Price T Rowe Associates Inc. MD Trims Holdings in Workday, Inc. (NASDAQ:WDAY)

Price T Rowe Associates Inc. MD lowered its position in shares of Workday, Inc. (NASDAQ:WDAY) by 47.0% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 846,664 shares of the software maker’s stock after selling 751,413 shares during the quarter. Price T Rowe Associates Inc. MD owned about 0.32% of Workday worth $218,466,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock valued at $5,197,447,000 after buying an additional 4,517,272 shares during the period. Geode Capital Management LLC raised its stake in Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker’s stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares in the last quarter. FIL Ltd raised its position in shares of Workday by 6.5% during the 4th quarter. FIL Ltd now owns 2,963,124 shares of the software maker’s stock worth $764,575,000 after buying an additional 181,899 shares in the last quarter. Clearbridge Investments LLC boosted its stake in Workday by 5.4% during the 4th quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker’s stock valued at $687,237,000 after purchasing an additional 136,211 shares in the last quarter. Finally, Norges Bank bought a new position in Workday during the fourth quarter valued at about $645,710,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on WDAY shares. Scotiabank reduced their price objective on Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a research note on Monday, March 17th. StockNews.com downgraded Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. JPMorgan Chase & Co. lifted their price objective on Workday from $285.00 to $310.00 and gave the company an “overweight” rating in a research report on Wednesday, February 26th. Morgan Stanley cut their price objective on shares of Workday from $275.00 to $250.00 and set an “equal weight” rating on the stock in a research report on Wednesday, April 16th. Finally, Citigroup reduced their price target on 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 assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, Workday presently has an average rating of “Moderate Buy” and a consensus price target of $292.86.

Insider Activity

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the sale, the insider now directly owns 111,324 shares in the company, valued at $29,556,522. This trade represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this link. Also, CAO Mark S. Garfield sold 497 shares of the company’s stock in a transaction on Thursday, April 10th. The stock was sold at an average price of $226.55, for a total value of $112,595.35. Following the completion of the sale, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $7,789,921.75. The trade was a 1.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 321,724 shares of company stock valued at $77,976,126. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Up 1.1 %

WDAY opened at $239.53 on Friday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a 50 day moving average of $240.73 and a 200 day moving average of $251.77. 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 company has a market cap of $63.71 billion, a PE ratio of 39.72, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. On average, sell-side analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Workday Company 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.