ING Groep NV Sells 10,661 Shares of Workday, Inc. (NASDAQ:WDAY)

ING Groep NV lowered its position in shares of Workday, Inc. (NASDAQ:WDAY) by 28.1% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 27,309 shares of the software maker’s stock after selling 10,661 shares during the period. ING Groep NV’s holdings in Workday were worth $7,047,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of WDAY. Whittier Trust Co. of Nevada Inc. grew its position in Workday by 73.1% during the 3rd quarter. Whittier Trust Co. of Nevada Inc. now owns 289 shares of the software maker’s stock worth $71,000 after acquiring an additional 122 shares during the last quarter. Sequoia Financial Advisors LLC grew its position in shares of Workday by 13.0% in the 3rd quarter. Sequoia Financial Advisors LLC now owns 2,561 shares of the software maker’s stock valued at $626,000 after buying an additional 295 shares during the last quarter. Signaturefd LLC grew its position in shares of Workday by 9.7% in the 3rd quarter. Signaturefd LLC now owns 3,460 shares of the software maker’s stock valued at $846,000 after buying an additional 307 shares during the last quarter. International Assets Investment Management LLC grew its position in shares of Workday by 24,593.2% in the 3rd quarter. International Assets Investment Management LLC now owns 215,325 shares of the software maker’s stock valued at $52,628,000 after buying an additional 214,453 shares during the last quarter. Finally, YHB Investment Advisors Inc. grew its position in shares of Workday by 26.3% in the 3rd quarter. YHB Investment Advisors Inc. now owns 2,954 shares of the software maker’s stock valued at $722,000 after buying an additional 616 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of Workday stock opened at $256.39 on Friday. The company has a market cap of $68.20 billion, a PE ratio of 42.52, a price-to-earnings-growth ratio of 3.56 and a beta of 1.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The business has a 50 day moving average price of $260.75 and a 200-day moving average price of $252.87. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company’s quarterly revenue was up 15.8% compared to the same quarter last year. During the same period in the prior year, the business posted $0.47 earnings per share. Equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on WDAY shares. Needham & Company LLC reiterated a “buy” rating and issued a $300.00 price target on shares of Workday in a research report on Thursday, February 6th. Mizuho upped their price target on Workday from $280.00 to $320.00 and gave the company an “outperform” rating in a research report on Friday, December 13th. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a research report on Monday, January 13th. Redburn Atlantic started coverage on Workday in a research report on Wednesday. They issued a “neutral” rating on the stock. Finally, Bank of America reduced their price target on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Ten equities research analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, Workday currently has an average rating of “Moderate Buy” and an average target price of $291.11.

Insider Activity at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now directly 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $246.42, for a total value of $13,799,520.00. Following the sale, the insider now directly owns 60,000 shares of the company’s stock, valued at $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 438,819 shares of company stock valued at $113,142,592. 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.