Workday, Inc. (NASDAQ:WDAY) Shares Sold by Vestcor Inc

Vestcor Inc reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 78.0% during the 3rd quarter, HoldingsChannel reports. The institutional investor owned 4,234 shares of the software maker’s stock after selling 15,000 shares during the quarter. Vestcor Inc’s holdings in Workday were worth $1,035,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. M&T Bank Corp increased its position in shares of Workday by 3.6% in the 3rd quarter. M&T Bank Corp now owns 16,914 shares of the software maker’s stock valued at $4,134,000 after acquiring an additional 583 shares during the period. Nomura Asset Management Co. Ltd. grew its stake in Workday by 23.5% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 78,156 shares of the software maker’s stock valued at $19,102,000 after purchasing an additional 14,861 shares during the last quarter. Y Intercept Hong Kong Ltd acquired a new position in shares of Workday in the third quarter valued at about $6,020,000. Zurich Insurance Group Ltd FI purchased a new position in shares of Workday in the third quarter worth about $78,003,000. Finally, National Bank of Canada FI lifted its holdings in shares of Workday by 122.5% during the third quarter. National Bank of Canada FI now owns 53,844 shares of the software maker’s stock worth $13,160,000 after purchasing an additional 29,644 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the company’s stock in a transaction on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the completion of the sale, the director now directly owns 8,674 shares in the company, valued at $2,097,806.90. This represents a 17.41 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 70,003 shares of Workday stock in a transaction on Monday, December 2nd. The stock was sold at an average price of $251.20, for a total value of $17,584,753.60. Following the transaction, the insider now owns 102,997 shares in the company, valued at approximately $25,872,846.40. This represents a 40.46 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 361,463 shares of company stock valued at $88,422,088. Corporate insiders own 20.00% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the topic of several research reports. The Goldman Sachs Group increased their price target on shares of Workday from $300.00 to $305.00 and gave the stock a “buy” rating in a report on Thursday, September 19th. Barclays decreased their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research report on Wednesday, November 27th. Loop Capital cut their price target on Workday from $270.00 to $242.00 and set a “hold” rating on the stock in a research report on Wednesday, November 27th. Bank of America decreased their price objective on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $289.21.

Workday Stock Performance

NASDAQ WDAY opened at $274.82 on Friday. 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 stock’s 50 day simple moving average is $252.43 and its 200-day simple moving average is $238.12. The company has a market cap of $72.83 billion, a PE ratio of 45.58, a price-to-earnings-growth ratio of 5.02 and a beta of 1.34. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the firm posted $0.47 EPS. The firm’s revenue for the quarter was up 15.8% on a year-over-year basis. As a group, equities research analysts anticipate that Workday, Inc. will post 2.58 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.