Fisher Asset Management LLC Reduces Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Fisher Asset Management LLC cut its holdings in Workday, Inc. (NASDAQ:WDAY) by 14.6% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The fund owned 60,556 shares of the software maker’s stock after selling 10,394 shares during the quarter. Fisher Asset Management LLC’s holdings in Workday were worth $16,717,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Vanguard Group Inc. raised its position in shares of Workday by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker’s stock valued at $3,010,244,000 after purchasing an additional 263,994 shares during the last quarter. Wellington Management Group LLP lifted its stake in shares of Workday by 37.4% during the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after buying an additional 1,406,153 shares during the period. Polen Capital Management LLC grew its holdings in shares of Workday by 2.0% during the third quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker’s stock valued at $848,726,000 after buying an additional 78,352 shares during the last quarter. Morgan Stanley increased its position in shares of Workday by 47.0% in the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after acquiring an additional 872,288 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position in shares of Workday by 8.5% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,629,780 shares of the software maker’s stock valued at $564,976,000 after acquiring an additional 206,112 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Up 2.0 %

Shares of NASDAQ WDAY opened at $255.78 on Monday. The stock has a market cap of $67.53 billion, a PE ratio of 49.67, a P/E/G ratio of 6.39 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 company has a 50-day moving average of $268.07 and a 200 day moving average of $265.53.

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

Insider Buying and Selling at Workday

In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the firm’s stock in a transaction on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the sale, the insider now owns 165,932 shares of the company’s stock, valued at $48,749,162.28. The transaction 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 the stock in a transaction that occurred on Wednesday, February 28th. The shares were sold at an average price of $293.79, for a total transaction of $916,918.59. Following the completion of the transaction, the insider now owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the completion of the sale, the director now owns 105,000 shares of the company’s stock, valued at approximately $28,404,600. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock worth $117,731,569 in the last ninety days. 21.09% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on WDAY shares. Evercore ISI boosted their price target on Workday from $310.00 to $350.00 and gave the company an “outperform” rating in a research note on Tuesday, February 20th. The Goldman Sachs Group increased their price target on shares of Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a report on Tuesday, February 27th. Barclays dropped their price objective on shares of Workday from $326.00 to $316.00 and set an “overweight” rating on the stock in a report on Tuesday, February 27th. Stifel Nicolaus raised their target price on shares of Workday from $250.00 to $290.00 and gave the stock a “hold” rating in a report on Tuesday, February 27th. Finally, Mizuho upped their price target on shares of Workday from $290.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and an average price target of $293.61.

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.