Sei Investments Co. Sells 47,311 Shares of Workday, Inc. (NASDAQ:WDAY)

Sei Investments Co. decreased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 6.3% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 699,500 shares of the software maker’s stock after selling 47,311 shares during the period. Sei Investments Co.’s holdings in Workday were worth $180,493,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in WDAY. Roxbury Financial LLC bought a new stake in Workday during the 4th quarter worth approximately $25,000. Crews Bank & Trust bought a new stake in shares of Workday during the fourth quarter valued at approximately $26,000. Avion Wealth raised its position in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after buying an additional 86 shares during the last quarter. TCTC Holdings LLC bought a new stake in shares of Workday during the fourth quarter valued at approximately $35,000. Finally, True Wealth Design LLC raised its position in shares of Workday by 4,766.7% during the third quarter. True Wealth Design LLC now owns 146 shares of the software maker’s stock valued at $36,000 after buying an additional 143 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WDAY. Guggenheim reiterated a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. Stifel Nicolaus lifted their price objective on shares of Workday from $270.00 to $310.00 and gave the company a “hold” rating in a research report on Wednesday, February 26th. Bank of America reduced their price objective on shares of Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday, November 27th. Scotiabank cut their target price on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating for the company in a report on Monday, March 17th. Finally, Royal Bank of Canada raised their target price on shares of Workday from $320.00 to $340.00 and gave the company an “outperform” rating in a report on Wednesday, February 26th. Ten 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 stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

Workday Stock Down 0.4 %

Shares of WDAY opened at $249.49 on Friday. The firm has a market capitalization of $66.36 billion, a P/E ratio of 41.37, a P/E/G ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. 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 firm has a fifty day moving average price of $256.76 and a 200-day moving average price of $255.15.

Workday (NASDAQ:WDAY) last issued its earnings results 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). The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity

In related news, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction dated Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total value of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. The trade was a 21.09 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction dated Monday, December 23rd. The shares were sold at an average price of $265.70, for a total value of $14,879,200.00. Following the completion of the sale, the insider now owns 228,000 shares of the company’s stock, valued at $60,579,600. The trade was a 19.72 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 473,001 shares of company stock valued at $120,614,400. 20.00% of the stock is currently owned by company insiders.

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.