Orion Portfolio Solutions LLC Reduces Holdings in Workday, Inc. (NASDAQ:WDAY)

Orion Portfolio Solutions LLC cut its position in Workday, Inc. (NASDAQ:WDAY) by 24.6% in the 4th quarter, Holdings Channel.com reports. The firm owned 58,941 shares of the software maker’s stock after selling 19,272 shares during the quarter. Orion Portfolio Solutions LLC’s holdings in Workday were worth $16,087,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in the company. Beacon Capital Management LLC lifted its stake in shares of 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. Exchange Traded Concepts LLC boosted its stake in Workday by 1,750.0% during the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after acquiring an additional 105 shares during the last quarter. CVA Family Office LLC acquired a new position in Workday during the 4th quarter worth $33,000. VisionPoint Advisory Group LLC increased its position 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 worth $26,000 after purchasing an additional 84 shares during the last quarter. Finally, Clear Street Markets LLC acquired a new stake in shares of Workday in the 3rd quarter valued at about $29,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, insider Douglas A. Robinson sold 411 shares of the company’s stock in a transaction on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the transaction, the insider now directly owns 165,521 shares of the company’s stock, valued at $44,177,554.90. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Douglas A. Robinson sold 411 shares of the business’s stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the completion of the sale, the insider now owns 165,521 shares of the company’s stock, valued at approximately $44,177,554.90. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Douglas A. Robinson sold 3,121 shares of the 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 completion of the transaction, the insider now owns 165,932 shares in the company, valued at approximately $48,749,162.28. The disclosure for this sale can be found here. In the last ninety days, insiders sold 435,691 shares of company stock worth $117,731,569. 20.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms recently issued reports on WDAY. StockNews.com lowered Workday from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 8th. Barclays decreased their price target on shares of Workday from $316.00 to $286.00 and set an “overweight” rating for the company in a report on Friday. Canaccord Genuity Group cut their price objective on shares of Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a research report on Friday. KeyCorp lowered their price target on Workday from $330.00 to $275.00 and set an “overweight” rating on the stock in a report on Friday. Finally, BMO Capital Markets reduced their price objective on shares of Workday from $338.00 to $300.00 and set an “outperform” rating for the company in a report on Friday. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the company. According to MarketBeat.com, Workday currently has an average rating of “Moderate Buy” and a consensus target price of $283.96.

Workday Trading Down 15.3 %

Workday stock traded down $39.99 during midday trading on Friday, reaching $220.91. The stock had a trading volume of 15,622,846 shares, compared to its average volume of 2,392,779. Workday, Inc. has a twelve month low of $192.68 and a twelve month high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a market cap of $58.32 billion, a price-to-earnings ratio of 39.80, a PEG ratio of 7.78 and a beta of 1.33. The firm’s fifty day simple moving average is $259.94 and its two-hundred day simple moving average is $268.90.

Workday (NASDAQ:WDAY) last issued its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping the consensus estimate of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a return on equity of 6.02% and a net margin of 19.66%. Workday’s revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm posted $0.16 earnings per share. Equities analysts anticipate that Workday, Inc. will post 1.76 EPS 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.