Workday, Inc. (NASDAQ:WDAY) Shares Sold by Principal Securities Inc.

Principal Securities Inc. reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 24.7% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 1,620 shares of the software maker’s stock after selling 530 shares during the quarter. Principal Securities Inc.’s holdings in Workday were worth $418,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Janus Henderson Group PLC boosted its position in shares of Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares in the last quarter. State Street Corp boosted its position in shares of Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after purchasing an additional 67,380 shares during the period. Geode Capital Management LLC boosted its position in shares of Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after purchasing an additional 76,618 shares during the period. The Manufacturers Life Insurance Company boosted its position 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 during the period. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC boosted its position in shares of Workday by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after purchasing an additional 75,747 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages recently issued reports on WDAY. Royal Bank of Canada upped their target price on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, December 18th. Scotiabank began coverage on Workday in a research report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 target price for the company. Oppenheimer reissued an “outperform” rating and issued a $300.00 target price on shares of Workday in a research report on Tuesday, December 3rd. Deutsche Bank Aktiengesellschaft raised Workday from a “hold” rating to a “buy” rating and upped their target price for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Finally, JMP Securities reissued a “market outperform” rating and issued a $315.00 target price on shares of Workday in a research report on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $291.11.

Workday Stock Performance

Shares of WDAY stock opened at $256.39 on Friday. The stock has a fifty day moving average price of $260.75 and a 200 day moving average price of $253.16. The stock has a market cap of $68.20 billion, a PE ratio of 42.52, a P/E/G ratio of 3.55 and a beta of 1.35. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $311.28. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 earnings per share. Sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Buying and Selling

In other Workday news, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Sayan Chakraborty sold 5,498 shares of the firm’s stock in a transaction on Friday, November 29th. The stock was sold at an average price of $250.78, for a total value of $1,378,788.44. Following the transaction, the insider now directly owns 121,100 shares of the company’s stock, valued at $30,369,458. The trade was a 4.34 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 438,819 shares of company stock valued at $113,142,592. 20.00% of the stock is owned by 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.