Aviva PLC Decreases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Aviva PLC lessened its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 38.7% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 156,834 shares of the software maker's stock after selling 99,131 shares during the period. Aviva PLC owned 0.06% of Workday worth $40,468,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Oarsman Capital Inc. grew its holdings in Workday by 5.8% in the fourth quarter. Oarsman Capital Inc. now owns 928 shares of the software maker's stock worth $239,000 after purchasing an additional 51 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in shares of Workday in the 4th quarter worth approximately $16,892,000. Wells Fargo & Company MN grew its stake in shares of Workday by 5.9% in the 4th quarter. Wells Fargo & Company MN now owns 733,038 shares of the software maker's stock worth $189,146,000 after buying an additional 40,698 shares during the last quarter. Prudential PLC increased its position in Workday by 3.4% during the 4th quarter. Prudential PLC now owns 32,081 shares of the software maker's stock valued at $8,278,000 after buying an additional 1,047 shares in the last quarter. Finally, Pitcairn Co. raised its stake in Workday by 2.1% during the fourth quarter. Pitcairn Co. now owns 14,337 shares of the software maker's stock valued at $3,699,000 after buying an additional 300 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Workday news, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the sale, the chief executive officer now directly owns 10,847 shares of the company's stock, valued at $2,544,814.67. This trade represents a 22.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of the business's stock in a transaction on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $22,111,395.96. This trade represents a 44.11 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 377,699 shares of company stock worth $91,780,220. Corporate insiders own 20.00% of the company's stock.

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Workday Stock Performance

Shares of NASDAQ:WDAY traded down $0.11 during mid-day trading on Friday, reaching $224.63. 750,269 shares of the company traded hands, compared to its average volume of 2,595,429. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The firm has a market cap of $59.75 billion, a PE ratio of 37.16, a PEG ratio of 3.55 and a beta of 1.32. The company's 50 day moving average price is $249.14 and its 200-day moving average price is $252.93. 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 (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. On average, equities analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Stifel Nicolaus raised their price target on Workday from $270.00 to $310.00 and gave the company a "hold" rating in a report on Wednesday, February 26th. JMP Securities restated a "market outperform" rating and set a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. Wells Fargo & Company upped their target price on shares of Workday from $330.00 to $360.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Morgan Stanley cut shares of Workday from an "overweight" rating to an "equal weight" rating and cut their price target for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Finally, BNP Paribas upgraded shares of Workday to a "strong-buy" rating in a report on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Workday has a consensus rating of "Moderate Buy" and a consensus price target of $300.18.

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.