Crossmark Global Holdings Inc. Sells 704 Shares of Workday, Inc. (NASDAQ:WDAY)

Crossmark Global Holdings Inc. reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 18.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,116 shares of the software maker’s stock after selling 704 shares during the quarter. Crossmark Global Holdings Inc.’s holdings in Workday were worth $761,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. raised its holdings in Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after buying an additional 324,540 shares during the last quarter. Clearbridge Investments LLC raised its holdings in Workday by 12.4% in the 1st quarter. Clearbridge Investments LLC now owns 2,542,189 shares of the software maker’s stock worth $693,382,000 after acquiring an additional 281,207 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Workday by 79.1% in the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after acquiring an additional 1,016,394 shares in the last quarter. Legal & General Group Plc boosted its stake in Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares during the last quarter. Finally, Meritage Group LP increased its holdings in shares of Workday by 27.5% in the 1st quarter. Meritage Group LP now owns 1,277,359 shares of the software maker’s stock worth $348,400,000 after purchasing an additional 275,883 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ:WDAY opened at $259.41 on Friday. The stock has a 50-day moving average price of $246.64 and a 200 day moving average price of $236.52. The stock has a market capitalization of $68.74 billion, a P/E ratio of 46.07, a P/E/G ratio of 5.49 and a beta of 1.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.10. The firm had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. During the same quarter last year, the business posted $0.40 earnings per share. Equities research analysts forecast that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the sale, the director now owns 97,500 shares in the company, valued at $25,381,200. This represents a 7.14 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 370,575 shares of company stock valued at $91,506,897 in the last 90 days. Insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the company. Barclays increased their price objective on Workday from $286.00 to $289.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Piper Sandler reiterated an “overweight” rating and issued a $285.00 price target on shares of Workday in a research note on Wednesday, September 18th. Needham & Company LLC lowered their price objective on shares of Workday from $350.00 to $300.00 and set a “buy” rating on the stock in a research report on Wednesday, September 18th. Citigroup cut their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Finally, DA Davidson increased their price target on Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a report on Friday, August 23rd. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the stock. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $287.59.

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.