Workday, Inc. (NASDAQ:WDAY) Shares Sold by Summit Global Investments

Summit Global Investments reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 16.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 3,832 shares of the software maker’s stock after selling 778 shares during the quarter. Summit Global Investments’ holdings in Workday were worth $989,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of WDAY. Crews Bank & Trust acquired a new position in Workday in the fourth quarter valued at $26,000. Roxbury Financial LLC purchased a new stake in shares of Workday in the fourth quarter valued at about $25,000. Avion Wealth boosted its holdings in shares of Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares in the last quarter. TCTC Holdings LLC purchased a new stake in shares of Workday in the fourth quarter valued at about $35,000. Finally, True Wealth Design LLC boosted its holdings in Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock worth $36,000 after buying an additional 143 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $265.70, for a total transaction of $14,879,200.00. Following the completion of the transaction, the insider now owns 228,000 shares in the company, valued at approximately $60,579,600. This trade represents a 19.72 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the transaction, the director now owns 75,000 shares of the company’s stock, valued at approximately $18,099,750. This trade represents a 9.09 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 473,001 shares of company stock valued at $120,614,400. Company insiders own 20.00% of the company’s stock.

Analyst Ratings Changes

WDAY has been the topic of a number of research analyst reports. BNP Paribas raised shares of Workday to a “strong-buy” rating in a report on Friday, February 14th. StockNews.com lowered shares of Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Mizuho boosted their price objective on shares of Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. UBS Group upped their price target on shares of Workday from $255.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 26th. Finally, Redburn Atlantic initiated coverage on shares of Workday in a research note on Wednesday, February 19th. They set a “neutral” rating for the company. Ten research 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 company’s stock. According to data from MarketBeat, Workday currently has an average rating of “Moderate Buy” and a consensus price target of $300.36.

Workday Stock Down 0.4 %

Shares of NASDAQ:WDAY opened at $249.49 on Friday. The stock has a market capitalization of $66.36 billion, a price-to-earnings ratio of 41.37, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The company’s fifty day moving average is $256.76 and its two-hundred day moving average is $255.11. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

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 analysts’ consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion during 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%. Equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current 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.