FORA Capital LLC Lowers Stock Position in Workday, Inc. (NASDAQ:WDAY)

FORA Capital LLC lowered its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 95.2% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 963 shares of the software maker’s stock after selling 19,084 shares during the period. FORA Capital LLC’s holdings in Workday were worth $235,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the business. ORG Partners LLC increased its stake in Workday by 3,717.9% in the 2nd quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after buying an additional 3,123 shares during the period. Grafton Street Partners Fund LP purchased a new position in Workday during the third quarter worth about $4,424,000. ICICI Prudential Asset Management Co Ltd lifted its position in Workday by 32.4% in the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after purchasing an additional 7,802 shares during the period. Legal & General Group Plc boosted its holdings in Workday by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares in the last quarter. Finally, Atria Investments Inc boosted its holdings in Workday by 19.3% in the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after purchasing an additional 7,175 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts recently commented on WDAY shares. Bank of America reduced their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday. Deutsche Bank Aktiengesellschaft boosted their price target on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Scotiabank assumed coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective for the company. Needham & Company LLC reiterated a “buy” rating and set a $300.00 target price on shares of Workday in a research report on Monday, November 25th. Finally, Canaccord Genuity Group restated a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Friday, September 13th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $288.14.

Insiders Place Their Bets

In related news, insider Richard Harry Sauer sold 3,134 shares of the stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the sale, the insider now directly owns 85,795 shares in the company, valued at approximately $20,228,745.10. This represents a 3.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction dated Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 359,954 shares of company stock worth $88,742,132 over the last three months. 20.00% of the stock is owned by insiders.

Workday Stock Performance

Shares of WDAY stock opened at $249.99 on Friday. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market capitalization of $66.25 billion, a price-to-earnings ratio of 41.46, a price-to-earnings-growth ratio of 5.03 and a beta of 1.35. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The company has a 50 day moving average price of $248.77 and a 200 day moving average price of $237.46.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.21%. The business’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the previous year, the company earned $0.47 EPS. Sell-side analysts anticipate that Workday, Inc. will post 2.4 EPS for the current year.

Workday 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.