Raymond James Financial Services Advisors Inc. Sells 659 Shares of Workday Inc (NASDAQ:WDAY)

Raymond James Financial Services Advisors Inc. trimmed its stake in shares of Workday Inc (NASDAQ:WDAY) by 10.3% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,716 shares of the software maker’s stock after selling 659 shares during the quarter. Raymond James Financial Services Advisors Inc.’s holdings in Workday were worth $1,071,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently modified their holdings of the company. Quadrant Capital Group LLC grew its stake in Workday by 267.9% during the fourth quarter. Quadrant Capital Group LLC now owns 1,089 shares of the software maker’s stock worth $170,000 after purchasing an additional 793 shares during the period. Guggenheim Capital LLC grew its stake in Workday by 8.8% during the fourth quarter. Guggenheim Capital LLC now owns 42,468 shares of the software maker’s stock worth $6,984,000 after purchasing an additional 3,442 shares during the period. Sunbelt Securities Inc. acquired a new stake in Workday during the fourth quarter worth approximately $8,716,000. Verus Capital Partners LLC acquired a new stake in Workday during the fourth quarter worth approximately $33,000. Finally, Nuveen Asset Management LLC grew its stake in Workday by 4.2% during the fourth quarter. Nuveen Asset Management LLC now owns 501,877 shares of the software maker’s stock worth $82,533,000 after purchasing an additional 20,266 shares during the period. Institutional investors own 66.16% of the company’s stock.

A number of brokerages have commented on WDAY. Bank of America raised their price objective on Workday from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. Monness Crespi & Hardt raised their price objective on Workday from $195.00 to $215.00 and gave the company a “buy” rating in a research note on Thursday, May 28th. JPMorgan Chase & Co. raised their price objective on Workday from $175.00 to $190.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Morgan Stanley raised their price objective on Workday from $170.00 to $215.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Finally, Stifel Nicolaus raised their price objective on Workday from $174.00 to $190.00 and gave the company a “hold” rating in a research note on Thursday, May 28th. Two research analysts have rated the stock with a sell rating, fourteen have given a hold rating, sixteen have given a buy rating and two have assigned a strong buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $196.29.

In other Workday news, Director David A. Duffield sold 278,379 shares of the business’s stock in a transaction on Monday, June 1st. The stock was sold at an average price of $179.65, for a total value of $50,010,787.35. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Aneel Bhusri sold 88,339 shares of the business’s stock in a transaction on Monday, July 6th. The shares were sold at an average price of $192.73, for a total value of $17,025,575.47. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 494,860 shares of company stock worth $89,843,645. Corporate insiders own 26.51% of the company’s stock.

Shares of Workday stock opened at $180.92 on Friday. The business’s fifty day simple moving average is $185.52 and its 200 day simple moving average is $168.58. The firm has a market capitalization of $42.52 billion, a P/E ratio of -79.35 and a beta of 1.56. Workday Inc has a 12 month low of $107.75 and a 12 month high of $208.69. The company has a current ratio of 1.25, a quick ratio of 1.25 and a debt-to-equity ratio of 0.68.

Workday (NASDAQ:WDAY) last issued its earnings results on Wednesday, May 27th. The software maker reported $0.44 earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of $0.49 by ($0.05). The firm had revenue of $1.02 billion during the quarter, compared to the consensus estimate of $1 billion. Workday had a negative net margin of 13.68% and a negative return on equity of 14.70%. The business’s quarterly revenue was up 23.4% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.43 earnings per share. Analysts predict that Workday Inc will post -1.01 EPS for the current fiscal year.

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.

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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