Commonwealth Equity Services LLC Trims Stock Position in Workday, Inc. (NASDAQ:WDAY)

Commonwealth Equity Services LLC reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 7.0% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,551 shares of the software maker's stock after selling 1,619 shares during the period. Commonwealth Equity Services LLC's holdings in Workday were worth $5,561,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in WDAY. Roxbury Financial LLC acquired a new stake in Workday during the fourth quarter worth about $25,000. Crews Bank & Trust purchased a new stake in shares of Workday during the 4th quarter valued at approximately $26,000. Avion Wealth raised its position 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 during the period. True Wealth Design LLC lifted its holdings in Workday by 4,766.7% in 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 last quarter. Finally, Rakuten Securities Inc. increased its stake in Workday by 78.6% during the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after acquiring an additional 66 shares during the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Workday Stock Up 1.2 %

Shares of WDAY traded up $2.92 during mid-day trading on Tuesday, reaching $252.83. The company's stock had a trading volume of 1,176,580 shares, compared to its average volume of 2,430,541. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The stock has a market cap of $67.25 billion, a PE ratio of 41.93, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company's 50 day moving average is $256.97 and its 200 day moving average is $255.03.

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Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion during the quarter, compared to analysts' expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

WDAY has been the subject of a number of research analyst reports. Stifel Nicolaus increased their price target on Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a report on Wednesday, February 26th. Scotiabank lowered their target price 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. Barclays dropped their price target on shares of Workday from $314.00 to $305.00 and set an "overweight" rating for the company in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a "hold" rating to a "buy" rating and increased their price objective for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Finally, Citigroup dropped their target price 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. 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, the company presently has a consensus rating of "Moderate Buy" and an average target price of $300.36.

Insider Buying and Selling

In other news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction that occurred 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 completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. The trade was a 30.91 % 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 worth $105,735,200 in the last ninety days. 20.00% of the stock is owned by corporate insiders.

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.