Price T Rowe Associates Inc. MD Lowers Position in Workday, Inc. (NASDAQ:WDAY)

Price T Rowe Associates Inc. MD cut its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 47.0% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 846,664 shares of the software maker's stock after selling 751,413 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.32% of Workday worth $218,466,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in WDAY. Vanguard Group Inc. raised its holdings in Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares in the last quarter. Norges Bank bought a new position in Workday in the 4th quarter worth $645,710,000. Parnassus Investments LLC raised its holdings in Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock worth $631,589,000 after purchasing an additional 2,078,097 shares in the last quarter. Geode Capital Management LLC raised its holdings in Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after purchasing an additional 1,772,223 shares in the last quarter. Finally, Invesco Ltd. raised its holdings in Workday by 102.6% in the 4th quarter. Invesco Ltd. now owns 1,855,778 shares of the software maker's stock worth $478,846,000 after purchasing an additional 939,955 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 66,455 shares of the firm's stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,729,781.44. This trade represents a 39.22 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of the firm's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. The trade was a 5.16 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 321,724 shares of company stock valued at $77,976,126. 20.00% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on WDAY. Needham & Company LLC reiterated a "buy" rating and issued a $300.00 price target on shares of Workday in a research note on Monday, March 24th. Daiwa America upgraded shares of Workday to a "strong-buy" rating in a research note on Tuesday, March 4th. KeyCorp increased their price target on shares of Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Scotiabank decreased their price target on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Finally, Citigroup decreased their price target on shares of Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average price target of $292.86.

Workday Stock Performance

Shares of WDAY traded up $0.29 on Monday, reaching $239.82. The company's stock had a trading volume of 898,471 shares, compared to its average volume of 2,621,563. 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 stock has a market capitalization of $63.79 billion, a P/E ratio of 39.77, a PEG ratio of 3.55 and a beta of 1.32. The stock's 50 day simple moving average is $240.31 and its two-hundred day simple moving average is $251.89. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Research 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.