Workday, Inc. (NASDAQ:WDAY) Shares Sold by Pinkerton Retirement Specialists LLC

Pinkerton Retirement Specialists LLC trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY) by 1.2% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 9,336 shares of the software maker’s stock after selling 114 shares during the quarter. Pinkerton Retirement Specialists LLC’s holdings in Workday were worth $2,409,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings 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. T. Rowe Price Investment Management Inc. purchased a new position in Workday during the fourth quarter worth approximately $658,735,000. Norges Bank acquired a new position in Workday during the fourth quarter worth $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 last quarter. Finally, Geode Capital Management LLC grew its holdings in Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after buying an additional 1,772,223 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Down 1.9%

Shares of NASDAQ WDAY opened at $268.54 on Thursday. The stock has a market cap of $71.43 billion, a P/E ratio of 44.53, a PEG ratio of 3.55 and a beta of 1.30. The business’s fifty day simple moving average is $242.42 and its 200-day simple moving average is $254.01. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. 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 announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The company 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%. As a group, equities analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 81,275 shares of the business’s stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at $22,111,395.96. The trade was a 44.11% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the company’s stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the transaction, the chief accounting officer now directly owns 34,385 shares of the company’s stock, valued at $7,789,921.75. This trade represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 321,724 shares of company stock worth $77,976,126 in the last 90 days. Corporate insiders own 19.31% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on WDAY. JMP Securities reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Thursday, February 6th. Mizuho reduced their target price on shares of Workday from $320.00 to $275.00 and set an “outperform” rating on the stock in a research note on Tuesday, April 15th. BMO Capital Markets increased their price target on shares of Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Piper Sandler cut their price target on shares of Workday from $290.00 to $230.00 and set a “neutral” rating for the company in a report on Wednesday, April 23rd. Finally, Morgan Stanley decreased their price objective on Workday from $275.00 to $250.00 and set an “equal weight” rating on the stock in a report on Wednesday, April 16th. Nine research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $293.62.

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.