Erste Asset Management GmbH Trims Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Erste Asset Management GmbH cut its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 42.0% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,252 shares of the software maker's stock after selling 13,964 shares during the quarter. Erste Asset Management GmbH's holdings in Workday were worth $5,126,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. Tredje AP fonden lifted its holdings in shares of Workday by 57.9% during the fourth quarter. Tredje AP fonden now owns 157,900 shares of the software maker's stock worth $40,743,000 after buying an additional 57,900 shares in the last quarter. Vestcor Inc raised its stake in Workday by 226.3% during the fourth quarter. Vestcor Inc now owns 13,815 shares of the software maker's stock worth $3,565,000 after acquiring an additional 9,581 shares in the last quarter. Rakuten Securities Inc. raised its stake in Workday by 78.6% during the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after acquiring an additional 66 shares in the last quarter. Avantax Advisory Services Inc. raised its stake in Workday by 18.7% during the fourth quarter. Avantax Advisory Services Inc. now owns 19,698 shares of the software maker's stock worth $5,083,000 after acquiring an additional 3,106 shares in the last quarter. Finally, Essential Planning LLC. raised its stake in Workday by 6,331.6% during the fourth quarter. Essential Planning LLC. now owns 112,488 shares of the software maker's stock worth $28,718,000 after acquiring an additional 110,739 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Remove Ads

Workday Trading Up 2.9 %

Workday stock traded up $6.95 during trading hours on Friday, reaching $244.17. The company had a trading volume of 1,365,926 shares, compared to its average volume of 2,421,608. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a 50-day moving average price of $256.91 and a 200 day moving average price of $255.49. The firm has a market cap of $64.95 billion, a price-to-earnings ratio of 40.49, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on WDAY. Scotiabank boosted their price target on Workday from $340.00 to $355.00 and gave the stock a "sector outperform" rating in a report on Thursday, February 27th. Needham & Company LLC reiterated a "buy" rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, February 26th. Citigroup reduced their target price on Workday from $287.00 to $270.00 and set a "neutral" rating on the stock in a report on Thursday, January 16th. Deutsche Bank Aktiengesellschaft upgraded Workday from a "hold" rating to a "buy" rating and increased their price target for the stock from $265.00 to $300.00 in a report on Wednesday, January 8th. Finally, Canaccord Genuity Group increased their price target on Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a report on Wednesday, February 26th. Ten investment 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 stock. According to data from MarketBeat, Workday has a consensus rating of "Moderate Buy" and an average target price of $302.14.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 70,090 shares of the company's stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $26,215,826.41. This represents a 40.49 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Sayan Chakraborty sold 6,056 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the sale, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. This trade represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is owned by insiders.

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.