Workday, Inc. (NASDAQ:WDAY) Shares Sold by Norden Group LLC

Norden Group LLC cut its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 14.0% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 4,571 shares of the software maker’s stock after selling 743 shares during the quarter. Norden Group LLC’s holdings in Workday were worth $1,262,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Wellington Management Group LLP grew its holdings in Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock valued at $1,109,348,000 after purchasing an additional 1,406,153 shares during the period. Winslow Capital Management LLC increased its holdings in shares of Workday by 76.4% in 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 acquiring an additional 1,000,922 shares during the last quarter. Morgan Stanley raised its holdings in shares of Workday by 47.0% during the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after purchasing an additional 872,288 shares during the period. Alkeon Capital Management LLC bought a new position in Workday in the third quarter worth about $107,425,000. Finally, Invesco Ltd. increased its holdings in shares of Workday by 22.1% in the 3rd quarter. Invesco Ltd. now owns 1,802,209 shares of the software maker’s stock worth $387,205,000 after acquiring an additional 326,283 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at Workday

In other Workday news, Director George J. Still, Jr. sold 5,000 shares of the firm’s stock in a transaction on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total value of $1,352,600.00. Following the completion of the sale, the director now directly owns 105,000 shares in the company, valued at $28,404,600. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director George J. Still, Jr. sold 5,000 shares of Workday stock in a transaction on Tuesday, March 12th. The stock was sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the sale, the director now directly owns 105,000 shares in the company, valued at approximately $28,404,600. 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 8,447 shares of Workday stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the completion of the sale, the insider now directly owns 66,356 shares in the company, valued at approximately $17,797,342.76. The disclosure for this sale can be found here. Insiders sold 435,691 shares of company stock worth $117,731,569 over the last ninety days. 21.09% of the stock is owned by insiders.

Analysts Set New Price Targets

WDAY has been the subject of a number of analyst reports. Morgan Stanley reduced their price objective on shares of Workday from $335.00 to $330.00 and set an “overweight” rating for the company in a research note on Tuesday, February 27th. StockNews.com downgraded shares of Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th. Stifel Nicolaus raised their price objective on shares of Workday from $250.00 to $290.00 and gave the stock a “hold” rating in a research note on Tuesday, February 27th. Needham & Company LLC lifted their price target on shares of Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Finally, Mizuho lifted their price objective on Workday from $290.00 to $325.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. One research 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 stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $293.61.

Workday Stock Performance

NASDAQ WDAY traded down $2.97 on Tuesday, reaching $245.80. The stock had a trading volume of 1,270,426 shares, compared to its average volume of 1,758,866. The company has a market cap of $64.89 billion, a P/E ratio of 48.30, a price-to-earnings-growth ratio of 6.27 and a beta of 1.32. Workday, Inc. has a 1-year low of $174.25 and a 1-year high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The firm has a fifty day moving average of $272.42 and a two-hundred day moving average of $264.59.

Workday (NASDAQ:WDAY) last released its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.10. The company had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. Workday’s quarterly revenue was up 16.8% on a year-over-year basis. During the same period in the prior year, the firm posted ($0.14) EPS. On average, equities research analysts anticipate that Workday, Inc. will post 1.76 EPS for the current year.

Workday Company 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.