Workday, Inc. (NASDAQ:WDAY) Shares Sold by KCM Investment Advisors LLC

KCM Investment Advisors LLC trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 26.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,403 shares of the software maker’s stock after selling 498 shares during the quarter. KCM Investment Advisors LLC’s holdings in Workday were worth $362,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently bought and sold shares of WDAY. Vanguard Group Inc. increased its position in shares of 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 acquiring an additional 4,517,272 shares during the last quarter. Norges Bank purchased a new position in shares of Workday during the 4th quarter worth approximately $645,710,000. Parnassus Investments LLC increased its holdings in Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after purchasing an additional 2,078,097 shares during the last quarter. Geode Capital Management LLC raised its position in Workday by 61.9% in the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares during the period. Finally, Raymond James Financial Inc. acquired a new position in Workday during the fourth quarter worth $194,679,000. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. Canaccord Genuity Group lifted their price objective on Workday from $300.00 to $330.00 and gave the company a “buy” rating in a research note on Wednesday, February 26th. KeyCorp boosted their price target on shares of Workday from $305.00 to $335.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 26th. JMP Securities reissued a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Thursday, February 6th. Redburn Atlantic initiated coverage on shares of Workday in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Finally, Citigroup decreased their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. 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 stock. Based on data from MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus target price of $300.18.

Workday Stock Down 4.9 %

WDAY opened at $217.14 on Monday. Workday, Inc. has a one year low of $199.81 and a one 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 stock has a market capitalization of $57.76 billion, a P/E ratio of 36.01, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The business’s 50-day simple moving average is $254.30 and its 200-day simple moving average is $254.12.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity at Workday

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the transaction, the insider now directly owns 111,324 shares of the company’s stock, valued at approximately $29,556,522. This trade represents a 5.16 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Carl M. Eschenbach sold 3,125 shares of the company’s stock in a transaction dated Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total transaction of $733,156.25. Following the completion of the sale, the chief executive officer now directly owns 10,847 shares of the company’s stock, valued at $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 a total of 370,191 shares of company stock worth $93,098,347 in the last 90 days. 20.00% of the stock is owned by insiders.

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.