Workday, Inc. (NASDAQ:WDAY) Shares Sold by Swiss National Bank

Swiss National Bank reduced its position in shares of Workday, Inc. (NASDAQ:WDAY) by 4.4% in the 4th quarter, HoldingsChannel reports. The firm owned 601,700 shares of the software maker’s stock after selling 27,500 shares during the period. Swiss National Bank’s holdings in Workday were worth $155,257,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Rakuten Securities Inc. raised its stake in shares of Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock worth $39,000 after buying an additional 66 shares in the last quarter. Avantax Advisory Services Inc. grew its holdings in Workday by 18.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 19,698 shares of the software maker’s stock worth $5,083,000 after acquiring an additional 3,106 shares during the period. Essential Planning LLC. grew its holdings in Workday by 6,331.6% during the fourth quarter. Essential Planning LLC. now owns 112,488 shares of the software maker’s stock worth $28,718,000 after acquiring an additional 110,739 shares during the period. Securian Asset Management Inc. purchased a new position in Workday in the fourth quarter worth $2,963,000. Finally, EverSource Wealth Advisors LLC lifted its holdings in Workday by 8.0% in the fourth quarter. EverSource Wealth Advisors LLC now owns 972 shares of the software maker’s stock valued at $251,000 after acquiring an additional 72 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 66,455 shares of Workday stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the sale, the insider now owns 102,997 shares in the company, valued at $26,729,781.44. This trade represents a 39.22 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the business’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 transaction, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 435,829 shares of company stock worth $113,033,319 over the last quarter. 20.00% of the stock is owned by corporate insiders.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $237.22 on Friday. The business has a 50-day moving average of $257.09 and a two-hundred day moving average of $255.67. The firm has a market capitalization of $63.10 billion, a PE ratio of 39.34, a P/E/G ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. As a group, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Analysts Set New Price Targets

A number of research firms recently commented on WDAY. Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and decreased their price objective for the stock from $330.00 to $275.00 in a report on Wednesday, February 19th. BNP Paribas raised Workday to a “strong-buy” rating in a research note on Friday, February 14th. Canaccord Genuity Group raised their price objective on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. Barclays decreased their target price on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Finally, JMP Securities reissued a “market outperform” rating and issued a $315.00 target price on shares of Workday in a report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $302.14.

Workday 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.