Lindbrook Capital LLC Sells 285,404 Shares of Workday, Inc. (NASDAQ:WDAY)

Lindbrook Capital LLC decreased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 99.8% in the 4th quarter, according to its most recent 13F filing with the SEC. The firm owned 534 shares of the software maker’s stock after selling 285,404 shares during the period. Lindbrook Capital LLC’s holdings in Workday were worth $138,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Inceptionr LLC boosted its holdings in shares of Workday by 74.0% during the 4th quarter. Inceptionr LLC now owns 6,523 shares of the software maker’s stock worth $1,683,000 after buying an additional 2,775 shares during the period. Raymond James Financial Inc. acquired a new stake in Workday in the 4th quarter worth about $194,679,000. Promus Capital LLC acquired a new stake in Workday in the 4th quarter worth about $118,000. Arizona State Retirement System raised its stake in Workday by 0.3% in the 4th quarter. Arizona State Retirement System now owns 60,974 shares of the software maker’s stock worth $15,733,000 after purchasing an additional 203 shares in the last quarter. Finally, Proficio Capital Partners LLC acquired a new stake in Workday in the 4th quarter worth about $44,741,000. Institutional investors own 89.81% of the company’s stock.

Insider Activity

In other news, major shareholder David A. Duffield sold 66,455 shares of the firm’s stock in a transaction on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the completion of the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $26,729,781.44. This trade represents a 39.22 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now owns 13,972 shares of the company’s stock, valued at approximately $3,546,931.92. This trade represents a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 435,829 shares of company stock valued at $113,033,319. Insiders own 20.00% of the company’s stock.

Workday Price Performance

WDAY stock opened at $252.38 on Friday. The company has a fifty day moving average price of $258.39 and a 200-day moving average price of $255.61. The company has a market capitalization of $67.13 billion, a P/E ratio of 41.85, a PEG ratio of 3.55 and a beta of 1.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. 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 results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate 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 analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on the stock. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, February 26th. Morgan Stanley cut shares of Workday from an “overweight” rating to an “equal weight” rating and dropped their price objective for the stock from $330.00 to $275.00 in a research note on Wednesday, February 19th. Bank of America dropped their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating for the company in a research note on Wednesday, November 27th. Oppenheimer lifted their price objective on shares of Workday from $300.00 to $320.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, KeyCorp boosted their target price on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Ten equities 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 MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $302.14.

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.