Workday, Inc. (NASDAQ:WDAY) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 12.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 228,727 shares of the software maker’s stock after selling 33,785 shares during the quarter. Russell Investments Group Ltd. owned about 0.09% of Workday worth $59,089,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDAY. Vanguard Group Inc. increased its position in shares of Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. Norges Bank purchased a new position in Workday during the fourth quarter worth about $645,710,000. Parnassus Investments LLC boosted its stake in Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after buying an additional 2,078,097 shares during the period. Geode Capital Management LLC increased its position in shares of Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the last quarter. Finally, Raymond James Financial Inc. purchased a new stake in shares of Workday in the 4th quarter valued at approximately $194,679,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of research analyst reports. Canaccord Genuity Group boosted their target price on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research report on Wednesday, February 26th. Oppenheimer boosted their price objective on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Needham & Company LLC reissued a “buy” rating and set a $300.00 target price on shares of Workday in a research note on Monday, March 24th. Stifel Nicolaus lifted their target price on Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. Finally, BMO Capital Markets increased their price target on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Ten research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $300.18.

Insider Buying and Selling

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the company’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. This represents a 5.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of the firm’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the sale, the chief executive officer now owns 10,847 shares of the company’s stock, valued at $2,544,814.67. This trade represents a 22.37 % decrease in their position. 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 over the last quarter. 20.00% of the stock is currently owned by insiders.

Workday Price Performance

Shares of NASDAQ WDAY opened at $217.14 on Monday. The stock has a market cap of $57.76 billion, a P/E ratio of 36.01, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The stock has a 50 day moving average of $254.30 and a two-hundred day moving average of $254.12. 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) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS 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 business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. On average, research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

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.