Northwest & Ethical Investments L.P. Cuts Stake in Workday, Inc. (NASDAQ:WDAY)

Northwest & Ethical Investments L.P. reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 1.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,136 shares of the software maker’s stock after selling 320 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Workday were worth $5,454,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Commonwealth of Pennsylvania Public School Empls Retrmt SYS purchased a new stake in Workday during the 4th quarter valued at approximately $11,686,000. Royal London Asset Management Ltd. grew its holdings in shares of Workday by 5.9% in the fourth quarter. Royal London Asset Management Ltd. now owns 91,610 shares of the software maker’s stock valued at $23,638,000 after purchasing an additional 5,120 shares in the last quarter. First Financial Bankshares Inc grew its holdings in shares of Workday by 0.4% in the fourth quarter. First Financial Bankshares Inc now owns 33,049 shares of the software maker’s stock valued at $8,528,000 after purchasing an additional 134 shares in the last quarter. Harvest Fund Management Co. Ltd grew its holdings in shares of Workday by 27.8% in the fourth quarter. Harvest Fund Management Co. Ltd now owns 12,536 shares of the software maker’s stock valued at $3,235,000 after purchasing an additional 2,725 shares in the last quarter. Finally, Vinva Investment Management Ltd grew its holdings in shares of Workday by 9.8% in the fourth quarter. Vinva Investment Management Ltd now owns 3,441 shares of the software maker’s stock valued at $902,000 after purchasing an additional 307 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

WDAY has been the subject of a number of recent research reports. Canaccord Genuity Group raised their target price on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Morgan Stanley lowered shares of Workday from an “overweight” rating to an “equal weight” rating and cut their target price for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. UBS Group raised their target price on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Royal Bank of Canada lifted their price objective on shares of Workday from $320.00 to $340.00 and gave the stock an “outperform” rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Wednesday, February 26th. Ten investment 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. Based on data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, December 23rd. The shares were sold at an average price of $265.70, for a total value of $14,879,200.00. Following the completion of the sale, the insider now directly owns 228,000 shares in the company, valued at $60,579,600. This trade represents a 19.72 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This trade represents a 1.32 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 473,001 shares of company stock worth $120,614,400 over the last three months. Corporate insiders own 20.00% of the company’s stock.

Workday Price Performance

NASDAQ WDAY opened at $250.47 on Friday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm’s 50 day moving average price is $256.76 and its 200-day moving average price is $255.24. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a market cap of $66.63 billion, a PE ratio of 41.54, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last released its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Sell-side analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal 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.