Workday, Inc. (NASDAQ:WDAY) Shares Sold by Swiss National Bank

Swiss National Bank trimmed its position in Workday, Inc. (NASDAQ:WDAY) by 4.4% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 601,700 shares of the software maker’s stock after selling 27,500 shares during the quarter. Swiss National Bank owned about 0.23% of Workday worth $155,257,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in WDAY. Principal Financial Group Inc. grew its position in Workday by 45.0% in the third quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker’s stock worth $4,349,000 after acquiring an additional 5,519 shares during the period. Sigma Planning Corp purchased a new position in shares of Workday during the 3rd quarter worth $233,000. GSA Capital Partners LLP increased its position in shares of Workday by 129.6% during the 3rd quarter. GSA Capital Partners LLP now owns 3,196 shares of the software maker’s stock worth $781,000 after purchasing an additional 1,804 shares during the last quarter. OVERSEA CHINESE BANKING Corp Ltd increased its position in shares of Workday by 37.9% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 3,392 shares of the software maker’s stock worth $832,000 after purchasing an additional 932 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its holdings in Workday by 1.6% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 535,222 shares of the software maker’s stock valued at $130,814,000 after buying an additional 8,317 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have weighed in on the stock. Citigroup dropped their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. The Goldman Sachs Group lifted their target price on shares of Workday from $310.00 to $345.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Morgan Stanley cut Workday from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. Bank of America dropped their price objective on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Finally, Stifel Nicolaus increased their target price on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $302.14.

Workday Price Performance

Shares of WDAY opened at $237.22 on Friday. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The stock has a market cap of $63.10 billion, a PE ratio of 39.34, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The firm has a fifty day moving average price of $257.09 and a 200 day moving average price of $255.67.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, sell-side analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Insider Transactions at Workday

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now owns 6,845 shares of the company’s stock, valued at $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the sale, the insider now directly owns 60,000 shares of the company’s stock, valued at approximately $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 435,829 shares of company stock worth $113,033,319. 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.