Workday, Inc. (NASDAQ:WDAY) Shares Sold by Sheets Smith Wealth Management

Sheets Smith Wealth Management lessened its position in shares of Workday, Inc. (NASDAQ:WDAY) by 6.1% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,487 shares of the software maker’s stock after selling 96 shares during the period. Sheets Smith Wealth Management’s holdings in Workday were worth $411,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wellington Management Group LLP boosted its position in Workday by 37.4% during the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker’s stock worth $1,109,348,000 after purchasing an additional 1,406,153 shares in the last quarter. Winslow Capital Management LLC lifted its position in shares of Workday by 76.4% during the 3rd quarter. Winslow Capital Management LLC now owns 2,310,619 shares of the software maker’s stock valued at $496,436,000 after buying an additional 1,000,922 shares in the last quarter. Morgan Stanley grew its stake in Workday by 47.0% in the 3rd quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after acquiring an additional 872,288 shares during the period. Alkeon Capital Management LLC purchased a new stake in Workday in the 3rd quarter worth $107,425,000. Finally, Invesco Ltd. raised its position in Workday by 22.1% during the third quarter. Invesco Ltd. now owns 1,802,209 shares of the software maker’s stock worth $387,205,000 after acquiring an additional 326,283 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently issued reports on the stock. Stifel Nicolaus lifted their target price on shares of Workday from $250.00 to $290.00 and gave the company a “hold” rating in a research report on Tuesday, February 27th. Barclays decreased their target price on Workday from $326.00 to $316.00 and set an “overweight” rating on the stock in a research report on Tuesday, February 27th. JPMorgan Chase & Co. boosted their price target on Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a research report on Thursday, February 22nd. The Goldman Sachs Group raised their price objective on Workday from $270.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. Finally, JMP Securities reaffirmed a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Tuesday, February 27th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $293.61.

Insider Buying and Selling at Workday

In related news, insider Richard Harry Sauer sold 8,447 shares of the business’s stock in a transaction on Monday, April 8th. The shares were sold at an average price of $268.21, for a total transaction of $2,265,569.87. Following the completion of the transaction, the insider now owns 66,356 shares in the company, valued at $17,797,342.76. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In related news, insider Richard Harry Sauer sold 8,447 shares of the company’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $268.21, for a total value of $2,265,569.87. Following the completion of the transaction, the insider now directly owns 66,356 shares of the company’s stock, valued at $17,797,342.76. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, April 12th. The stock was sold at an average price of $264.89, for a total transaction of $14,833,840.00. Following the sale, the insider now directly owns 843,000 shares in the company, valued at approximately $223,302,270. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock valued at $117,731,569 in the last quarter. Corporate insiders own 21.09% of the company’s stock.

Workday Stock Performance

Shares of Workday stock opened at $250.00 on Tuesday. The stock has a market capitalization of $66 billion, a price-to-earnings ratio of 48.53, a price-to-earnings-growth ratio of 6.39 and a beta of 1.33. The company has a debt-to-equity ratio of 0.37, a current ratio of 1.97 and a quick ratio of 1.97. The business has a 50-day moving average of $266.93 and a 200 day moving average of $265.79. Workday, Inc. has a 12 month low of $174.25 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 earnings per share for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. The business had revenue of $1.92 billion for the quarter, compared to analyst estimates of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company’s revenue was up 16.8% on a year-over-year basis. During the same quarter in the prior year, the company earned ($0.14) earnings per share. As a group, sell-side analysts forecast that Workday, Inc. will post 1.76 earnings per share for the current year.

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.