Korea Investment CORP Sells 8,053 Shares of Workday, Inc. (NASDAQ:WDAY)

Korea Investment CORP lowered its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 4.1% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,528 shares of the software maker's stock after selling 8,053 shares during the period. Korea Investment CORP owned approximately 0.07% of Workday worth $48,388,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock valued at $5,197,447,000 after acquiring an additional 4,517,272 shares in the last quarter. Janus Henderson Group PLC raised its holdings in shares of Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock worth $1,218,415,000 after acquiring an additional 480,459 shares in the last quarter. State Street Corp boosted its position in Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock valued at $1,183,611,000 after purchasing an additional 67,380 shares during the last quarter. Geode Capital Management LLC grew its stake in Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker's stock valued at $698,285,000 after purchasing an additional 76,618 shares in the last quarter. Finally, Parnassus Investments LLC lifted its holdings in shares of Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after buying an additional 2,078,097 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

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Insider Buying and Selling at Workday

In other news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares of the company's stock, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of the business's stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the transaction, the director now owns 6,845 shares in the company, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 431,145 shares of company stock worth $108,631,438. Insiders own 20.00% of the company's stock.

Workday Stock Down 2.0 %

Shares of WDAY traded down $4.88 during midday trading on Monday, hitting $233.62. The stock had a trading volume of 1,955,420 shares, compared to its average volume of 2,200,524. 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 firm has a market cap of $62.14 billion, a price-to-earnings ratio of 38.65, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a 50 day simple moving average of $256.67 and a two-hundred day simple moving average of $254.82. Workday, Inc. has a twelve month low of $199.81 and a twelve 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 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 for the quarter, compared to analyst estimates of $2.18 billion. On average, analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of research reports. Jefferies Financial Group dropped their price objective on Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a report on Monday. Oppenheimer upped their price objective on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Stifel Nicolaus increased their target price on shares of Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a research report on Wednesday, February 26th. StockNews.com cut Workday from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Finally, BMO Capital Markets increased their price objective on Workday from $300.00 to $314.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. Ten investment 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 data from MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and an average target price of $300.18.

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.