Diversify Advisory Services LLC Reduces Holdings in Workday, Inc. (NASDAQ:WDAY)

Diversify Advisory Services LLC decreased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 58.3% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,693 shares of the software maker's stock after selling 6,570 shares during the period. Diversify Advisory Services LLC's holdings in Workday were worth $1,142,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently made changes to their positions in WDAY. Vanguard Group Inc. increased its holdings in Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after buying an additional 4,517,272 shares during the period. T. Rowe Price Investment Management Inc. acquired a new stake in shares of Workday during the 4th quarter worth approximately $658,735,000. Norges Bank acquired a new stake in shares of Workday during the 4th quarter worth approximately $645,710,000. Geode Capital Management LLC grew its stake in shares of Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after purchasing an additional 1,772,223 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in shares of Workday by 60.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock worth $960,454,000 after purchasing an additional 1,406,088 shares during the period. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Up 0.9%

Shares of WDAY stock traded up $2.17 during midday trading on Friday, reaching $233.06. 2,597,839 shares of the stock were exchanged, compared to its average volume of 2,484,041. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. The firm has a market cap of $62.23 billion, a PE ratio of 128.76, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21. The company's 50 day moving average is $245.83 and its two-hundred day moving average is $247.16. 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 issued its earnings results on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating the consensus estimate of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%. The business had revenue of $2.24 billion for the quarter, compared to the consensus estimate of $2.22 billion. During the same period last year, the business posted $1.74 EPS. The company's revenue was up 12.6% compared to the same quarter last year. On average, equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 72,551 shares of the company's stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total transaction of $17,383,945.11. Following the transaction, the insider directly owned 102,997 shares of the company's stock, valued at approximately $24,679,111.17. This represents a 41.33% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 451 shares of the business's stock in a transaction on Thursday, July 10th. The shares were sold at an average price of $234.86, for a total transaction of $105,921.86. Following the sale, the chief accounting officer directly owned 42,977 shares in the company, valued at $10,093,578.22. This trade represents a 1.04% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 329,005 shares of company stock valued at $79,203,523. 19.31% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of recent research reports. Westpark Capital boosted their target price on Workday from $315.00 to $328.00 and gave the company a "buy" rating in a report on Friday, May 23rd. DA Davidson lifted their price objective on Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Jefferies Financial Group reduced their price objective on Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Loop Capital dropped their target price on Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a report on Friday, May 23rd. Finally, Mizuho dropped their price objective on Workday from $320.00 to $275.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating, nineteen have given a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and an average price target of $296.88.

Workday 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.