Cullen Frost Bankers Inc. lessened its stake in Workday, Inc. (NASDAQ:WDAY – Free Report) by 7.1% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 69,845 shares of the software maker’s stock after selling 5,314 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Workday were worth $15,001,000 at the end of the most recent reporting period.
A number of other large investors have also recently bought and sold shares of the company. Rakuten Securities Inc. bought a new position in shares of Workday in the second quarter worth about $25,000. Measured Wealth Private Client Group LLC acquired a new position in Workday during the 3rd quarter worth approximately $26,000. LRI Investments LLC acquired a new position in Workday during the 4th quarter worth approximately $29,000. JPL Wealth Management LLC bought a new position in Workday in the 3rd quarter valued at approximately $30,000. Finally, eCIO Inc. acquired a new stake in Workday in the fourth quarter valued at approximately $36,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.
Wall Street Analyst Weigh In
A number of equities research analysts recently weighed in on WDAY shares. Evercore lowered Workday from an “outperform” rating to an “in-line” rating and set a $160.00 price objective on the stock. in a research report on Wednesday, February 25th. Guggenheim reduced their price target on Workday from $285.00 to $275.00 and set a “buy” rating on the stock in a report on Wednesday, February 25th. Piper Sandler lowered their price objective on Workday from $200.00 to $135.00 and set a “neutral” rating for the company in a research note on Wednesday, February 25th. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday, February 25th. Finally, Royal Bank Of Canada cut their target price on shares of Workday from $220.00 to $180.00 and set an “outperform” rating on the stock in a research report on Wednesday, February 25th. Nineteen investment analysts have rated the stock with a Buy rating, thirteen have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average target price of $198.42.
Insider Activity at Workday
In other news, major shareholder David A. Duffield sold 107,500 shares of the company’s stock in a transaction that occurred on Tuesday, March 31st. The stock was sold at an average price of $129.76, for a total value of $13,949,200.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at $13,631,158.24. This represents a 50.58% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the sale, the insider directly owned 165,074 shares of the company’s stock, valued at approximately $21,193,850.86. This represents a 5.36% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. In the last ninety days, insiders have sold 989,814 shares of company stock worth $131,576,291. 18.64% of the stock is owned by insiders.
Workday Price Performance
Shares of WDAY opened at $126.61 on Thursday. The firm has a market cap of $32.54 billion, a PE ratio of 49.07, a price-to-earnings-growth ratio of 1.26 and a beta of 1.04. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $274.11. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. The business’s 50 day moving average price is $126.51 and its two-hundred day moving average price is $170.40.
Workday (NASDAQ:WDAY – Get Free Report) last issued its earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating the consensus estimate of $2.32 by $0.15. The company had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.The firm’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same period last year, the business posted $1.92 EPS. On average, equities analysts anticipate that Workday, Inc. will post 5.11 EPS for the current year.
Workday Profile
Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.
The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.
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