Park Avenue Securities LLC Sells 1,157 Shares of Workday, Inc. (NASDAQ:WDAY)

Park Avenue Securities LLC trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 12.7% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 7,948 shares of the software maker’s stock after selling 1,157 shares during the quarter. Park Avenue Securities LLC’s holdings in Workday were worth $1,856,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Roxbury Financial LLC bought a new stake in shares of Workday during the fourth quarter worth $25,000. Avion Wealth lifted its position in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after purchasing an additional 86 shares during the last quarter. TCTC Holdings LLC bought a new stake in shares of Workday during the fourth quarter worth $35,000. Rakuten Securities Inc. lifted its position in shares of Workday by 78.6% during the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after purchasing an additional 66 shares during the last quarter. Finally, Financial Management Professionals Inc. lifted its position in shares of Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker’s stock worth $36,000 after purchasing an additional 54 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several research analyst reports. Wells Fargo & Company decreased their target price on Workday from $360.00 to $325.00 and set an “overweight” rating for the company in a research report on Tuesday, April 22nd. Redburn Atlantic assumed coverage on Workday in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. KeyCorp decreased their price objective on Workday from $335.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, May 23rd. Jefferies Financial Group decreased their price objective on Workday from $350.00 to $325.00 and set a “buy” rating for the company in a report on Monday, March 31st. Finally, JMP Securities restated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Friday, May 23rd. Nine research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $293.54.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 81,275 shares of the business’s stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $22,111,395.96. The trade was a 44.11% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the business’s stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the sale, the chief executive officer now owns 10,847 shares in the company, valued at $2,544,814.67. The trade was a 22.37% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 259,838 shares of company stock worth $61,738,776. Insiders own 19.31% of the company’s stock.

Workday Price Performance

WDAY opened at $252.73 on Wednesday. The business’s 50-day moving average is $243.42 and its two-hundred day moving average is $252.78. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The firm has a market capitalization of $67.48 billion, a PE ratio of 41.91, a price-to-earnings-growth ratio of 3.55 and a beta of 1.24.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. During the same quarter in the previous year, the firm earned $1.74 earnings per share. The company’s revenue was up 12.6% on a year-over-year basis. Research analysts anticipate that Workday, Inc. will post 2.63 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.