DnB Asset Management AS Sells 192,637 Shares of Workday, Inc. (NASDAQ:WDAY)

DnB Asset Management AS trimmed its holdings in Workday, Inc. (NASDAQ:WDAY) by 43.6% during the fourth quarter, Holdings Channel reports. The firm owned 249,271 shares of the software maker’s stock after selling 192,637 shares during the quarter. DnB Asset Management AS’s holdings in Workday were worth $64,319,000 at the end of the most recent quarter.

Other large investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its holdings in shares of Workday by 28.9% during the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after buying an additional 4,517,272 shares in the last quarter. Janus Henderson Group PLC boosted its stake in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares in the last quarter. State Street Corp raised its holdings in shares of Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after purchasing an additional 67,380 shares during the period. Geode Capital Management LLC boosted its position in shares of Workday by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after purchasing an additional 76,618 shares in the last quarter. Finally, Norges Bank acquired a new stake in shares of Workday in the 4th quarter valued at about $645,710,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Transactions at Workday

In other news, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction dated Thursday, March 13th. The shares were sold at an average price of $241.33, for a total transaction of $1,809,975.00. Following the sale, the director now directly owns 75,000 shares of the company’s stock, valued at $18,099,750. This represents a 9.09 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Monday, December 30th. The shares were sold at an average price of $261.75, for a total value of $14,658,000.00. Following the completion of the sale, the insider now directly owns 172,000 shares in the company, valued at approximately $45,021,000. The trade was a 24.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 487,145 shares of company stock worth $123,289,438 over the last quarter. 20.00% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Citigroup cut their price target on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. BNP Paribas upgraded shares of Workday to a “strong-buy” rating in a research note on Friday, February 14th. Needham & Company LLC reissued a “buy” rating and set a $300.00 price objective on shares of Workday in a report on Monday. Morgan Stanley downgraded shares of Workday from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $330.00 to $275.00 in a report on Wednesday, February 19th. Finally, StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus target price of $300.36.

Workday Trading Down 2.5 %

NASDAQ:WDAY opened at $244.55 on Friday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a market capitalization of $65.05 billion, a P/E ratio of 40.56, a PEG ratio of 3.55 and a beta of 1.38. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a fifty day simple moving average of $256.89 and a 200-day simple moving average of $254.93.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate 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 analyst estimates of $2.18 billion. On average, equities research analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current year.

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.