Washington Trust Advisors Inc. Reduces Holdings in Workday, Inc. (NASDAQ:WDAY)

Washington Trust Advisors Inc. trimmed its stake in Workday, Inc. (NASDAQ:WDAY) by 24.3% in the 4th quarter, HoldingsChannel reports. The firm owned 327 shares of the software maker’s stock after selling 105 shares during the quarter. Washington Trust Advisors Inc.’s holdings in Workday were worth $84,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Janus Henderson Group PLC increased its stake in shares of Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock worth $1,218,415,000 after acquiring an additional 480,459 shares in the last quarter. State Street Corp increased its stake in shares of Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after acquiring an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company increased its stake in shares of Workday by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after acquiring an additional 14,159 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of Workday by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock worth $482,133,000 after acquiring an additional 75,747 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Performance

WDAY opened at $253.76 on Friday. 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 $67.50 billion, a price-to-earnings ratio of 42.08, a PEG ratio of 3.55 and a beta of 1.35. The company’s 50 day moving average is $258.67 and its 200 day moving average is $255.48. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00.

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

Insider Buying and Selling at Workday

In other Workday news, CAO Mark S. Garfield sold 472 shares of Workday stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the transaction, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at $8,789,681.92. The trade was a 1.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 57,000 shares of Workday stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total transaction of $15,692,670.00. Following the transaction, the insider now directly owns 284,000 shares in the company, valued at $78,188,040. This represents a 16.72 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 435,829 shares of company stock valued at $113,033,319 over the last 90 days. 20.00% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

WDAY has been the subject of several research reports. Loop Capital increased their price target on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research note on Wednesday, February 19th. Oppenheimer raised their price objective on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research note on Wednesday, February 26th. Citigroup reduced their price objective on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research note on Thursday, January 16th. Barclays reduced their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating for the company in a research note on Wednesday, November 27th. Finally, Scotiabank raised their price objective on shares of Workday from $340.00 to $355.00 and gave the company a “sector outperform” rating in a research note on Thursday, February 27th. Ten 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, Workday has an average rating of “Moderate Buy” and an average price target of $302.14.

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.