Workday, Inc. (NASDAQ:WDAY) Holdings Lowered by iA Global Asset Management Inc.

iA Global Asset Management Inc. cut its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 54.7% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 30,080 shares of the software maker's stock after selling 36,285 shares during the quarter. iA Global Asset Management Inc.'s holdings in Workday were worth $7,762,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also added to or reduced their stakes in the company. Simplicity Wealth LLC raised its position in shares of Workday by 3.0% in the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker's stock valued at $330,000 after purchasing an additional 37 shares in the last quarter. Marcum Wealth LLC increased its stake in shares of Workday by 4.4% in the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker's stock worth $249,000 after buying an additional 41 shares during the last quarter. Custom Index Systems LLC increased its stake in shares of Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker's stock worth $364,000 after buying an additional 41 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock valued at $35,000 after acquiring an additional 43 shares in the last quarter. Finally, Kingsview Wealth Management LLC boosted its stake in Workday by 0.9% during the 3rd quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker's stock valued at $1,243,000 after acquiring an additional 43 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

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Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the stock. Canaccord Genuity Group upped their target price on shares of Workday from $300.00 to $330.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Royal Bank of Canada upped their price objective on Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. UBS Group increased their target price on Workday from $255.00 to $285.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. BNP Paribas upgraded Workday to a "strong-buy" rating in a report on Friday, February 14th. Finally, Bank of America reduced their price objective on Workday from $310.00 to $285.00 and set a "buy" rating on the stock in a research note on Wednesday, November 27th. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $300.36.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 71,672 shares of Workday stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at $25,602,994.26. The trade was a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the completion of the sale, the director now directly owns 75,000 shares of the company's stock, valued at $18,099,750. The trade was a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 417,001 shares of company stock valued at $105,735,200. Corporate insiders own 20.00% of the company's stock.

Workday Price Performance

Workday stock traded up $2.92 during trading hours on Tuesday, hitting $252.83. 1,176,580 shares of the company traded hands, compared to its average volume of 2,426,144. The firm's 50-day simple moving average is $256.83 and its two-hundred day simple moving average is $255.05. The firm has a market cap of $67.25 billion, a P/E ratio of 41.93, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal 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.