Cambridge Investment Research Advisors Inc. Cuts Stock Position in Workday Inc (NASDAQ:WDAY)

Cambridge Investment Research Advisors Inc. lowered its position in Workday Inc (NASDAQ:WDAY) by 1.5% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 12,119 shares of the software maker’s stock after selling 182 shares during the period. Cambridge Investment Research Advisors Inc.’s holdings in Workday were worth $1,993,000 as of its most recent SEC filing.

Several other institutional investors have also recently modified their holdings of WDAY. Sumitomo Mitsui Trust Holdings Inc. grew its position in shares of Workday by 55.1% in the 3rd quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 889,005 shares of the software maker’s stock worth $151,095,000 after buying an additional 315,764 shares during the last quarter. Nikko Asset Management Americas Inc. purchased a new stake in Workday during the 3rd quarter worth approximately $44,215,000. Johanson Financial Advisors Inc. grew its position in Workday by 15,837.6% during the 4th quarter. Johanson Financial Advisors Inc. now owns 258,189 shares of the software maker’s stock worth $1,570,000 after purchasing an additional 256,569 shares during the last quarter. Russell Investments Group Ltd. grew its position in Workday by 131.5% during the 4th quarter. Russell Investments Group Ltd. now owns 314,056 shares of the software maker’s stock worth $51,594,000 after purchasing an additional 178,416 shares during the last quarter. Finally, State of New Jersey Common Pension Fund D purchased a new stake in Workday during the 3rd quarter worth approximately $19,630,000. 66.72% of the stock is currently owned by hedge funds and other institutional investors.

Shares of NASDAQ WDAY opened at $196.99 on Friday. The company has a current ratio of 1.19, a quick ratio of 1.19 and a debt-to-equity ratio of 0.54. Workday Inc has a 12 month low of $151.06 and a 12 month high of $226.83. The company has a 50 day simple moving average of $180.68 and a two-hundred day simple moving average of $175.69. The stock has a market cap of $45.31 billion, a price-to-earnings ratio of -97.04 and a beta of 1.48.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, December 3rd. The software maker reported $0.53 EPS for the quarter, beating the consensus estimate of $0.37 by $0.16. Workday had a negative net margin of 13.29% and a negative return on equity of 11.63%. The business had revenue of $938.10 million during the quarter, compared to analysts’ expectations of $920.65 million. During the same period in the previous year, the business posted $0.31 EPS. The business’s quarterly revenue was up 26.2% compared to the same quarter last year. Analysts forecast that Workday Inc will post -1.12 EPS for the current year.

In related news, insider Petros Dermetzis sold 5,290 shares of the business’s stock in a transaction on Monday, December 16th. The shares were sold at an average price of $160.33, for a total value of $848,145.70. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director David A. Duffield sold 210 shares of the business’s stock in a transaction on Wednesday, January 15th. The shares were sold at an average price of $179.48, for a total transaction of $37,690.80. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 802,275 shares of company stock valued at $132,821,744. Company insiders own 29.80% of the company’s stock.

Several analysts have weighed in on the stock. Societe Generale raised shares of Workday from a “sell” rating to a “hold” rating in a research report on Tuesday, October 22nd. BMO Capital Markets dropped their target price on shares of Workday from $225.00 to $200.00 and set an “outperform” rating on the stock in a research report on Wednesday, December 4th. JPMorgan Chase & Co. dropped their target price on shares of Workday from $200.00 to $190.00 and set an “overweight” rating on the stock in a research report on Wednesday, December 4th. Morgan Stanley boosted their target price on shares of Workday from $180.00 to $196.00 and gave the stock an “equal weight” rating in a research report on Monday, January 13th. Finally, Compass Point downgraded shares of Workday from a “buy” rating to a “neutral” rating and set a $199.00 target price on the stock. in a research report on Wednesday, December 4th. Three investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company’s stock. The company has an average rating of “Buy” and a consensus target price of $209.40.

About Workday

Workday, Inc provides enterprise cloud applications worldwide. Its applications help its customers to manage critical business functions and optimize their financial and human capital resources. The company offers Workday Financial Management application that provides functions of general ledger, accounting, accounts payable and receivable, cash and asset management, revenue management, and grants management, as well as project and resource management, time and expense tracking, project billing, revenue recognition, financial reporting, and analytics.

Further Reading: What Does a Sell-Side Analyst Rating Mean?

Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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