Workday, Inc. (NASDAQ:WDAY) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC reduced its position in Workday, Inc. (NASDAQ:WDAY) by 26.2% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,403 shares of the software maker’s stock after selling 498 shares during the quarter. KCM Investment Advisors LLC’s holdings in Workday were worth $362,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Resona Asset Management Co. Ltd. acquired a new position in Workday during the 4th quarter valued at about $16,892,000. Wells Fargo & Company MN increased its holdings in shares of Workday by 5.9% during the fourth quarter. Wells Fargo & Company MN now owns 733,038 shares of the software maker’s stock valued at $189,146,000 after acquiring an additional 40,698 shares in the last quarter. Prudential PLC raised its position in shares of Workday by 3.4% in the 4th quarter. Prudential PLC now owns 32,081 shares of the software maker’s stock valued at $8,278,000 after purchasing an additional 1,047 shares during the last quarter. Pitcairn Co. boosted its stake in Workday by 2.1% in the 4th quarter. Pitcairn Co. now owns 14,337 shares of the software maker’s stock worth $3,699,000 after purchasing an additional 300 shares in the last quarter. Finally, Motley Fool Asset Management LLC grew its position in Workday by 14.0% during the 4th quarter. Motley Fool Asset Management LLC now owns 13,885 shares of the software maker’s stock worth $3,583,000 after purchasing an additional 1,700 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Down 4.9 %

Shares of Workday stock opened at $217.14 on Monday. 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, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The firm has a market capitalization of $57.76 billion, a PE ratio of 36.01, a P/E/G ratio of 3.55 and a beta of 1.38. The firm’s 50-day moving average price is $254.30 and its 200 day moving average price is $254.12.

Workday (NASDAQ:WDAY) last released its 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 net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. On average, sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 70,090 shares of the business’s stock in a transaction on Wednesday, January 8th. The stock was sold at an average price of $254.53, for a total transaction of $17,840,007.70. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,215,826.41. The trade was a 40.49 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Richard Harry Sauer sold 3,677 shares of the firm’s stock in a transaction on Tuesday, January 7th. The stock was sold at an average price of $251.90, for a total value of $926,236.30. Following the completion of the sale, the insider now directly owns 79,576 shares of the company’s stock, valued at $20,045,194.40. This trade represents a 4.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 370,191 shares of company stock valued at $93,098,347 in the last 90 days. 20.00% of the stock is owned by insiders.

Analysts Set New Price Targets

WDAY has been the subject of several research reports. Citigroup lowered their price objective on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Stifel Nicolaus boosted their price target on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research note on Wednesday, February 26th. Guggenheim restated a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. UBS Group lifted their target price on Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday, February 26th. Finally, Redburn Atlantic began coverage on shares of Workday in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Ten analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and an average target price of $300.18.

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.