Northwest & Ethical Investments L.P. Sells 2,012 Shares of Workday, Inc. (NASDAQ:WDAY)

Northwest & Ethical Investments L.P. cut its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 8.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 21,456 shares of the software maker’s stock after selling 2,012 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Workday were worth $5,244,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. B. Riley Wealth Advisors Inc. increased its holdings in Workday by 27.7% during the 1st quarter. B. Riley Wealth Advisors Inc. now owns 2,417 shares of the software maker’s stock worth $659,000 after purchasing an additional 525 shares during the period. Comerica Bank increased its stake in shares of Workday by 13.2% during the first quarter. Comerica Bank now owns 42,664 shares of the software maker’s stock valued at $11,637,000 after buying an additional 4,977 shares during the period. Swedbank AB purchased a new stake in Workday in the first quarter worth about $21,906,000. Cetera Investment Advisers lifted its stake in Workday by 83.5% in the first quarter. Cetera Investment Advisers now owns 49,132 shares of the software maker’s stock worth $13,401,000 after acquiring an additional 22,351 shares during the period. Finally, Cetera Advisors LLC grew its holdings in Workday by 378.3% during the 1st quarter. Cetera Advisors LLC now owns 16,582 shares of the software maker’s stock worth $4,523,000 after acquiring an additional 13,115 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $253.40 on Friday. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The business’s 50 day moving average is $248.74 and its two-hundred day moving average is $237.44. The company has a market capitalization of $67.15 billion, a P/E ratio of 42.02, a P/E/G ratio of 5.03 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.21% and a net margin of 19.86%. The firm had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $0.47 EPS. The business’s revenue was up 15.8% on a year-over-year basis. Analysts expect that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction dated Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at $26,902,816.40. This represents a 39.23 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total transaction of $738,934.52. Following the completion of the transaction, the insider now directly owns 85,795 shares in the company, valued at $20,228,745.10. This represents a 3.52 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 359,954 shares of company stock worth $88,742,132. Company insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on WDAY shares. Bank of America lowered their price target on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research report on Wednesday. Citigroup dropped their target price on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Loop Capital reduced their price target on Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research report on Wednesday. Morgan Stanley upped their price objective on Workday from $315.00 to $330.00 and gave the stock an “overweight” rating in a research note on Wednesday. Finally, StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a research note on Thursday. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and twenty have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $288.14.

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.