Westwood Holdings Group Inc. Acquires 78 Shares of Workday, Inc. (NASDAQ:WDAY)

Westwood Holdings Group Inc. lifted its position in Workday, Inc. (NASDAQ:WDAY) by 1.9% in the 1st quarter, Holdings Channel.com reports. The institutional investor owned 4,263 shares of the software maker’s stock after acquiring an additional 78 shares during the period. Westwood Holdings Group Inc.’s holdings in Workday were worth $1,163,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Crewe Advisors LLC bought a new position in Workday in the first quarter valued at about $27,000. Sound Income Strategies LLC lifted its stake in shares of Workday by 74.2% in the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker’s stock worth $31,000 after acquiring an additional 49 shares during the period. Friedenthal Financial acquired a new position in Workday in the fourth quarter valued at approximately $43,000. VisionPoint Advisory Group LLC lifted its stake in Workday by 27.6% in the fourth 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 during the period. Finally, Pacific Center for Financial Services raised its position in shares of Workday by 57.0% during the first quarter. Pacific Center for Financial Services now owns 157 shares of the software maker’s stock worth $43,000 after purchasing an additional 57 shares during the period. 89.81% of the stock is owned by institutional investors.

Insider Activity at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the sale, the insider now directly owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In other news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction dated Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total value of $669,267.24. Following the completion of the transaction, the insider now directly owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction dated Friday, June 14th. The shares were sold at an average price of $209.17, for a total transaction of $11,922,690.00. Following the completion of the transaction, the insider now directly owns 786,000 shares of the company’s stock, valued at $164,407,620. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 524,672 shares of company stock valued at $115,938,834. Company insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

A number of research analysts have recently weighed in on the company. KeyCorp dropped their target price on Workday from $330.00 to $275.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. Canaccord Genuity Group lowered their target price on Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Citigroup decreased their price objective on Workday from $293.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Morgan Stanley reduced their target price on Workday from $330.00 to $325.00 and set an “overweight” rating for the company in a research report on Friday, May 24th. Finally, Needham & Company LLC reiterated a “buy” rating and issued a $350.00 price objective on shares of Workday in a report on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company. According to data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $281.44.

Workday Stock Down 3.5 %

NASDAQ:WDAY traded down $7.72 during midday trading on Friday, hitting $214.86. 2,456,516 shares of the company were exchanged, compared to its average volume of 1,822,007. The company has a fifty day simple moving average of $220.32 and a 200 day simple moving average of $255.01. Workday, Inc. has a fifty-two week low of $202.01 and a fifty-two week high of $311.28. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $56.94 billion, a PE ratio of 38.71, a price-to-earnings-growth ratio of 5.42 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, topping the consensus estimate of $0.31 by $0.20. Workday had a net margin of 19.66% and a return on equity of 5.78%. The company had revenue of $1.99 billion for the quarter, compared to analyst estimates of $1.97 billion. During the same period in the prior year, the business posted $0.16 earnings per share. The firm’s revenue for the quarter was up 18.1% compared to the same quarter last year. As a group, equities analysts anticipate that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

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.