Price T Rowe Associates Inc. MD Lowers Position in Workday, Inc. (NASDAQ:WDAY)

Price T Rowe Associates Inc. MD trimmed its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 3.5% in the 1st quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,311,242 shares of the software maker’s stock after selling 47,753 shares during the period. Price T Rowe Associates Inc. MD’s holdings in Workday were worth $357,642,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of Workday during the 4th quarter worth approximately $1,491,149,000. Vanguard Group Inc. raised its stake in Workday by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 14,448,125 shares of the software maker’s stock valued at $3,988,549,000 after purchasing an additional 437,215 shares in the last quarter. Kodai Capital Management LP purchased a new stake in Workday during the fourth quarter valued at $85,994,000. Sustainable Growth Advisers LP lifted its position in Workday by 9.7% during the first quarter. Sustainable Growth Advisers LP now owns 3,402,374 shares of the software maker’s stock valued at $927,998,000 after purchasing an additional 301,463 shares during the last quarter. Finally, Clearbridge Investments LLC grew its stake in shares of 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 buying an additional 281,207 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have recently issued reports on WDAY shares. Loop Capital decreased their target price on shares of Workday from $280.00 to $240.00 and set a “hold” rating on the stock in a research report on Friday, May 24th. StockNews.com downgraded Workday from a “strong-buy” rating to a “buy” rating in a research report on Monday, April 8th. Morgan Stanley dropped their target price on Workday from $330.00 to $325.00 and set an “overweight” rating for the company in a report on Friday, May 24th. BMO Capital Markets decreased their price target on Workday from $338.00 to $300.00 and set an “outperform” rating on the stock in a report on Friday, May 24th. Finally, Evercore ISI dropped their price objective on shares of Workday from $350.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $281.44.

Workday Stock Up 0.7 %

WDAY stock traded up $1.56 on Friday, hitting $228.64. 1,003,283 shares of the company’s stock were exchanged, compared to its average volume of 1,840,302. The firm has a 50 day moving average price of $223.16 and a two-hundred day moving average price of $257.01. The company has a debt-to-equity ratio of 0.37, a quick ratio of 2.00 and a current ratio of 2.00. Workday, Inc. has a 12-month low of $202.01 and a 12-month high of $311.28. The stock has a market cap of $60.59 billion, a P/E ratio of 41.20, a price-to-earnings-growth ratio of 5.76 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.31 by $0.20. The firm had revenue of $1.99 billion for the quarter, compared to the consensus estimate of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. The company’s revenue for the quarter was up 18.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.16 earnings per share. As a group, equities research analysts expect that Workday, Inc. will post 2.12 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction on Friday, July 12th. The shares were sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the completion of the sale, the insider now directly owns 562,000 shares in the company, valued at $128,877,840. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the completion of the sale, the insider now owns 562,000 shares of the company’s stock, valued at $128,877,840. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total transaction of $669,267.24. Following the transaction, the insider now directly owns 204,066 shares of the company’s stock, valued at $43,759,913.04. The disclosure for this sale can be found here. In the last quarter, insiders have sold 524,672 shares of company stock valued at $115,938,834. Insiders own 20.00% of the company’s stock.

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.