Wellington Management Group LLP Lowers Position in Workday, Inc. (NASDAQ:WDAY)

Wellington Management Group LLP lessened its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 22.7% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 740,859 shares of the software maker's stock after selling 217,581 shares during the period. Wellington Management Group LLP owned about 0.28% of Workday worth $191,164,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in WDAY. Roxbury Financial LLC bought a new position in Workday in the fourth quarter worth approximately $25,000. Crews Bank & Trust bought a new stake in shares of Workday during the 4th quarter valued at $26,000. Avion Wealth raised its holdings in Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after purchasing an additional 86 shares during the period. TCTC Holdings LLC bought a new position in Workday in the 4th quarter worth $35,000. Finally, Rakuten Securities Inc. lifted its position in Workday by 78.6% during the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock valued at $39,000 after purchasing an additional 66 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently commented on the company. Stifel Nicolaus raised their price objective on Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a research note on Wednesday, February 26th. Oppenheimer increased their target price on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Royal Bank of Canada lifted their price target on shares of Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a report on Wednesday, February 26th. BNP Paribas raised shares of Workday to a "strong-buy" rating in a research note on Friday, February 14th. Finally, Mizuho raised their price objective on shares of Workday from $280.00 to $320.00 and gave the company an "outperform" rating in a research report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $300.18.

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Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 472 shares of the company's stock in a transaction dated Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, 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 document filed with the SEC, which is accessible through the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the sale, the chief executive officer now owns 10,847 shares of the company's stock, valued at $2,544,814.67. The trade was a 22.37 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 370,191 shares of company stock valued at $93,098,347 in the last quarter. 20.00% of the stock is owned by insiders.

Workday Trading Down 0.8 %

Shares of WDAY stock traded down $1.82 during trading hours on Monday, reaching $215.32. 5,201,589 shares of the stock were exchanged, compared to its average volume of 2,575,413. The firm has a market capitalization of $57.28 billion, a price-to-earnings ratio of 35.71, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The company's 50-day moving average price is $253.32 and its 200-day moving average price is $253.90. 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 (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 the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

About Workday

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.