Peapack Gladstone Financial Corp Reduces Holdings in Workday, Inc. (NASDAQ:WDAY)

Peapack Gladstone Financial Corp lowered its stake in Workday, Inc. (NASDAQ:WDAYFree Report) by 19.6% during the fourth quarter, Holdings Channel.com reports. The institutional investor owned 1,698 shares of the software maker’s stock after selling 413 shares during the period. Peapack Gladstone Financial Corp’s holdings in Workday were worth $469,000 at the end of the most recent reporting period.

A number of other large investors have also recently bought and sold shares of WDAY. Rafferty Asset Management LLC boosted its stake in shares of Workday by 10.5% during the fourth quarter. Rafferty Asset Management LLC now owns 57,083 shares of the software maker’s stock valued at $15,758,000 after acquiring an additional 5,434 shares during the last quarter. Kodai Capital Management LP acquired a new stake in shares of Workday during the 4th quarter worth about $85,994,000. CIBC Asset Management Inc grew its holdings in shares of Workday by 3.3% during the fourth quarter. CIBC Asset Management Inc now owns 36,299 shares of the software maker’s stock worth $10,021,000 after buying an additional 1,166 shares in the last quarter. KBC Group NV raised its position in shares of Workday by 3.4% in the fourth quarter. KBC Group NV now owns 197,945 shares of the software maker’s stock valued at $54,645,000 after buying an additional 6,476 shares during the last quarter. Finally, Campbell & CO Investment Adviser LLC purchased a new position in shares of Workday during the fourth quarter valued at approximately $1,859,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Up 1.2 %

Shares of NASDAQ:WDAY opened at $214.95 on Friday. The company has a market capitalization of $56.75 billion, a price-to-earnings ratio of 38.73, a price-to-earnings-growth ratio of 6.44 and a beta of 1.33. The company has a 50 day moving average of $248.75 and a two-hundred day moving average of $267.94. Workday, Inc. has a 52-week low of $201.42 and a 52-week high of $311.28. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAYGet Free Report) last announced its earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating 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 business had revenue of $1.99 billion during the quarter, compared to the consensus estimate of $1.97 billion. During the same period in the prior year, the firm earned $0.16 earnings per share. The business’s quarterly revenue was up 18.1% compared to the same quarter last year. As a group, analysts forecast that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on WDAY shares. TheStreet raised shares of Workday from a “c” rating to a “b-” rating in a research note on Monday, February 26th. Bank of America lowered their price objective on Workday from $330.00 to $310.00 and set a “buy” rating for the company in a research report on Thursday, May 16th. Oppenheimer reduced their target price on Workday from $320.00 to $300.00 and set an “outperform” rating on the stock in a research report on Friday, May 24th. Morgan Stanley lowered their price target on Workday from $330.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, May 24th. Finally, Piper Sandler cut their price objective on shares of Workday from $330.00 to $280.00 and set an “overweight” rating on the stock in a report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company’s stock. According to data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average target price of $283.96.

Read Our Latest Analysis on Workday

Insider Buying and Selling at Workday

In related news, major shareholder David A. Duffield sold 64,329 shares of the business’s stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the transaction, the insider now owns 102,997 shares in the company, valued at $27,690,743.45. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the firm’s stock in a transaction on Monday, March 18th. The shares were sold at an average price of $272.02, for a total transaction of $15,505,140.00. Following the completion of the transaction, the insider now directly owns 1,067,000 shares of the company’s stock, valued at approximately $290,245,340. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 64,329 shares of the company’s stock in a transaction dated Friday, March 15th. The shares were sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. Insiders sold a total of 518,042 shares of company stock valued at $134,777,415 in the last ninety days. Insiders own 20.00% of the company’s stock.

Workday Profile

(Free Report)

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.

Further Reading

Want to see what other hedge funds are holding WDAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workday, Inc. (NASDAQ:WDAYFree Report).

Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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