Workday, Inc. (NASDAQ:WDAY) Shares Sold by Schroder Investment Management Group

Schroder Investment Management Group reduced its holdings in Workday, Inc. (NASDAQ:WDAY) by 5.2% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 29,680 shares of the software maker’s stock after selling 1,615 shares during the quarter. Schroder Investment Management Group’s holdings in Workday were worth $7,658,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the business. Vanguard Group Inc. increased its holdings in shares of Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. State Street Corp increased its stake in Workday by 1.4% during 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 buying an additional 67,380 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after acquiring an additional 76,618 shares in the last quarter. Norges Bank bought a new position in shares of Workday in the fourth quarter valued at approximately $645,710,000. Finally, Parnassus Investments LLC increased its stake in shares of Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after acquiring an additional 2,078,097 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on WDAY shares. BMO Capital Markets upped their target price on Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Piper Sandler lifted their target price on Workday from $270.00 to $290.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Morgan Stanley cut shares of Workday from an “overweight” rating to an “equal weight” rating and dropped their price target for the stock from $330.00 to $275.00 in a research report on Wednesday, February 19th. Redburn Atlantic began coverage on shares of Workday in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, Daiwa America upgraded shares of Workday to a “strong-buy” rating in a report on Tuesday, March 4th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $300.18.

Workday Price Performance

WDAY opened at $217.14 on Friday. The stock has a fifty day moving average price of $254.30 and a 200 day moving average price of $254.04. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The stock has a market cap of $57.76 billion, a price-to-earnings ratio of 36.01, a PEG ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results 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). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the business’s stock in a transaction dated Thursday, March 13th. The stock was sold at an average price of $241.33, for a total value of $1,809,975.00. Following the completion of the sale, the director now owns 75,000 shares of the company’s stock, valued at $18,099,750. The trade was a 9.09 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the transaction, the chief executive officer now directly owns 10,847 shares in the company, valued at approximately $2,544,814.67. This represents a 22.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 432,441 shares of company stock valued at $108,901,692 over the last ninety days. Corporate insiders own 20.00% of the company’s stock.

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.