Cerity Partners LLC Has $19.29 Million Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Cerity Partners LLC cut its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.5% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 82,611 shares of the software maker's stock after selling 2,097 shares during the quarter. Cerity Partners LLC's holdings in Workday were worth $19,292,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of WDAY. Brighton Jones LLC increased its stake 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 acquiring an additional 2,792 shares during the last quarter. Bank Pictet & Cie Europe AG boosted its holdings in Workday by 24.0% in the fourth quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker's stock worth $793,000 after purchasing an additional 595 shares in the last quarter. Independent Advisor Alliance boosted its holdings in Workday by 60.8% in the fourth quarter. Independent Advisor Alliance now owns 2,579 shares of the software maker's stock worth $665,000 after purchasing an additional 975 shares in the last quarter. Moors & Cabot Inc. boosted its holdings in Workday by 42.6% in the fourth quarter. Moors & Cabot Inc. now owns 1,182 shares of the software maker's stock worth $305,000 after purchasing an additional 353 shares in the last quarter. Finally, Sequoia Financial Advisors LLC boosted its holdings in Workday by 24.7% in the fourth quarter. Sequoia Financial Advisors LLC now owns 3,193 shares of the software maker's stock worth $824,000 after purchasing an additional 632 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of equities research analysts recently issued reports on the stock. DA Davidson upped their price objective on shares of Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. Loop Capital decreased their price target 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. Jefferies Financial Group cut their price objective on shares of Workday from $350.00 to $325.00 and set a "buy" rating for the company in a research report on Monday, March 31st. Wall Street Zen raised shares of Workday from a "hold" rating to a "buy" rating in a research report on Sunday. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $315.00 price objective on shares of Workday in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have assigned a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat, Workday presently has an average rating of "Moderate Buy" and an average target price of $296.88.

Insider Activity

In other Workday news, CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction dated Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the sale, the chief financial officer directly owned 178,418 shares of the company's stock, valued at $42,747,168.62. The trade was a 3.25% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 72,551 shares of the business's stock in a transaction dated 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 sale, the insider directly owned 102,997 shares in the company, valued at $24,679,111.17. This trade represents a 41.33% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 329,005 shares of company stock worth $79,203,523. 19.31% of the stock is currently owned by company insiders.

Workday Stock Up 0.7%

WDAY traded up $1.53 during trading on Thursday, hitting $228.26. The company had a trading volume of 240,875 shares, compared to its average volume of 2,472,468. The company has a market capitalization of $60.94 billion, a PE ratio of 126.14, a PEG ratio of 3.40 and a beta of 1.21. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00. The firm's 50-day moving average price is $246.89 and its 200 day moving average price is $247.63. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33.

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

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.