Workday, Inc. (NASDAQ:WDAY) Stock Position Lessened by TIAA Trust National Association

TIAA Trust National Association reduced its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 9.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 5,431 shares of the software maker’s stock after selling 592 shares during the quarter. TIAA Trust National Association’s holdings in Workday were worth $1,401,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of WDAY. Vanguard Group Inc. increased its position in shares of Workday by 28.9% during 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 purchasing an additional 4,517,272 shares during the period. Janus Henderson Group PLC boosted its stake in Workday by 10.7% during the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after buying an additional 480,459 shares in the last quarter. State Street Corp grew its holdings in Workday by 1.4% during the third 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 during the period. Geode Capital Management LLC raised its position in Workday by 2.7% in the third 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. Finally, Parnassus Investments LLC lifted its holdings in Workday by 562.2% in the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after acquiring an additional 2,078,097 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 71,672 shares of Workday stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $25,602,994.26. The trade was a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total value of $117,169.28. Following the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. The trade was a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 487,145 shares of company stock worth $123,289,438. 20.00% of the stock is owned by insiders.

Workday Price Performance

NASDAQ WDAY opened at $244.55 on Friday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The stock’s 50-day moving average is $256.89 and its two-hundred day moving average is $254.93. The firm has a market cap of $65.05 billion, a P/E ratio of 40.56, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

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

Wall Street Analysts Forecast Growth

WDAY has been the topic of several recent research reports. Loop Capital lifted their price objective 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. Guggenheim reaffirmed a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. Daiwa America raised Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Citigroup decreased their target price on Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a report on Thursday, January 16th. Finally, Wells Fargo & Company upped their target price on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $300.36.

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.