KBC Group NV Sells 44,857 Shares of Workday, Inc. (NASDAQ:WDAY)

KBC Group NV reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 23.1% in the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 148,921 shares of the software maker's stock after selling 44,857 shares during the period. KBC Group NV owned about 0.06% of Workday worth $36,398,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Capital Performance Advisors LLP purchased a new stake in shares of Workday during the 3rd quarter valued at approximately $26,000. Crewe Advisors LLC bought a new stake in Workday in the 1st quarter worth $27,000. SouthState Corp grew its holdings in Workday by 614.3% in the 2nd quarter. SouthState Corp now owns 150 shares of the software maker's stock worth $34,000 after acquiring an additional 129 shares during the last quarter. Goodman Advisory Group LLC bought a new stake in shares of Workday during the 2nd quarter valued at about $35,000. Finally, Asset Dedication LLC purchased a new position in Workday during the 2nd quarter valued at about $36,000. 89.81% of the stock is owned by institutional investors.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $242.01, for a total transaction of $13,552,560.00. Following the transaction, the insider now directly owns 281,000 shares in the company, valued at approximately $68,004,810. The trade was a 16.62 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction dated Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the transaction, the director now owns 97,500 shares in the company, valued at approximately $25,381,200. This represents a 7.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders sold 370,575 shares of company stock valued at $91,506,897. Company insiders own 20.00% of the company's stock.

Workday Stock Performance

Shares of WDAY stock traded down $12.08 during mid-day trading on Friday, reaching $259.41. The stock had a trading volume of 2,035,742 shares, compared to its average volume of 2,103,628. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a market cap of $68.74 billion, a PE ratio of 46.07, a P/E/G ratio of 5.49 and a beta of 1.35. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The firm's 50 day simple moving average is $246.64 and its 200 day simple moving average is $236.52.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, beating analysts' consensus estimates of $1.65 by $0.10. The firm had revenue of $2.09 billion during the quarter, compared to analysts' expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business's revenue was up 16.5% on a year-over-year basis. During the same period last year, the firm posted $0.40 EPS. On average, analysts forecast that Workday, Inc. will post 2.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on WDAY shares. Barclays lifted their price target on shares of Workday from $286.00 to $289.00 and gave the stock an "overweight" rating in a research note on Friday, August 23rd. Bank of America upped their price target on shares of Workday from $265.00 to $310.00 and gave the stock a "buy" rating in a research report on Friday, August 23rd. JMP Securities reissued a "market outperform" rating and issued a $315.00 target price on shares of Workday in a report on Thursday, September 19th. Morgan Stanley decreased their price target on shares of Workday from $325.00 to $315.00 and set an "overweight" rating on the stock in a research note on Friday, August 23rd. Finally, DA Davidson upped their price target on shares of Workday from $255.00 to $270.00 and gave the company a "neutral" rating in a research note on Friday, August 23rd. One 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. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $287.59.

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.