Icon Wealth Advisors LLC Sells 326 Shares of Workday, Inc. (NASDAQ:WDAY)

Icon Wealth Advisors LLC decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 2.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 11,919 shares of the software maker’s stock after selling 326 shares during the period. Icon Wealth Advisors LLC’s holdings in Workday were worth $2,913,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. The Manufacturers Life Insurance Company increased its position in shares of Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after acquiring an additional 14,159 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its holdings in Workday by 4.0% in the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after purchasing an additional 75,747 shares during the last quarter. Legal & General Group Plc lifted its stake in shares of Workday by 7.4% during 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 buying an additional 118,180 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in shares of Workday by 15.2% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,167,131 shares of the software maker’s stock valued at $260,924,000 after buying an additional 153,577 shares in the last quarter. Finally, Van ECK Associates Corp lifted its stake in shares of Workday by 0.4% during the 3rd quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock valued at $226,266,000 after buying an additional 4,127 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Trading Down 6.2 %

Shares of Workday stock opened at $253.40 on Friday. The company has a fifty day simple moving average of $248.74 and a 200-day simple moving average of $237.44. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock has a market cap of $67.15 billion, a price-to-earnings ratio of 42.02, a PEG ratio of 5.03 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its earnings results 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. Workday had a net margin of 19.86% and a return on equity of 6.21%. The business had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the prior year, the business posted $0.47 EPS. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. On average, equities analysts forecast that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on WDAY shares. Evercore ISI reduced their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a report on Tuesday, August 20th. Citigroup reduced their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. StockNews.com downgraded shares of Workday from a “buy” rating to a “hold” rating in a research note on Thursday. Loop Capital dropped their target price on shares of Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research note on Wednesday. Finally, Bank of America dropped their target price on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research note on Wednesday. One analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $288.14.

Insider Activity at Workday

In related news, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares in the company, valued at $2,097,806.90. This represents a 17.41 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Richard Harry Sauer sold 3,134 shares of the company’s stock in a transaction on Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total transaction of $738,934.52. Following the transaction, the insider now owns 85,795 shares of the company’s stock, valued at approximately $20,228,745.10. The trade was a 3.52 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 359,954 shares of company stock worth $88,742,132 in the last 90 days. 20.00% of the stock is owned by insiders.

About Workday

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.