Workday, Inc. (NASDAQ:WDAY) Shares Sold by Cypress Asset Management Inc. TX

Cypress Asset Management Inc. TX trimmed its holdings in Workday, Inc. (NASDAQ:WDAY) by 1.6% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 6,036 shares of the software maker’s stock after selling 100 shares during the period. Cypress Asset Management Inc. TX’s holdings in Workday were worth $1,247,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Atticus Wealth Management LLC acquired a new stake in shares of Workday in the first quarter valued at approximately $25,000. Strategic Investment Solutions Inc. IL acquired a new stake in Workday during the 1st quarter valued at $25,000. Elequin Securities LLC purchased a new position in Workday during the fourth quarter worth $27,000. West Oak Capital LLC acquired a new position in shares of Workday in the first quarter worth $29,000. Finally, Valley National Advisers Inc. lifted its position in shares of Workday by 83.7% in the first quarter. Valley National Advisers Inc. now owns 158 shares of the software maker’s stock valued at $30,000 after acquiring an additional 72 shares in the last quarter. 68.46% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Down 0.5 %

NASDAQ WDAY traded down $1.21 during mid-day trading on Wednesday, reaching $246.52. 200,808 shares of the company’s stock traded hands, compared to its average volume of 1,932,931. The company has a current ratio of 2.00, a quick ratio of 2.00 and a debt-to-equity ratio of 0.47. Workday, Inc. has a 1-year low of $128.72 and a 1-year high of $252.72. The company has a fifty day simple moving average of $231.96 and a 200-day simple moving average of $210.12. The company has a market cap of $64.59 billion, a price-to-earnings ratio of -516.10, a P/E/G ratio of 11.75 and a beta of 1.23.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, August 24th. The software maker reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.26 by $0.17. The business had revenue of $1.79 billion during the quarter, compared to the consensus estimate of $1.77 billion. Workday had a negative net margin of 1.81% and a positive return on equity of 2.09%. The business’s quarterly revenue was up 16.6% compared to the same quarter last year. During the same quarter last year, the company earned ($0.16) earnings per share. As a group, equities research analysts expect that Workday, Inc. will post 0.77 EPS for the current 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 dated Friday, September 8th. The stock was sold at an average price of $251.00, for a total value of $1,255,000.00. Following the completion of the sale, the director now directly owns 115,000 shares of the company’s stock, valued at $28,865,000. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other Workday news, insider Douglas A. Robinson sold 407 shares of the stock in a transaction on Tuesday, September 5th. The shares were sold at an average price of $246.26, for a total transaction of $100,227.82. Following the sale, the insider now directly owns 178,323 shares of the company’s stock, valued at $43,913,821.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction dated Friday, September 8th. The shares were sold at an average price of $251.00, for a total transaction of $1,255,000.00. Following the completion of the transaction, the director now directly owns 115,000 shares of the company’s stock, valued at $28,865,000. The disclosure for this sale can be found here. In the last 90 days, insiders sold 29,143 shares of company stock valued at $6,606,140. Insiders own 21.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on WDAY. Jefferies Financial Group upped their price objective on shares of Workday from $250.00 to $275.00 and gave the company a “buy” rating in a research note on Tuesday, August 15th. Wells Fargo & Company raised their price objective on Workday from $260.00 to $280.00 and gave the stock an “overweight” rating in a report on Friday, August 25th. Needham & Company LLC upped their target price on Workday from $220.00 to $250.00 and gave the company a “buy” rating in a research note on Friday, August 25th. Guggenheim raised their price target on Workday from $142.00 to $169.00 and gave the stock a “sell” rating in a research note on Friday, August 25th. Finally, StockNews.com started coverage on Workday in a report on Tuesday, August 22nd. They issued a “buy” rating for the company. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and twenty-six have issued a buy rating to the company. According to MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus price target of $245.71.

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, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers 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.