Icon Wealth Advisors LLC Sells 5,013 Shares of Workday, Inc. $WDAY

Icon Wealth Advisors LLC reduced its position in Workday, Inc. (NASDAQ:WDAY) by 80.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 1,221 shares of the software maker’s stock after selling 5,013 shares during the quarter. Icon Wealth Advisors LLC’s holdings in Workday were worth $262,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. boosted its position in shares of Workday by 14.7% during the fourth quarter. Vanguard Group Inc. now owns 25,009,288 shares of the software maker’s stock worth $5,371,495,000 after acquiring an additional 3,210,232 shares during the last quarter. State Street Corp boosted its position in shares of Workday by 1.0% during the fourth quarter. State Street Corp now owns 9,770,707 shares of the software maker’s stock worth $2,098,552,000 after acquiring an additional 96,139 shares during the last quarter. Hotchkis & Wiley Capital Management LLC boosted its position in shares of Workday by 47.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after acquiring an additional 1,882,391 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of Workday by 1.5% during the fourth quarter. Geode Capital Management LLC now owns 5,091,926 shares of the software maker’s stock worth $1,089,970,000 after acquiring an additional 75,922 shares during the last quarter. Finally, First Eagle Investment Management LLC boosted its position in shares of Workday by 87.8% during the fourth quarter. First Eagle Investment Management LLC now owns 4,338,773 shares of the software maker’s stock worth $931,882,000 after acquiring an additional 2,028,085 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Activity at Workday

In related news, insider Gerrit S. Kazmaier sold 9,356 shares of the company’s stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the sale, the insider owned 165,074 shares of the company’s stock, valued at $21,193,850.86. This represents a 5.36% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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, CAO Mark S. Garfield sold 1,585 shares of the company’s stock in a transaction on Friday, April 10th. The shares were sold at an average price of $113.05, for a total transaction of $179,184.25. Following the sale, the chief accounting officer directly owned 31,467 shares in the company, valued at approximately $3,557,344.35. The trade was a 4.80% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 882,314 shares of company stock valued at $116,525,216 over the last quarter. 18.64% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Summit Redstone set a $275.00 target price on shares of Workday in a research report on Wednesday, May 27th. Jefferies Financial Group upped their target price on shares of Workday from $115.00 to $140.00 and gave the stock a “hold” rating in a research report on Friday, May 22nd. Morgan Stanley dropped their target price on shares of Workday from $280.00 to $200.00 and set an “equal weight” rating for the company in a research report on Monday, February 23rd. Sanford C. Bernstein restated an “outperform” rating and set a $216.00 target price on shares of Workday in a research report on Friday, May 22nd. Finally, TD Cowen restated a “hold” rating on shares of Workday in a research report on Friday, May 22nd. One equities research analyst has rated the stock with a Strong Buy rating, eighteen have assigned a Buy rating, fifteen have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average price target of $185.03.

Workday Price Performance

Workday stock opened at $129.60 on Tuesday. The company has a market cap of $32.01 billion, a price-to-earnings ratio of 40.50, a PEG ratio of 1.39 and a beta of 1.09. The firm’s fifty day moving average is $128.05 and its 200 day moving average is $158.82. The company has a quick ratio of 1.01, a current ratio of 1.01 and a debt-to-equity ratio of 0.30. Workday, Inc. has a 52-week low of $110.36 and a 52-week high of $249.85.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Thursday, May 21st. The software maker reported $2.66 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.51 by $0.15. The company had revenue of $2.54 billion for the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 8.60% and a return on equity of 14.75%. Workday’s revenue was up 13.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.23 earnings per share. Sell-side analysts forecast that Workday, Inc. will post 5.4 EPS for the current fiscal 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.