Workday, Inc. (NASDAQ:WDAY) Shares Sold by Truist Financial Corp

Truist Financial Corp reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 27.4% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 85,995 shares of the software maker’s stock after selling 32,450 shares during the quarter. Truist Financial Corp’s holdings in Workday were worth $23,740,000 as of its most recent filing with the SEC.

A number of other hedge funds have also made changes to their positions in WDAY. Vontobel Holding Ltd. lifted its position in shares of Workday by 5.1% during the 4th quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock worth $18,517,000 after buying an additional 3,260 shares during the last quarter. Morgan Stanley boosted its stake in Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after acquiring an additional 872,288 shares in the last quarter. QRG Capital Management Inc. purchased a new position in shares of Workday during the third quarter worth about $345,000. Assenagon Asset Management S.A. increased its position in shares of Workday by 58.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 278,569 shares of the software maker’s stock worth $76,902,000 after purchasing an additional 103,171 shares in the last quarter. Finally, Mariner LLC increased its position in shares of Workday by 21.1% during the third quarter. Mariner LLC now owns 28,304 shares of the software maker’s stock worth $6,081,000 after purchasing an additional 4,927 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts have weighed in on WDAY shares. BMO Capital Markets boosted their price objective on Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a research note on Tuesday, February 13th. Morgan Stanley reduced their price target on shares of Workday from $335.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th. Needham & Company LLC raised their price objective on shares of Workday from $300.00 to $350.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Barclays reduced their target price on shares of Workday from $326.00 to $316.00 and set an “overweight” rating for the company in a report on Tuesday, February 27th. Finally, DA Davidson reiterated a “neutral” rating and set a $300.00 target price on shares of Workday in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Insider Activity

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the completion of the transaction, the insider now directly owns 843,000 shares of the company’s stock, valued at approximately $223,302,270. The transaction was disclosed in a filing with the SEC, which is accessible through this link. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the sale, the insider now directly owns 843,000 shares in the company, valued at approximately $223,302,270. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Douglas A. Robinson sold 411 shares of the stock in a transaction that occurred on Tuesday, March 5th. The shares were sold at an average price of $266.90, for a total value of $109,695.90. Following the transaction, the insider now owns 165,521 shares of the company’s stock, valued at $44,177,554.90. The disclosure for this sale can be found here. Over the last three months, insiders sold 435,691 shares of company stock worth $117,731,569. 21.09% of the stock is currently owned by company insiders.

Workday Stock Down 0.9 %

Shares of NASDAQ WDAY opened at $248.77 on Tuesday. The stock has a fifty day moving average price of $272.42 and a 200 day moving average price of $264.59. The company has a market cap of $65.68 billion, a P/E ratio of 48.30, a P/E/G ratio of 6.27 and a beta of 1.32. Workday, Inc. has a 12-month low of $174.25 and a 12-month high of $311.28. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping the consensus estimate of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The firm had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. During the same period in the previous year, the company posted ($0.14) EPS. Workday’s revenue for the quarter was up 16.8% on a year-over-year basis. Research analysts anticipate that Workday, Inc. will post 1.76 EPS for the current fiscal 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.