Fmr LLC Reduces Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

FMR LLC lessened its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 16.3% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,711,337 shares of the software maker's stock after selling 529,211 shares during the period. FMR LLC owned 1.02% of Workday worth $699,606,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Benjamin Edwards Inc. acquired a new position in Workday in the 3rd quarter valued at about $345,000. Integrated Wealth Concepts LLC raised its position in shares of Workday by 8.6% during the 3rd quarter. Integrated Wealth Concepts LLC now owns 1,646 shares of the software maker's stock valued at $402,000 after buying an additional 130 shares during the period. Kovitz Investment Group Partners LLC lifted its holdings in Workday by 43.4% in the third quarter. Kovitz Investment Group Partners LLC now owns 5,199 shares of the software maker's stock valued at $1,271,000 after acquiring an additional 1,573 shares during the last quarter. EP Wealth Advisors LLC grew its position in Workday by 51.5% in the third quarter. EP Wealth Advisors LLC now owns 3,714 shares of the software maker's stock worth $908,000 after acquiring an additional 1,262 shares during the period. Finally, National Bank of Canada FI increased its stake in Workday by 122.5% during the third quarter. National Bank of Canada FI now owns 53,844 shares of the software maker's stock worth $13,160,000 after acquiring an additional 29,644 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

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Analysts Set New Price Targets

A number of equities analysts have recently weighed in on the company. Needham & Company LLC reiterated a "buy" rating and set a $300.00 price target on shares of Workday in a report on Monday, March 24th. Wells Fargo & Company lifted their price target on shares of Workday from $330.00 to $360.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. BMO Capital Markets upped their price objective on shares of Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Oppenheimer increased their price objective on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. Finally, JMP Securities reissued a "market outperform" rating and issued a $315.00 target price on shares of Workday in a research report on Thursday, February 6th. 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 company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $300.18.

Workday Stock Performance

WDAY stock traded up $7.00 during trading on Monday, hitting $233.51. The company had a trading volume of 672,046 shares, compared to its average volume of 2,604,885. The firm has a 50-day moving average price of $248.47 and a 200-day moving average price of $252.86. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market cap of $62.11 billion, a PE ratio of 38.72, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results 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 net margin of 19.86% and a return on equity of 6.13%. The company had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. On average, analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction that occurred on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the transaction, the chief executive officer now directly owns 10,847 shares of the company's stock, valued at approximately $2,544,814.67. This represents a 22.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Sayan Chakraborty sold 6,056 shares of the firm's stock in a transaction 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 completion of the sale, the insider now directly owns 111,324 shares of the company's stock, valued at approximately $29,556,522. This trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 321,227 shares of company stock worth $77,863,531. 20.00% of the stock is owned by insiders.

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.