Canandaigua National Bank & Trust Co. Sells 95 Shares of Workday, Inc. (NASDAQ:WDAY)

Canandaigua National Bank & Trust Co. lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 2.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 3,549 shares of the software maker’s stock after selling 95 shares during the period. Canandaigua National Bank & Trust Co.’s holdings in Workday were worth $916,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WDAY. Meeder Asset Management Inc. increased its stake in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the last quarter. Kingsview Wealth Management LLC boosted its holdings in shares of Workday by 0.9% in the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock worth $1,243,000 after purchasing an additional 43 shares in the last quarter. Opal Wealth Advisors LLC increased its position in shares of Workday by 5.2% during the 3rd quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker’s stock valued at $231,000 after purchasing an additional 47 shares during the last quarter. Mesirow Financial Investment Management Inc. raised its holdings in shares of Workday by 3.4% during the 2nd quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker’s stock valued at $324,000 after buying an additional 48 shares in the last quarter. Finally, Concord Wealth Partners lifted its position in Workday by 3.0% in the 3rd quarter. Concord Wealth Partners now owns 1,765 shares of the software maker’s stock worth $431,000 after buying an additional 51 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Price Performance

Shares of NASDAQ WDAY opened at $254.14 on Tuesday. The company has a 50 day simple moving average of $261.38 and a two-hundred day simple moving average of $245.16. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a market capitalization of $67.60 billion, a price-to-earnings ratio of 42.15, a P/E/G ratio of 5.04 and a beta of 1.34. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The business had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period in the previous year, the company posted $0.47 earnings per share. The company’s revenue for the quarter was up 15.8% compared to the same quarter last year. Analysts expect that Workday, Inc. will post 2.58 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, insider Sayan Chakraborty sold 5,498 shares of Workday stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the completion of the sale, the insider now owns 121,100 shares of the company’s stock, valued at approximately $30,369,458. This trade represents a 4.34 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder David A. Duffield sold 70,003 shares of the stock in a transaction on Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $25,872,846.40. This trade represents a 40.46 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 304,158 shares of company stock worth $78,650,975. 20.00% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the stock. Morgan Stanley lifted their price target on shares of Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 27th. Oppenheimer reiterated an “outperform” rating and issued a $300.00 target price on shares of Workday in a research report on Tuesday, December 3rd. Wells Fargo & Company upped their price target on shares of Workday from $300.00 to $330.00 and gave the company an “overweight” rating in a research report on Monday, December 9th. Piper Sandler reiterated a “neutral” rating and issued a $270.00 price objective (down previously from $285.00) on shares of Workday in a report on Wednesday, November 27th. Finally, The Goldman Sachs Group increased their target price on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, September 19th. Eight research analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $291.36.

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.