Workday, Inc. $WDAY Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 43.0% during the fourth quarter, Holdings Channel reports. The fund owned 5,900 shares of the software maker’s stock after selling 4,453 shares during the period. Securian Asset Management Inc.’s holdings in Workday were worth $1,267,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. ABN AMRO Bank N.V. grew its stake in Workday by 11.2% during the 4th quarter. ABN AMRO Bank N.V. now owns 4,946 shares of the software maker’s stock worth $1,065,000 after purchasing an additional 497 shares in the last quarter. Oxbow Advisors LLC boosted its stake in shares of Workday by 1.4% in the 4th quarter. Oxbow Advisors LLC now owns 26,798 shares of the software maker’s stock valued at $5,756,000 after buying an additional 360 shares during the period. LRI Investments LLC acquired a new position in shares of Workday during the fourth quarter worth about $29,000. Crossmark Global Holdings Inc. increased its stake in shares of Workday by 26.0% during the fourth quarter. Crossmark Global Holdings Inc. now owns 13,151 shares of the software maker’s stock worth $2,825,000 after buying an additional 2,715 shares during the period. Finally, Koshinski Asset Management Inc. purchased a new stake in shares of Workday during the fourth quarter worth approximately $203,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, February 25th. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $200.00 price objective on shares of Workday in a research report on Monday, February 23rd. Rosenblatt Securities lowered their target price on shares of Workday from $180.00 to $150.00 and set a “buy” rating for the company in a research note on Wednesday, February 25th. Weiss Ratings lowered Workday from a “hold (c-)” rating to a “sell (d+)” rating in a report on Friday, March 20th. Finally, Morgan Stanley cut their price target on Workday from $280.00 to $200.00 and set an “equal weight” rating on the stock in a research note on Monday, February 23rd. Nineteen equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.71.

Workday Price Performance

WDAY stock opened at $118.62 on Wednesday. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The company has a market capitalization of $30.49 billion, a P/E ratio of 45.98, a PEG ratio of 1.18 and a beta of 1.04. The business has a 50 day simple moving average of $128.95 and a 200-day simple moving average of $175.19. Workday, Inc. has a twelve month low of $110.36 and a twelve month high of $276.00.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating the consensus estimate of $2.32 by $0.15. The firm had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. Workday’s revenue for the quarter was up 14.5% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.92 EPS. As a group, equities analysts anticipate that Workday, Inc. will post 5.11 EPS for the current year.

Insiders Place Their Bets

In other news, insider Gerrit S. Kazmaier sold 9,356 shares of the company’s stock in a transaction dated Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total value of $1,201,216.84. Following the completion of the sale, the insider directly owned 165,074 shares of the company’s stock, valued at approximately $21,193,850.86. This represents a 5.36% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of the firm’s stock in a transaction dated Tuesday, March 31st. The stock was sold at an average price of $129.76, for a total value of $13,949,200.00. Following the transaction, the insider directly owned 105,049 shares in the company, valued at approximately $13,631,158.24. This represents a 50.58% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 989,814 shares of company stock worth $131,576,291. 18.64% of the stock is currently owned by company insiders.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.