Kovack Advisors Inc. Sells 227 Shares of Workday, Inc. (NASDAQ:WDAY)

Kovack Advisors Inc. cut its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 16.1% in the fourth quarter, HoldingsChannel reports. The fund owned 1,179 shares of the software maker’s stock after selling 227 shares during the period. Kovack Advisors Inc.’s holdings in Workday were worth $325,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of WDAY. Vontobel Holding Ltd. lifted its holdings in shares of Workday by 5.1% in the fourth quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock worth $18,517,000 after buying an additional 3,260 shares in the last quarter. Morgan Stanley grew its holdings in Workday by 47.0% during the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after buying an additional 872,288 shares in the last quarter. QRG Capital Management Inc. purchased a new position in Workday during the 3rd quarter valued at approximately $345,000. Assenagon Asset Management S.A. increased its stake in Workday by 58.8% in the 4th quarter. Assenagon Asset Management S.A. now owns 278,569 shares of the software maker’s stock worth $76,902,000 after acquiring an additional 103,171 shares during the last quarter. Finally, Mariner LLC raised its holdings in shares of Workday by 21.1% during the 3rd quarter. Mariner LLC now owns 28,304 shares of the software maker’s stock worth $6,081,000 after acquiring an additional 4,927 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the stock. Evercore ISI raised their target price on shares of Workday from $310.00 to $350.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Guggenheim restated a “sell” rating and issued a $190.00 target price on shares of Workday in a report on Tuesday, February 27th. KeyCorp increased their price target on shares of Workday from $310.00 to $330.00 and gave the company an “overweight” rating in a report on Thursday, February 22nd. The Goldman Sachs Group boosted their price objective on Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, TheStreet raised Workday from a “c” rating to a “b-” rating in a research note on Monday, February 26th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $293.61.

Workday Stock Performance

Shares of WDAY stock opened at $248.77 on Tuesday. The company’s 50 day moving average is $272.42 and its 200 day moving average is $264.59. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The firm has a market cap of $65.68 billion, a price-to-earnings ratio of 48.30, a PEG ratio of 6.27 and a beta of 1.32. Workday, Inc. has a 52-week low of $174.25 and a 52-week high of $311.28.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. The firm had revenue of $1.92 billion during the quarter, compared to analysts’ expectations of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the business posted ($0.14) EPS. On average, sell-side analysts anticipate that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Insider Transactions at Workday

In related news, Director George J. Still, Jr. sold 5,000 shares of the business’s stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the transaction, the director now directly owns 105,000 shares in the company, valued at approximately $28,404,600. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total value of $1,352,600.00. Following the completion of the sale, the director now directly owns 105,000 shares in the company, valued at approximately $28,404,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Richard Harry Sauer sold 8,447 shares of Workday stock in a transaction on Monday, April 8th. The stock was sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the sale, the insider now owns 66,356 shares of the company’s stock, valued at $17,797,342.76. The disclosure for this sale can be found here. Insiders have sold a total of 435,691 shares of company stock valued at $117,731,569 in the last 90 days. Insiders own 21.09% of the company’s stock.

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.