Workday, Inc. (NASDAQ:WDAY) Shares Sold by Brown Advisory Inc.

Brown Advisory Inc. lessened its holdings in shares of Workday, Inc. (NASDAQ:WDAYFree Report) by 3.8% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 110,635 shares of the software maker’s stock after selling 4,368 shares during the quarter. Brown Advisory Inc.’s holdings in Workday were worth $30,542,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Wellington Management Group LLP boosted its holdings in Workday by 37.4% in the 3rd quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after acquiring an additional 1,406,153 shares during the period. Winslow Capital Management LLC boosted its stake in shares of Workday by 76.4% during the 3rd quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock valued at $496,436,000 after buying an additional 1,000,922 shares during the last quarter. Morgan Stanley boosted its stake in shares of Workday by 47.0% during the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after buying an additional 872,288 shares during the last quarter. Alkeon Capital Management LLC purchased a new position in shares of Workday during the 3rd quarter valued at approximately $107,425,000. Finally, Invesco Ltd. boosted its stake in shares of Workday by 22.1% during the 3rd quarter. Invesco Ltd. now owns 1,802,209 shares of the software maker’s stock valued at $387,205,000 after buying an additional 326,283 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Trading Up 0.5 %

NASDAQ:WDAY opened at $257.93 on Monday. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 1-year low of $186.84 and a 1-year high of $311.28. The firm has a market capitalization of $68.09 billion, a price-to-earnings ratio of 50.08, a price-to-earnings-growth ratio of 7.69 and a beta of 1.33. The stock has a fifty day simple moving average of $261.70 and a 200 day simple moving average of $268.38.

Workday (NASDAQ:WDAYGet Free Report) last released its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share 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 quarter last year, the company posted ($0.14) EPS. Workday’s revenue for the quarter was up 16.8% on a year-over-year basis. Sell-side analysts forecast that Workday, Inc. will post 1.76 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on WDAY shares. Oppenheimer reduced their target price on Workday from $350.00 to $320.00 and set an “outperform” rating for the company in a research note on Wednesday, May 15th. Needham & Company LLC raised their price objective on Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. JMP Securities restated a “market outperform” rating and set a $315.00 price objective on shares of Workday in a research note on Tuesday, February 27th. Stifel Nicolaus raised their price objective on Workday from $250.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Finally, Morgan Stanley dropped their target price on Workday from $335.00 to $330.00 and set an “overweight” rating on the stock in a research 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 company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $296.64.

Check Out Our Latest Research Report on WDAY

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the completion of the sale, the insider now directly owns 843,000 shares in the company, valued at approximately $223,302,270. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other news, major shareholder David A. Duffield sold 65,221 shares of the firm’s stock in a transaction dated Monday, April 8th. The stock was sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $27,633,065.13. 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 56,000 shares of the business’s stock in a transaction that occurred on Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the sale, the insider now directly owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock worth $117,731,569 in the last quarter. 20.00% of the stock is owned by company insiders.

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 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.

Further Reading

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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