Victory Capital Management Inc. Sells 22,736 Shares of Workday, Inc. (NASDAQ:WDAY)

Victory Capital Management Inc. trimmed its position in Workday, Inc. (NASDAQ:WDAY) by 6.7% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 314,902 shares of the software maker’s stock after selling 22,736 shares during the quarter. Victory Capital Management Inc. owned about 0.12% of Workday worth $86,932,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in WDAY. Beacon Capital Management LLC raised its holdings in shares of Workday by 333.3% during the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after acquiring an additional 70 shares in the last quarter. VisionPoint Advisory Group LLC increased its position in Workday by 215.4% in the third quarter. VisionPoint Advisory Group LLC now owns 123 shares of the software maker’s stock worth $26,000 after purchasing an additional 84 shares during the last quarter. Clear Street Markets LLC purchased a new stake in Workday during the third quarter valued at $29,000. Exchange Traded Concepts LLC lifted its position in Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock valued at $31,000 after purchasing an additional 105 shares during the last quarter. Finally, CVA Family Office LLC purchased a new position in shares of Workday in the 4th quarter worth $33,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wells Fargo & Company upped their target price on shares of Workday from $300.00 to $350.00 and gave the company an “overweight” rating in a research report on Tuesday, February 20th. DA Davidson reiterated a “neutral” rating and issued a $300.00 target price on shares of Workday in a report on Tuesday, February 27th. Morgan Stanley decreased their price target on Workday from $335.00 to $330.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. JMP Securities reaffirmed a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Tuesday, February 27th. Finally, Citigroup increased their target price on shares of Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the company’s stock. According to data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and an average target price of $293.61.

Workday Trading Up 2.0 %

Shares of NASDAQ:WDAY opened at $255.78 on Friday. The company has a market capitalization of $67.53 billion, a PE ratio of 49.67, a P/E/G ratio of 6.27 and a beta of 1.33. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 12-month low of $174.25 and a 12-month high of $311.28. The business’s fifty day simple moving average is $269.08 and its 200-day simple moving average is $264.57.

Workday (NASDAQ:WDAY) last posted its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.47 by $0.10. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm’s quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned ($0.14) earnings per share. As a group, equities research analysts predict that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 64,329 shares of the firm’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $27,690,743.45. The sale was disclosed in a legal filing with the SEC, which is available through this hyperlink. In related news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total value of $916,918.59. Following the completion of the sale, the insider now directly owns 165,932 shares in the company, valued at approximately $48,749,162.28. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 64,329 shares of the company’s stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. Insiders sold a total of 435,691 shares of company stock worth $117,731,569 in the last 90 days. 21.09% of the stock is owned by corporate 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.