Workday, Inc. (NASDAQ:WDAY) Shares Sold by Franklin Resources Inc.

Franklin Resources Inc. reduced its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 90.9% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 67,689 shares of the software maker's stock after selling 673,695 shares during the period. Franklin Resources Inc.'s holdings in Workday were worth $17,466,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of the stock. Bristlecone Advisors LLC grew its holdings in Workday by 49.6% during the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock valued at $754,000 after purchasing an additional 968 shares during the last quarter. Sanctuary Advisors LLC grew its stake in shares of Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock valued at $7,934,000 after buying an additional 1,978 shares during the last quarter. Nordea Investment Management AB raised its holdings in shares of Workday by 20.5% in the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock worth $182,753,000 after buying an additional 119,769 shares during the period. Burns Matteson Capital Management LLC bought a new stake in shares of Workday during the 4th quarter worth approximately $369,000. Finally, Principal Financial Group Inc. boosted its holdings in Workday by 45.0% during the 3rd quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker's stock valued at $4,349,000 after acquiring an additional 5,519 shares during the period. 89.81% of the stock is owned by institutional investors.

Remove Ads

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 472 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares in the company, valued at $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 Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the completion of the sale, the insider now directly owns 60,000 shares of the company's stock, valued at approximately $14,785,200. This represents a 48.28 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 377,699 shares of company stock worth $91,780,220. Corporate insiders own 20.00% of the company's stock.

Analysts Set New Price Targets

Several analysts have recently weighed in on the company. Morgan Stanley downgraded Workday from an "overweight" rating to an "equal weight" rating and decreased their target price for the stock from $330.00 to $275.00 in a research report on Wednesday, February 19th. Stifel Nicolaus upped their target price on shares of Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a research note on Wednesday, February 26th. BMO Capital Markets lifted their price target on shares of Workday from $300.00 to $314.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Guggenheim reissued a "neutral" rating on shares of Workday in a research note on Wednesday, February 26th. Finally, BNP Paribas upgraded Workday to a "strong-buy" rating in a report on Friday, February 14th. Ten investment 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, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $300.18.

Workday Price Performance

WDAY traded up $1.77 during trading on Friday, hitting $226.51. The company's stock had a trading volume of 2,203,615 shares, compared to its average volume of 2,606,894. The firm has a market capitalization of $60.25 billion, a price-to-earnings ratio of 37.56, a P/E/G ratio of 3.55 and a beta of 1.32. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The business's fifty day simple moving average is $248.47 and its 200 day simple moving average is $252.81. 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 released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. On average, equities research analysts forecast that Workday, Inc. will post 2.63 EPS 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.