Cullen Frost Bankers Inc. Sells 7,757 Shares of Workday, Inc. $WDAY

Cullen Frost Bankers Inc. cut its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 9.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 75,159 shares of the software maker’s stock after selling 7,757 shares during the period. Cullen Frost Bankers Inc.’s holdings in Workday were worth $18,093,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Quilter Plc grew its position in shares of Workday by 8.8% during the 3rd quarter. Quilter Plc now owns 952 shares of the software maker’s stock worth $229,000 after buying an additional 77 shares during the period. AMF Tjanstepension AB bought a new position in Workday during the 3rd quarter worth approximately $47,016,000. CIBC Asset Management Inc boosted its stake in Workday by 0.9% during the 3rd quarter. CIBC Asset Management Inc now owns 87,745 shares of the software maker’s stock worth $21,123,000 after acquiring an additional 814 shares during the last quarter. Stoneridge Investment Partners LLC grew its holdings in Workday by 15.6% during the third quarter. Stoneridge Investment Partners LLC now owns 7,713 shares of the software maker’s stock valued at $1,857,000 after purchasing an additional 1,039 shares during the period. Finally, Oxbow Advisors LLC bought a new stake in Workday in the third quarter valued at approximately $6,364,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Activity

In related news, major shareholder David A. Duffield sold 82,884 shares of Workday stock in a transaction dated Thursday, January 8th. The stock was sold at an average price of $209.75, for a total value of $17,384,919.00. Following the sale, the insider owned 105,049 shares of the company’s stock, valued at approximately $22,034,027.75. The trade was a 44.10% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Gerrit S. Kazmaier sold 3,759 shares of the stock in a transaction that occurred on Tuesday, January 6th. The shares were sold at an average price of $208.73, for a total value of $784,616.07. Following the transaction, the insider directly owned 105,167 shares of the company’s stock, valued at $21,951,507.91. This trade represents a 3.45% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders sold 370,321 shares of company stock worth $78,866,401. 19.31% of the stock is currently owned by company insiders.

Workday Trading Up 0.6%

NASDAQ:WDAY opened at $189.26 on Friday. Workday, Inc. has a twelve month low of $180.56 and a twelve month high of $283.68. The company has a quick ratio of 1.83, a current ratio of 1.83 and a debt-to-equity ratio of 0.34. The business has a 50 day moving average price of $212.32 and a two-hundred day moving average price of $225.04. The company has a market cap of $49.78 billion, a P/E ratio of 79.52, a price-to-earnings-growth ratio of 2.13 and a beta of 1.14.

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

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on WDAY. Needham & Company LLC reissued a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Wednesday, November 26th. Barclays reduced their target price on Workday from $280.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, January 12th. Sanford C. Bernstein lowered their price target on Workday from $304.00 to $298.00 and set an “outperform” rating for the company in a report on Wednesday, November 26th. BTIG Research assumed coverage on Workday in a research report on Tuesday, December 16th. They set a “buy” rating and a $285.00 price target on the stock. Finally, TD Cowen reiterated a “buy” rating on shares of Workday in a research report on Wednesday, November 26th. Two research analysts have rated the stock with a Strong Buy rating, twenty-four have given a Buy rating and thirteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $278.09.

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.