Atria Investments Inc Has $9.78 Million Position in Workday, Inc. (NASDAQ:WDAY)

Key Points

• Atria Investments Inc reduced its position in Workday by 10.7%, now holding 41,885 shares valued at approximately $9.78 million.
• Insider selling activity includes major shareholder David A. Duffield selling 73,971 shares for over $17.6 million, resulting in a 41.8% reduction in his ownership stake.
• Analysts have recently downgraded their price targets for Workday, with consensus now at $296.88 and ratings spread across a range from "sell" to "strong buy."

Atria Investments Inc cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 10.7% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 41,885 shares of the software maker's stock after selling 5,018 shares during the quarter. Atria Investments Inc's holdings in Workday were worth $9,781,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also recently added to or reduced their stakes in WDAY. Cornerstone Planning Group LLC grew its position in Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after acquiring an additional 54 shares in the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in shares of Workday during the first quarter valued at about $32,000. Financial Management Professionals Inc. grew its stake in shares of Workday by 54.0% during the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after acquiring an additional 54 shares in the last quarter. Pinnacle Bancorp Inc. acquired a new stake in shares of Workday during the first quarter valued at about $40,000. Finally, BankPlus Trust Department acquired a new stake in Workday during the 1st quarter valued at approximately $40,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 73,971 shares of the stock in a transaction on Tuesday, June 24th. The stock was sold at an average price of $238.66, for a total transaction of $17,653,918.86. Following the completion of the transaction, the insider directly owned 102,997 shares in the company, valued at $24,581,264.02. This represents a 41.80% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the sale, the director owned 67,500 shares of the company's stock, valued at $16,767,675. This trade represents a 10.00% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 329,005 shares of company stock worth $79,203,523 in the last 90 days. 19.31% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

WDAY has been the subject of a number of recent analyst reports. Stifel Nicolaus lowered their price objective on Workday from $310.00 to $275.00 and set a "hold" rating for the company in a research note on Friday, May 23rd. Loop Capital decreased their price objective on shares of Workday from $285.00 to $250.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Wells Fargo & Company decreased their price objective on shares of Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a report on Tuesday, April 22nd. DA Davidson lifted their price target on Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a research note on Friday, May 23rd. Finally, Mizuho decreased their price target on Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a research note on Tuesday, April 15th. One analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Moderate Buy" and an average target price of $296.88.

Workday Stock Performance

Shares of WDAY traded up $4.54 during trading hours on Friday, reaching $241.74. 1,840,561 shares of the company traded hands, compared to its average volume of 2,143,465. The stock's fifty day moving average is $242.57 and its 200 day moving average is $246.73. The stock has a market cap of $64.54 billion, a P/E ratio of 133.56, a price-to-earnings-growth ratio of 3.59 and a beta of 1.21. The company has a debt-to-equity ratio of 0.33, a quick ratio of 2.07 and a current ratio of 2.07. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $2.01 by $0.22. Workday had a net margin of 5.60% and a return on equity of 8.00%. The company had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter in the prior year, the company posted $1.74 EPS. The business's revenue was up 12.6% on a year-over-year basis. Equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Workday Company Profile

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.