Advocacy Wealth Management LLC Lowers Position in Workday, Inc. $WDAY

Advocacy Wealth Management LLC lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 17.8% during the 4th quarter, HoldingsChannel reports. The firm owned 23,463 shares of the software maker’s stock after selling 5,074 shares during the period. Advocacy Wealth Management LLC’s holdings in Workday were worth $5,039,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in WDAY. Brighton Jones LLC grew its holdings in shares of Workday by 230.2% in the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after purchasing an additional 2,792 shares during the last quarter. Empowered Funds LLC increased its holdings in Workday by 12.1% in the 1st quarter. Empowered Funds LLC now owns 11,142 shares of the software maker’s stock worth $2,602,000 after buying an additional 1,206 shares during the period. Geneos Wealth Management Inc. increased its holdings in Workday by 211.7% in the 1st quarter. Geneos Wealth Management Inc. now owns 187 shares of the software maker’s stock worth $44,000 after buying an additional 127 shares during the period. Sivia Capital Partners LLC acquired a new position in Workday in the 2nd quarter worth approximately $281,000. Finally, NewEdge Advisors LLC increased its holdings in Workday by 32.0% in the 2nd quarter. NewEdge Advisors LLC now owns 6,597 shares of the software maker’s stock worth $1,583,000 after buying an additional 1,600 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Down 0.4%

NASDAQ WDAY opened at $143.76 on Tuesday. Workday, Inc. has a 52 week low of $110.36 and a 52 week high of $257.09. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. The business’s fifty day simple moving average is $127.56 and its 200-day simple moving average is $162.04. The firm has a market cap of $35.51 billion, a PE ratio of 44.93, a P/E/G ratio of 1.52 and a beta of 1.09.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 EPS for the quarter, topping the consensus estimate of $2.51 by $0.15. The business had revenue of $2.54 billion for the quarter, compared to analyst estimates of $2.52 billion. Workday had a return on equity of 14.75% and a net margin of 8.60%.The company’s quarterly revenue was up 13.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.23 EPS. As a group, equities analysts anticipate that Workday, Inc. will post 5.41 earnings per share for the current year.

Analysts Set New Price Targets

Several brokerages recently weighed in on WDAY. Wolfe Research reiterated an “outperform” rating and issued a $160.00 price target on shares of Workday in a report on Friday, May 22nd. Evercore cut shares of Workday from an “outperform” rating to an “in-line” rating and set a $160.00 price objective on the stock. in a research note on Wednesday, February 25th. Piper Sandler raised their price objective on shares of Workday from $135.00 to $145.00 and gave the stock a “neutral” rating in a research note on Friday, May 22nd. Deutsche Bank Aktiengesellschaft dropped their price objective on shares of Workday from $265.00 to $190.00 and set a “buy” rating on the stock in a research note on Wednesday, February 18th. Finally, William Blair raised shares of Workday to a “strong-buy” rating in a research note on Friday, May 22nd. One research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $185.03.

Insider Activity

In related news, insider Robert Enslin sold 5,373 shares of the firm’s stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $129.41, for a total transaction of $695,319.93. Following the completion of the sale, the insider directly owned 165,414 shares of the company’s stock, valued at approximately $21,406,225.74. This trade represents a 3.15% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 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. Also, insider Gerrit S. Kazmaier sold 9,356 shares of Workday stock in a transaction dated 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 completion of the transaction, 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 sold 774,814 shares of company stock worth $102,101,941. 18.64% of the stock is currently owned by corporate insiders.

About Workday

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.