Sei Investments Co. Cuts Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Sei Investments Co. reduced its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 6.3% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 699,500 shares of the software maker's stock after selling 47,311 shares during the quarter. Sei Investments Co. owned approximately 0.26% of Workday worth $180,493,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently bought and sold shares of the stock. Crews Bank & Trust purchased a new stake in Workday in the 4th quarter worth approximately $26,000. Roxbury Financial LLC bought a new stake in shares of Workday during the 4th quarter valued at $25,000. Avion Wealth lifted its stake in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after buying an additional 86 shares in the last quarter. TCTC Holdings LLC purchased a new stake in Workday in the 4th quarter worth $35,000. Finally, True Wealth Design LLC raised its holdings in Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker's stock valued at $36,000 after acquiring an additional 143 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the company. UBS Group lifted their target price on Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. JPMorgan Chase & Co. lifted their price objective on shares of Workday from $285.00 to $310.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 target price on shares of Workday in a research note on Monday. Stifel Nicolaus lifted their price target on shares of Workday from $270.00 to $310.00 and gave the company a "hold" rating in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft raised shares of Workday from a "hold" rating to a "buy" rating and increased their price objective for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, Workday presently has an average rating of "Moderate Buy" and an average target price of $300.36.

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Workday Stock Up 0.4 %

WDAY traded up $1.04 on Tuesday, reaching $250.95. The company's stock had a trading volume of 278,698 shares, compared to its average volume of 2,426,144. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The stock has a 50 day moving average of $256.83 and a two-hundred day moving average of $255.05. The company has a market capitalization of $66.75 billion, a price-to-earnings ratio of 41.63, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results 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). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. As a group, analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Activity

In other news, major shareholder David A. Duffield sold 71,672 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the transaction, the insider now owns 102,997 shares of the company's stock, valued at approximately $25,602,994.26. The trade was a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total value of $1,809,975.00. Following the sale, the director now directly owns 75,000 shares of the company's stock, valued at approximately $18,099,750. This represents a 9.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 417,001 shares of company stock valued at $105,735,200 in the last ninety days. 20.00% of the stock is currently owned by company insiders.

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.