Commonwealth Equity Services LLC Sells 1,619 Shares of Workday, Inc. (NASDAQ:WDAY)

Commonwealth Equity Services LLC lowered its position in Workday, Inc. (NASDAQ:WDAY) by 7.0% in the fourth quarter, HoldingsChannel.com reports. The fund owned 21,551 shares of the software maker’s stock after selling 1,619 shares during the quarter. Commonwealth Equity Services LLC’s holdings in Workday were worth $5,561,000 at the end of the most recent reporting period.

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

Analyst Upgrades and Downgrades

Several research analysts have issued reports on the company. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Deutsche Bank Aktiengesellschaft upgraded Workday from a “hold” rating to a “buy” rating and raised their price target for the company from $265.00 to $300.00 in a report on Wednesday, January 8th. Loop Capital boosted their price objective on Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a report on Wednesday, February 19th. JPMorgan Chase & Co. raised their price target on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, Scotiabank cut their target price on Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $300.36.

Insider Activity at Workday

In other news, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now owns 6,845 shares in the company, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Monday, December 30th. The shares were sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the completion of the transaction, the insider now owns 172,000 shares in the company, valued at approximately $45,021,000. This trade represents a 24.56 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 473,001 shares of company stock worth $120,614,400. Company insiders own 20.00% of the company’s stock.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $249.49 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The stock has a 50 day moving average price of $256.76 and a 200 day moving average price of $255.11. The stock has a market capitalization of $66.36 billion, a PE ratio of 41.37, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00.

Workday (NASDAQ:WDAY) 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). The firm 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%. Analysts predict that Workday, Inc. will post 2.63 earnings per share 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.