Winslow Capital Management LLC Sells 492,244 Shares of Workday, Inc. (NASDAQ:WDAY)

Winslow Capital Management LLC reduced its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 24.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,547,259 shares of the software maker's stock after selling 492,244 shares during the period. Workday makes up approximately 1.4% of Winslow Capital Management LLC's holdings, making the stock its 23rd largest holding. Winslow Capital Management LLC owned approximately 0.58% of Workday worth $399,239,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in WDAY. Benjamin Edwards Inc. acquired a new position in shares of Workday during the third quarter worth about $345,000. Integrated Wealth Concepts LLC grew its position in Workday by 8.6% in the third quarter. Integrated Wealth Concepts LLC now owns 1,646 shares of the software maker's stock valued at $402,000 after acquiring an additional 130 shares in the last quarter. Kovitz Investment Group Partners LLC boosted its stake in shares of Workday by 43.4% in the third quarter. Kovitz Investment Group Partners LLC now owns 5,199 shares of the software maker's stock valued at $1,271,000 after purchasing an additional 1,573 shares during the period. EP Wealth Advisors LLC increased its position in shares of Workday by 51.5% during the third quarter. EP Wealth Advisors LLC now owns 3,714 shares of the software maker's stock worth $908,000 after acquiring an additional 1,262 shares during the last quarter. Finally, National Bank of Canada FI lifted its stake in shares of Workday by 122.5% in the third quarter. National Bank of Canada FI now owns 53,844 shares of the software maker's stock worth $13,160,000 after acquiring an additional 29,644 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

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Workday Stock Up 1.0 %

NASDAQ:WDAY traded up $2.24 during trading hours on Monday, hitting $228.75. 886,623 shares of the stock traded hands, compared to its average volume of 2,605,631. The firm has a 50 day moving average price of $248.47 and a 200 day moving average price of $252.86. The firm has a market cap of $60.85 billion, a price-to-earnings ratio of 37.94, a PEG ratio of 3.55 and a beta of 1.32. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. 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 quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 81,275 shares of the company's stock in a transaction dated Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the sale, the insider now directly owns 102,997 shares in the company, valued at $22,111,395.96. This represents a 44.11 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of Workday stock in a transaction dated Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the completion of the transaction, the chief executive officer now owns 10,847 shares in the company, valued at $2,544,814.67. The trade was a 22.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,227 shares of company stock valued at $77,863,531 in the last three months. Insiders own 20.00% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have issued reports on WDAY. Deutsche Bank Aktiengesellschaft raised Workday from a "hold" rating to a "buy" rating and upped their target price for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Piper Sandler increased their target price on Workday from $270.00 to $290.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. UBS Group boosted their price target on Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a report on Wednesday, February 26th. BNP Paribas raised shares of Workday to a "strong-buy" rating in a report on Friday, February 14th. Finally, Redburn Atlantic initiated coverage on shares of Workday in a report on Wednesday, February 19th. They set a "neutral" rating on the stock. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $300.18.

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.