Russell Investments Group Ltd. Cuts Stock Position in Workday, Inc. (NASDAQ:WDAY)

Russell Investments Group Ltd. trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 12.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 228,727 shares of the software maker's stock after selling 33,785 shares during the period. Russell Investments Group Ltd. owned 0.09% of Workday worth $59,089,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WDAY. Bristlecone Advisors LLC boosted its position in Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock worth $754,000 after purchasing an additional 968 shares during the period. Sanctuary Advisors LLC grew its stake in Workday by 7.2% in the 3rd 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 Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock valued at $182,753,000 after acquiring an additional 119,769 shares during the period. Burns Matteson Capital Management LLC bought a new position in Workday in the 4th quarter valued at about $369,000. Finally, Principal Financial Group Inc. lifted its position in Workday by 45.0% during the third quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker's stock worth $4,349,000 after acquiring an additional 5,519 shares during the last quarter. 89.81% of the stock is owned by institutional investors.

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Insiders Place Their Bets

In other news, insider Sayan Chakraborty sold 6,056 shares of the company's stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now directly owns 111,324 shares of the company's stock, valued at $29,556,522. This represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder David A. Duffield sold 66,455 shares of the company's stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,729,781.44. The trade was a 39.22 % decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 377,699 shares of company stock worth $91,780,220. 20.00% of the stock is currently owned by company insiders.

Workday Trading Up 0.8 %

Shares of NASDAQ WDAY traded up $1.77 during midday trading on Friday, reaching $226.51. The stock had a trading volume of 2,203,615 shares, compared to its average volume of 2,606,894. The company's 50 day moving average price is $248.47 and its 200 day moving average price is $252.81. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The firm has a market cap of $60.25 billion, a price-to-earnings ratio of 37.56, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data 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 business had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. As a group, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

WDAY has been the subject of a number of research reports. JMP Securities reissued a "market outperform" rating and set a $315.00 target price on shares of Workday in a report on Thursday, February 6th. StockNews.com downgraded shares of Workday from a "buy" rating to a "hold" rating in a report on Monday, January 13th. BMO Capital Markets raised their target price on shares of Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. The Goldman Sachs Group boosted their price target on Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Finally, Piper Sandler raised their price objective on Workday from $270.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $300.18.

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.