Workday, Inc. (NASDAQ:WDAY) Shares Sold by Russell Investments Group Ltd.

Russell Investments Group Ltd. reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 12.9% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 228,727 shares of the software maker’s stock after selling 33,785 shares during the quarter. Russell Investments Group Ltd.’s holdings in Workday were worth $59,089,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in WDAY. Crews Bank & Trust acquired a new position in Workday during the fourth quarter worth $26,000. Roxbury Financial LLC purchased a new position in Workday in the 4th quarter valued at about $25,000. Avion Wealth boosted its position in Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock worth $27,000 after acquiring an additional 86 shares during the last quarter. TCTC Holdings LLC purchased a new stake in shares of Workday in the fourth quarter valued at $35,000. Finally, Rakuten Securities Inc. increased its stake in shares of Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker’s stock valued at $39,000 after acquiring an additional 66 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of research firms have recently commented on WDAY. Wells Fargo & Company raised their price objective on Workday from $330.00 to $360.00 and gave the stock an “overweight” rating in a report on Wednesday, February 26th. Daiwa America upgraded Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Guggenheim restated a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. BMO Capital Markets upped their price objective on Workday from $300.00 to $314.00 and gave the company an “outperform” rating in a research note on Thursday, February 27th. Finally, BNP Paribas upgraded Workday to a “strong-buy” rating in a research note on Friday, February 14th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus price target of $300.18.

Insiders Place Their Bets

In related news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Thursday, March 13th. The stock was sold at an average price of $241.33, for a total value of $1,809,975.00. Following the transaction, the director now directly owns 75,000 shares in the company, valued at $18,099,750. The trade was a 9.09 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Carl M. Eschenbach sold 3,125 shares of the business’s stock in a transaction on Wednesday, April 2nd. The stock was sold at an average price of $234.61, for a total value of $733,156.25. Following the sale, the chief executive officer now directly owns 10,847 shares in the company, valued at $2,544,814.67. This trade represents a 22.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 370,191 shares of company stock worth $93,098,347. 20.00% of the stock is owned by corporate insiders.

Workday Stock Performance

WDAY opened at $217.14 on Monday. The business has a 50 day moving average price of $254.30 and a two-hundred day moving average price of $254.12. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The company has a market capitalization of $57.76 billion, a price-to-earnings ratio of 36.01, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share 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 firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Research analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Workday 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.