Workday, Inc. (NASDAQ:WDAY) Shares Sold by Sustainable Growth Advisers LP

Sustainable Growth Advisers LP cut its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 26.4% in the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 2,657,310 shares of the software maker's stock after selling 952,801 shares during the period. Workday accounts for about 3.4% of Sustainable Growth Advisers LP's holdings, making the stock its 13th biggest position. Sustainable Growth Advisers LP owned 1.00% of Workday worth $685,666,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Janus Henderson Group PLC increased its holdings in shares of Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock worth $1,218,415,000 after buying an additional 480,459 shares during the last quarter. State Street Corp increased its holdings in shares of Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock worth $1,183,611,000 after buying an additional 67,380 shares during the last quarter. Geode Capital Management LLC increased its holdings in shares of Workday by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker's stock worth $698,285,000 after buying an additional 76,618 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in shares of Workday by 0.6% during the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker's stock worth $566,094,000 after buying an additional 14,159 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Workday by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker's stock worth $482,133,000 after buying an additional 75,747 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

WDAY has been the subject of a number of research analyst reports. Stifel Nicolaus upped their price objective on Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a report on Wednesday, February 26th. Barclays dropped their price objective on Workday from $314.00 to $305.00 and set an "overweight" rating for the company in a report on Wednesday, November 27th. StockNews.com downgraded Workday from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Redburn Atlantic assumed coverage on shares of Workday in a research report on Wednesday, February 19th. They set a "neutral" rating for the company. Finally, Deutsche Bank Aktiengesellschaft raised shares of Workday from a "hold" rating to a "buy" rating and upped their price target for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $302.14.

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Workday Price Performance

WDAY opened at $241.67 on Thursday. The firm has a market cap of $64.28 billion, a price-to-earnings ratio of 40.08, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company's 50-day moving average price is $257.38 and its 200 day moving average price is $255.80. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last released 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 for the quarter, compared to analyst estimates of $2.18 billion. As a group, sell-side analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity

In other news, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total value of $15,692,670.00. Following the transaction, the insider now owns 284,000 shares of the company's stock, valued at $78,188,040. The trade was a 16.72 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction that occurred on Monday, January 6th. The stock was 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. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is owned by company insiders.

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.

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