Workday, Inc. (NASDAQ:WDAY) Shares Sold by Fmr LLC

Fmr LLC reduced its position in Workday, Inc. (NASDAQ:WDAY) by 3.8% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,240,548 shares of the software maker’s stock after selling 126,493 shares during the period. Fmr LLC owned approximately 1.22% of Workday worth $792,022,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the company. The Manufacturers Life Insurance Company lifted its stake in shares of Workday by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after purchasing an additional 14,159 shares in the last quarter. Bank of Montreal Can lifted its stake in shares of Workday by 21.1% in the 3rd quarter. Bank of Montreal Can now owns 273,184 shares of the software maker’s stock valued at $66,553,000 after purchasing an additional 47,546 shares in the last quarter. Mirabella Financial Services LLP lifted its position in Workday by 65.6% during the 3rd quarter. Mirabella Financial Services LLP now owns 9,792 shares of the software maker’s stock worth $2,357,000 after acquiring an additional 3,878 shares in the last quarter. DRW Securities LLC acquired a new position in Workday during the 3rd quarter worth approximately $973,000. Finally, Independent Advisor Alliance lifted its position in Workday by 4.2% during the 3rd quarter. Independent Advisor Alliance now owns 1,604 shares of the software maker’s stock worth $392,000 after acquiring an additional 64 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Down 6.2 %

NASDAQ:WDAY opened at $253.40 on Thursday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The firm has a market capitalization of $67.15 billion, a P/E ratio of 44.15, a P/E/G ratio of 5.31 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The business has a 50 day simple moving average of $248.62 and a 200 day simple moving average of $237.33.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 5.34% and a net margin of 19.59%. The company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same quarter in the previous year, the firm posted $0.47 EPS. The firm’s quarterly revenue was up 15.8% on a year-over-year basis. Equities research analysts predict that Workday, Inc. will post 2.4 EPS for the current year.

Analyst Ratings Changes

Several research firms recently commented on WDAY. Bank of America reduced their price target on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday. The Goldman Sachs Group boosted their price target on Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, September 19th. Scotiabank began coverage on Workday in a research report on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. Morgan Stanley boosted their price target on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research report on Wednesday. Finally, Evercore ISI reduced their price target on Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. One research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $288.14.

Insiders Place Their Bets

In other news, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the sale, the director now owns 8,674 shares in the company, valued at $2,097,806.90. This represents a 17.41 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This trade represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 359,954 shares of company stock worth $88,742,132. 20.00% of the stock is owned by company 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.