Massachusetts Financial Services Co. MA Reduces Stock Position in Workday, Inc. (NASDAQ:WDAY)

Massachusetts Financial Services Co. MA lessened its holdings in Workday, Inc. (NASDAQ:WDAYFree Report) by 7.0% in the 3rd quarter, according to its most recent filing with the SEC. The firm owned 35,263 shares of the software maker’s stock after selling 2,643 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Workday were worth $7,576,000 at the end of the most recent quarter.

Several other hedge funds have also recently modified their holdings of WDAY. RB Capital Management LLC raised its stake in shares of Workday by 2.8% during the 1st quarter. RB Capital Management LLC now owns 2,763 shares of the software maker’s stock worth $662,000 after acquiring an additional 76 shares in the last quarter. Private Advisor Group LLC raised its stake in shares of Workday by 11.8% during the 1st quarter. Private Advisor Group LLC now owns 2,511 shares of the software maker’s stock worth $601,000 after acquiring an additional 265 shares in the last quarter. MetLife Investment Management LLC bought a new position in shares of Workday during the 1st quarter worth approximately $2,974,000. Yousif Capital Management LLC raised its stake in shares of Workday by 2.7% during the 1st quarter. Yousif Capital Management LLC now owns 2,813 shares of the software maker’s stock worth $674,000 after acquiring an additional 74 shares in the last quarter. Finally, Raymond James Trust N.A. increased its stake in Workday by 10.3% during the 1st quarter. Raymond James Trust N.A. now owns 3,391 shares of the software maker’s stock valued at $812,000 after purchasing an additional 316 shares in the last quarter. Hedge funds and other institutional investors own 68.46% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 108,333 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $276.88, for a total transaction of $29,995,241.04. Following the completion of the sale, the insider now directly owns 1,124,000 shares in the company, valued at $311,213,120. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, major shareholder David A. Duffield sold 108,333 shares of the firm’s stock in a transaction dated Monday, December 11th. The shares were sold at an average price of $276.88, for a total transaction of $29,995,241.04. Following the completion of the sale, the insider now directly owns 1,124,000 shares in the company, valued at $311,213,120. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Richard Harry Sauer sold 1,411 shares of the firm’s stock in a transaction dated Thursday, November 30th. The stock was sold at an average price of $267.03, for a total transaction of $376,779.33. Following the sale, the insider now owns 88,977 shares of the company’s stock, valued at $23,759,528.31. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 392,775 shares of company stock worth $107,780,173. Insiders own 21.09% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of research reports. Morgan Stanley increased their price objective on shares of Workday from $245.00 to $295.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 29th. KeyCorp reiterated an “overweight” rating and issued a $310.00 price objective on shares of Workday in a research note on Thursday, January 4th. Stifel Nicolaus increased their price objective on shares of Workday from $230.00 to $250.00 and gave the stock a “hold” rating in a research note on Wednesday, November 29th. Piper Sandler reiterated an “overweight” rating and issued a $330.00 price objective on shares of Workday in a research note on Wednesday, January 17th. Finally, Citigroup increased their price target on shares of Workday from $236.00 to $270.00 and gave the stock a “neutral” rating in a report on Wednesday, November 29th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-four have assigned a buy rating to the company. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $264.74.

View Our Latest Stock Analysis on WDAY

Workday Price Performance

Shares of NASDAQ WDAY opened at $304.89 on Monday. The firm has a 50-day simple moving average of $280.44 and a 200-day simple moving average of $247.31. The stock has a market capitalization of $80.19 billion, a price-to-earnings ratio of 1,270.38, a price-to-earnings-growth ratio of 6.29 and a beta of 1.35. The company has a quick ratio of 2.13, a current ratio of 2.13 and a debt-to-equity ratio of 0.45. Workday, Inc. has a 52 week low of $174.06 and a 52 week high of $308.95.

Workday (NASDAQ:WDAYGet Free Report) last issued its earnings results on Tuesday, November 28th. The software maker reported $1.53 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.12. The business had revenue of $1.87 billion during the quarter, compared to analysts’ expectations of $1.85 billion. Workday had a net margin of 0.95% and a return on equity of 3.87%. The company’s quarterly revenue was up 16.9% compared to the same quarter last year. During the same period in the prior year, the business earned $0.03 earnings per share. On average, equities analysts predict that Workday, Inc. will post 1.31 earnings per share for the current fiscal year.

About Workday

(Free Report)

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, and to manage their business and operations. The company offers a suite of financial management applications, which enable chief financial officers 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.

Further Reading

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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