Wellington Management Group LLP Has $940.43 Million Stock Position in Workday, Inc. (NASDAQ:WDAY)

Wellington Management Group LLP lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 34.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,406,603 shares of the software maker’s stock after selling 1,756,759 shares during the period. Wellington Management Group LLP owned about 1.30% of Workday worth $940,427,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently made changes to their positions in the stock. Norges Bank bought a new position in Workday in the fourth quarter valued at about $1,491,149,000. Winslow Capital Management LLC boosted its position in Workday by 76.4% during the 3rd quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock worth $496,436,000 after buying an additional 1,000,922 shares during the period. Morgan Stanley grew its holdings in Workday by 47.0% during the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock worth $586,021,000 after acquiring an additional 872,288 shares during the last quarter. Alkeon Capital Management LLC acquired a new position in Workday in the 3rd quarter valued at approximately $107,425,000. Finally, Invesco Ltd. raised its stake in shares of Workday by 22.1% during the third quarter. Invesco Ltd. now owns 1,802,209 shares of the software maker’s stock valued at $387,205,000 after acquiring an additional 326,283 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on WDAY. DA Davidson reduced their price objective on shares of Workday from $300.00 to $255.00 and set a “neutral” rating on the stock in a research note on Friday, May 24th. Evercore ISI decreased their price target on Workday from $350.00 to $300.00 and set an “outperform” rating for the company in a research note on Friday, May 24th. JPMorgan Chase & Co. cut their price objective on Workday from $300.00 to $285.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. Sanford C. Bernstein decreased their target price on shares of Workday from $321.00 to $301.00 and set an “outperform” rating for the company in a research report on Friday, May 24th. Finally, UBS Group dropped their price target on shares of Workday from $280.00 to $255.00 and set a “neutral” rating on the stock in a research report on Friday, May 24th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Workday has an average rating of “Moderate Buy” and an average target price of $283.96.

Insider Buying and Selling at Workday

In related news, insider Richard Harry Sauer sold 8,447 shares of the business’s stock in a transaction dated Monday, April 8th. The shares were sold at an average price of $268.21, for a total value of $2,265,569.87. Following the transaction, the insider now directly owns 66,356 shares of the company’s stock, valued at approximately $17,797,342.76. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In related news, insider Richard Harry Sauer sold 8,447 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $268.21, for a total value of $2,265,569.87. Following the transaction, the insider now owns 66,356 shares in the company, valued at $17,797,342.76. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 82,762 shares of the firm’s stock in a transaction on Monday, June 3rd. The stock was sold at an average price of $210.28, for a total value of $17,403,193.36. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $21,658,209.16. The disclosure for this sale can be found here. Insiders sold 448,713 shares of company stock worth $116,129,963 in the last quarter. 20.00% of the stock is currently owned by company insiders.

Workday Stock Up 1.2 %

Shares of WDAY stock traded up $2.40 on Friday, hitting $209.48. The stock had a trading volume of 1,641,813 shares, compared to its average volume of 3,831,455. Workday, Inc. has a 12-month low of $202.01 and a 12-month high of $311.28. The stock has a market cap of $55.51 billion, a price-to-earnings ratio of 37.74, a price-to-earnings-growth ratio of 6.28 and a beta of 1.33. The business has a 50 day moving average of $241.69 and a 200 day moving average of $267.17. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00.

Workday (NASDAQ:WDAY) last posted its earnings results on Thursday, May 23rd. The software maker reported $0.51 EPS for the quarter, topping the consensus estimate of $0.31 by $0.20. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. The company’s quarterly revenue was up 18.1% compared to the same quarter last year. During the same quarter last year, the firm earned $0.16 EPS. As a group, analysts expect that Workday, Inc. will post 1.78 EPS for the current year.

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.