Victory Capital Management Inc. Lowers Stock Position in Workday, Inc. (NASDAQ:WDAY)

Victory Capital Management Inc. decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 6.7% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 314,902 shares of the software maker’s stock after selling 22,736 shares during the period. Victory Capital Management Inc.’s holdings in Workday were worth $86,932,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Beacon Capital Management LLC raised its position in Workday by 333.3% in the fourth quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after acquiring an additional 70 shares in the last quarter. VisionPoint Advisory Group LLC increased its holdings in shares of Workday by 215.4% in the 3rd quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock valued at $26,000 after purchasing an additional 84 shares in the last quarter. Clear Street Markets LLC acquired a new stake in shares of Workday in the third quarter valued at about $29,000. Exchange Traded Concepts LLC boosted its holdings in Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after buying an additional 105 shares in the last quarter. Finally, CVA Family Office LLC acquired a new position in Workday during the fourth quarter worth about $33,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

WDAY has been the topic of several research analyst reports. Piper Sandler reissued an “overweight” rating and set a $330.00 price target on shares of Workday in a research note on Monday, February 26th. KeyCorp boosted their price objective on shares of Workday from $310.00 to $330.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. Wells Fargo & Company raised their target price on shares of Workday from $300.00 to $350.00 and gave the company an “overweight” rating in a report on Tuesday, February 20th. StockNews.com downgraded shares of Workday from a “strong-buy” rating to a “buy” rating in a report on Monday, April 8th. Finally, BMO Capital Markets lifted their price objective on Workday from $290.00 to $338.00 and gave the stock an “outperform” rating in a research report on Tuesday, February 13th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the stock. According to data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average price target of $293.61.

Workday Stock Up 2.0 %

WDAY opened at $255.78 on Friday. The company has a market cap of $67.53 billion, a PE ratio of 49.67, a price-to-earnings-growth ratio of 6.27 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. Workday, Inc. has a 1 year low of $174.25 and a 1 year high of $311.28. The firm has a 50 day moving average price of $269.08 and a 200 day moving average price of $264.57.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period last year, the company posted ($0.14) earnings per share. The firm’s revenue was up 16.8% compared to the same quarter last year. Sell-side analysts expect that Workday, Inc. will post 1.76 earnings per share for the current year.

Insiders Place Their Bets

In related news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the transaction, the insider now directly owns 165,932 shares in the company, valued at $48,749,162.28. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total value of $916,918.59. Following the sale, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the business’s stock in a transaction on Friday, March 22nd. The stock was sold at an average price of $276.95, for a total value of $15,509,200.00. Following the transaction, the insider now owns 1,011,000 shares of the company’s stock, valued at approximately $279,996,450. 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 quarter. Insiders own 21.09% of the company’s stock.

About Workday

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.