ICICI Prudential Asset Management Co Ltd Decreases Holdings in Workday, Inc. (NASDAQ:WDAY)

ICICI Prudential Asset Management Co Ltd decreased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 61.5% during the 4th quarter, Holdings Channel.com reports. The fund owned 12,273 shares of the software maker’s stock after selling 19,605 shares during the period. ICICI Prudential Asset Management Co Ltd’s holdings in Workday were worth $3,167,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Roxbury Financial LLC purchased a new stake in shares of Workday during the 4th quarter worth approximately $25,000. Capital Performance Advisors LLP purchased a new stake in shares of Workday during the 3rd quarter worth approximately $26,000. Crews Bank & Trust purchased a new stake in shares of Workday during the 4th quarter worth approximately $26,000. Avion Wealth boosted its stake in shares of Workday by 452.6% during the 4th quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares in the last quarter. Finally, Meeder Asset Management Inc. boosted its stake in shares of Workday by 42.2% during the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock worth $35,000 after acquiring an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Up 3.0 %

Shares of Workday stock opened at $265.72 on Wednesday. The company has a fifty day moving average price of $261.59 and a 200 day moving average price of $252.41. 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, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The stock has a market cap of $70.68 billion, a price-to-earnings ratio of 44.07, a price-to-earnings-growth ratio of 3.51 and a beta of 1.35.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same period in the prior year, the company earned $0.47 EPS. The firm’s revenue was up 15.8% on a year-over-year basis. Equities research analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on WDAY. The Goldman Sachs Group lifted their price objective on Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research report on Thursday, February 6th. Needham & Company LLC restated a “buy” rating and set a $300.00 price objective on shares of Workday in a research report on Thursday, February 6th. Barclays cut their price objective on Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Piper Sandler restated a “neutral” rating and set a $270.00 price objective (down from $285.00) on shares of Workday in a research report on Wednesday, November 27th. Finally, Mizuho lifted their price objective on Workday from $280.00 to $320.00 and gave the stock an “outperform” rating in a research report on Friday, December 13th. Nine research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $290.46.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 70,003 shares of the company’s stock in a transaction dated Monday, December 2nd. The shares were sold at an average price of $251.20, for a total value of $17,584,753.60. Following the completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,872,846.40. This represents a 40.46 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction dated Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 438,819 shares of company stock valued at $113,142,592. Company insiders own 20.00% of the company’s stock.

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.