from $261.00 to $247.00 and set a “neutral” rating for the company in a research report on Wednesday, November 26th. Rosenblatt Securities initiated coverage on shares of Workday in a research report on Tuesday, December 2nd. They set a “neutral” rating and a $235.00 price target on the stock. Finally, Piper Sandler raised shares of Workday from an “underweight” rating to a “neutral” rating and increased their price target for the stock from $220.00 to $235.00 in a research note on Wednesday, September 17th. Two research analysts have rated the stock with a Strong Buy rating, twenty-five have issued a Buy rating and thirteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $278.09.

Insider Buying and Selling at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of the business’s stock in a transaction on Tuesday, January 6th. The stock was sold at an average price of $208.75, for a total value of $1,252,500.00. Following the sale, the chief financial officer directly owned 159,158 shares of the company’s stock, valued at approximately $33,224,232.50. The trade was a 3.63% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Gerrit S. Kazmaier sold 6,547 shares of the stock in a transaction on Friday, December 19th. The stock was sold at an average price of $218.77, for a total value of $1,432,287.19. Following the completion of the sale, the insider directly owned 111,353 shares in the company, valued at approximately $24,360,695.81. This represents a 5.55% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 370,321 shares of company stock valued at $78,866,401 in the last ninety days. Corporate insiders own 20.00% of the company’s stock.

Workday Trading Up 0.4%

NASDAQ:WDAY opened at $207.91 on Tuesday. The firm has a market capitalization of $54.68 billion, a P/E ratio of 87.36, a PEG ratio of 2.34 and a beta of 1.14. The company has a debt-to-equity ratio of 0.34, a current ratio of 1.83 and a quick ratio of 1.83. Workday, Inc. has a one year low of $202.22 and a one year high of $283.68. The company’s 50-day simple moving average is $219.25 and its 200 day simple moving average is $228.15.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 25th. The software maker reported $2.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.17 by $0.15. Workday had a net margin of 6.95% and a return on equity of 10.50%. 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 business earned $1.89 earnings per share. The business’s revenue was up 12.6% on a year-over-year basis. As a group, analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Workday Company 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.