Legal & General Group Plc Lowers Stock Position in Workday, Inc. (NASDAQ:WDAY)

Legal & General Group Plc lessened its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 23.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 1,430,159 shares of the software maker's stock after selling 441,550 shares during the period. Legal & General Group Plc owned approximately 0.54% of Workday worth $369,024,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also modified their holdings of the company. Bristlecone Advisors LLC lifted its position in Workday by 49.6% in the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock valued at $754,000 after buying an additional 968 shares during the last quarter. Sanctuary Advisors LLC raised its stake in shares of Workday by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock valued at $7,934,000 after acquiring an additional 1,978 shares during the period. Nordea Investment Management AB lifted its holdings in shares of Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock worth $182,753,000 after acquiring an additional 119,769 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new position in shares of Workday in the 4th quarter worth approximately $369,000. Finally, Principal Financial Group Inc. boosted its position in shares of Workday by 45.0% during the 3rd quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker's stock worth $4,349,000 after purchasing an additional 5,519 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

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Insiders Place Their Bets

In other news, major shareholder David A. Duffield sold 56,000 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the completion of the sale, the insider now owns 60,000 shares in the company, valued at $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the transaction, the chief accounting officer now owns 35,408 shares in the company, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 377,699 shares of company stock valued at $91,780,220. Insiders own 20.00% of the company's stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of research reports. Redburn Atlantic initiated coverage on Workday in a research note on Wednesday, February 19th. They set a "neutral" rating on the stock. Jefferies Financial Group decreased their target price on Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Wells Fargo & Company lifted their target price on Workday from $330.00 to $360.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Canaccord Genuity Group boosted their price target on shares of Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Finally, BNP Paribas raised shares of Workday to a "strong-buy" rating in a research note on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $300.18.

Workday Stock Performance

Shares of Workday stock traded up $1.77 on Friday, hitting $226.51. The stock had a trading volume of 2,203,615 shares, compared to its average volume of 2,612,317. The stock has a market cap of $60.25 billion, a price-to-earnings ratio of 37.56, a P/E/G ratio of 3.55 and a beta of 1.32. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company's 50 day moving average price is $248.47 and its 200 day moving average price is $252.86.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings data 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). The firm had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current 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.