Verdence Capital Advisors LLC Sells 3,333 Shares of Workday, Inc. (NASDAQ:WDAY)

Verdence Capital Advisors LLC lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 43.5% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 4,336 shares of the software maker's stock after selling 3,333 shares during the period. Verdence Capital Advisors LLC's holdings in Workday were worth $1,013,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. Cornerstone Planning Group LLC grew its stake in Workday by 76.1% during the 1st quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock worth $28,000 after buying an additional 54 shares during the last quarter. Farmers & Merchants Investments Inc. acquired a new stake in Workday during the 1st quarter worth about $32,000. Financial Management Professionals Inc. grew its position in Workday by 54.0% during the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after purchasing an additional 54 shares during the period. Pinnacle Bancorp Inc. acquired a new stake in shares of Workday during the 1st quarter valued at about $40,000. Finally, BankPlus Trust Department acquired a new stake in shares of Workday during the 1st quarter valued at about $40,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Wall Street Analyst Weigh In

Several analysts have recently commented on WDAY shares. Wells Fargo & Company reduced their price target on shares of Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a research report on Tuesday, April 22nd. Citigroup cut shares of Workday from a "neutral" rating to a "mixed" rating in a report on Friday, May 16th. Oppenheimer lowered their price target on shares of Workday from $320.00 to $300.00 and set an "outperform" rating on the stock in a research report on Friday, May 23rd. DA Davidson raised their target price on shares of Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research note on Friday, May 23rd. Finally, JPMorgan Chase & Co. decreased their price target on shares of Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a report on Friday, May 23rd. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Workday currently has a consensus rating of "Moderate Buy" and an average target price of $296.88.

Workday Stock Performance

Shares of Workday stock traded up $2.17 on Friday, reaching $233.06. The stock had a trading volume of 2,597,839 shares, compared to its average volume of 2,484,041. The business's 50-day moving average price is $245.83 and its two-hundred day moving average price is $247.16. 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 fifty-two week low of $199.81 and a fifty-two week high of $294.00. The stock has a market cap of $62.23 billion, a P/E ratio of 128.76, a price-to-earnings-growth ratio of 3.52 and a beta of 1.21.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. The firm had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a net margin of 5.60% and a return on equity of 8.00%. The company's revenue was up 12.6% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.74 EPS. On average, sell-side analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the business's stock in a transaction dated Thursday, June 5th. The stock was sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the transaction, the director owned 67,500 shares of the company's stock, valued at $16,767,675. The trade was a 10.00% 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. Also, CAO Mark S. Garfield sold 451 shares of the business's stock in a transaction dated Thursday, July 10th. The stock was sold at an average price of $234.86, for a total value of $105,921.86. Following the transaction, the chief accounting officer directly owned 42,977 shares of the company's stock, valued at approximately $10,093,578.22. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 329,005 shares of company stock valued at $79,203,523. 19.31% of the stock is currently 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.