Workday, Inc. (NASDAQ:WDAY) Shares Sold by New England Research & Management Inc.

New England Research & Management Inc. trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 40.9% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,765 shares of the software maker's stock after selling 1,915 shares during the quarter. New England Research & Management Inc.'s holdings in Workday were worth $713,000 at the end of the most recent reporting period.

Other large investors have also bought and sold shares of the company. Sanctuary Advisors LLC raised its position in shares of Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock valued at $7,934,000 after purchasing an additional 1,978 shares during the period. Grafton Street Partners Fund LP bought a new stake in Workday in the 3rd quarter valued at $4,424,000. ICICI Prudential Asset Management Co Ltd boosted its holdings in shares of Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker's stock valued at $7,791,000 after purchasing an additional 7,802 shares during the last quarter. Nordea Investment Management AB grew its position in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock valued at $182,753,000 after purchasing an additional 119,769 shares in the last quarter. Finally, Atria Investments Inc boosted its stake in Workday by 19.3% during the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker's stock valued at $10,833,000 after buying an additional 7,175 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Trading Down 1.5 %

Shares of Workday stock traded down $3.97 during mid-day trading on Thursday, hitting $261.43. The stock had a trading volume of 829,505 shares, compared to its average volume of 1,975,254. The firm has a market cap of $69.54 billion, a P/E ratio of 43.32, a price-to-earnings-growth ratio of 4.58 and a beta of 1.34. 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 50-day moving average of $261.34 and a two-hundred day moving average of $248.60. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.16 billion during the quarter, compared to analysts' expectations of $2.13 billion. During the same quarter last year, the firm earned $0.47 earnings per share. The firm's quarterly revenue was up 15.8% compared to the same quarter last year. Sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In related news, CAO Mark S. Garfield sold 472 shares of the company's stock in a transaction that occurred 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 sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 70,090 shares of Workday stock in a transaction that occurred on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the completion of the transaction, the insider now owns 102,997 shares of the company's stock, valued at $26,215,826.41. This represents a 40.49 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 438,819 shares of company stock worth $113,142,592. Corporate insiders own 20.00% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on WDAY. Barclays decreased their price objective on Workday from $314.00 to $305.00 and set an "overweight" rating on the stock in a report on Wednesday, November 27th. Bank of America lowered their price objective on shares of Workday from $310.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Loop Capital reduced their target price on shares of Workday from $270.00 to $242.00 and set a "hold" rating on the stock in a report on Wednesday, November 27th. Citigroup lowered their price target on shares of Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Finally, Guggenheim upgraded Workday from a "sell" rating to a "neutral" rating in a report on Monday, January 6th. Eight research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, Workday currently has an average rating of "Moderate Buy" and a consensus price target of $292.25.

Workday 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.