Nuveen Asset Management LLC Cuts Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Nuveen Asset Management LLC decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 12.4% in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,796,953 shares of the software maker’s stock after selling 255,207 shares during the quarter. Nuveen Asset Management LLC owned 0.68% of Workday worth $463,668,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Numerai GP LLC purchased a new position in shares of Workday during the fourth quarter worth about $1,077,000. OMERS ADMINISTRATION Corp boosted its stake in Workday by 20.9% in the fourth quarter. OMERS ADMINISTRATION Corp now owns 8,815 shares of the software maker’s stock worth $2,275,000 after buying an additional 1,522 shares in the last quarter. OCONNOR A Distinct Business Unit of UBS ASSET MANAGEMENT AMERICAS LLC purchased a new stake in Workday in the fourth quarter worth approximately $5,393,000. Old Well Partners LLC purchased a new stake in Workday in the fourth quarter worth approximately $1,806,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in Workday by 14.5% in the fourth quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 319,499 shares of the software maker’s stock worth $82,513,000 after buying an additional 40,423 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 66,455 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total value of $17,246,401.60. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $26,729,781.44. This represents a 39.22% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CAO Mark S. Garfield sold 497 shares of the stock in a transaction on Thursday, April 10th. The stock was 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 owns 34,385 shares of the company’s stock, valued at approximately $7,789,921.75. This trade represents a 1.42% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 321,724 shares of company stock worth $77,976,126. 19.31% of the stock is owned by corporate insiders.

Analyst Ratings Changes

WDAY has been the subject of several research reports. Stifel Nicolaus upped their target price on Workday from $270.00 to $310.00 and gave the stock a “hold” rating in a research note on Wednesday, February 26th. Daiwa America raised Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Citigroup cut their target price on Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. DA Davidson cut their target price on Workday from $270.00 to $230.00 and set a “neutral” rating for the company in a research note on Monday, April 14th. Finally, JPMorgan Chase & Co. upped their target price on Workday from $285.00 to $310.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus target price of $293.62.

Workday Price Performance

Shares of Workday stock opened at $271.17 on Thursday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The company has a market cap of $72.13 billion, a PE ratio of 44.97, a P/E/G ratio of 3.55 and a beta of 1.30. The business has a 50 day moving average of $239.33 and a 200 day moving average of $252.78. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00.

Workday (NASDAQ:WDAY) last announced its earnings results 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 business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, equities research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

About Workday

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.