Aviva PLC Lowers Position in Workday, Inc. (NASDAQ:WDAY)

Aviva PLC decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 38.7% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 156,834 shares of the software maker’s stock after selling 99,131 shares during the period. Aviva PLC owned 0.06% of Workday worth $40,468,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of WDAY. Vanguard Group Inc. increased its holdings in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after buying an additional 4,517,272 shares during the period. State Street Corp raised its position in shares of Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. Geode Capital Management LLC lifted its stake in shares of Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock worth $1,193,105,000 after purchasing an additional 1,772,223 shares during the last quarter. Clearbridge Investments LLC boosted its position in Workday by 5.4% during the fourth quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker’s stock valued at $687,237,000 after purchasing an additional 136,211 shares in the last quarter. Finally, Norges Bank purchased a new position in Workday in the fourth quarter valued at about $645,710,000. Institutional investors own 89.81% of the company’s stock.

Insider Activity

In related news, major shareholder David A. Duffield sold 71,672 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $248.58, for a total value of $17,816,225.76. Following the completion of the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $25,602,994.26. The trade was a 41.03 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the transaction, the chief executive officer now directly owns 10,847 shares in the company, valued at approximately $2,544,814.67. The trade was a 22.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 370,191 shares of company stock worth $93,098,347 over the last three months. 20.00% of the stock is currently owned by corporate insiders.

Workday Stock Performance

Shares of NASDAQ WDAY opened at $217.14 on Monday. Workday, Inc. has a 1 year low of $199.81 and a 1 year 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. The company’s fifty day moving average price is $254.30 and its 200 day moving average price is $254.12. The company has a market capitalization of $57.76 billion, a PE ratio of 36.01, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. On average, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several analysts have commented on WDAY shares. Scotiabank decreased their price target on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a research report on Monday, March 17th. Wells Fargo & Company raised their target price on shares of Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Citigroup reduced their price target on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. KeyCorp raised their price objective on Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 26th. Finally, Mizuho upped their target price on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $300.18.

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.