New England Research & Management Inc. Reduces Stock Position in Workday, Inc. (NASDAQ:WDAY)

New England Research & Management Inc. lessened its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 40.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 2,765 shares of the software maker’s stock after selling 1,915 shares during the period. New England Research & Management Inc.’s holdings in Workday were worth $713,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Sanctuary Advisors LLC raised its holdings in shares of Workday by 7.2% during the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after acquiring an additional 1,978 shares during the period. Grafton Street Partners Fund LP purchased a new stake in shares of Workday in the 3rd quarter valued at approximately $4,424,000. ICICI Prudential Asset Management Co Ltd grew its stake in shares of Workday by 32.4% in the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after buying an additional 7,802 shares during the period. Nordea Investment Management AB grew its stake in shares of Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after buying an additional 119,769 shares during the period. Finally, Atria Investments Inc raised its position in Workday by 19.3% in the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after purchasing an additional 7,175 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the transaction, the insider now owns 60,000 shares of the company’s stock, valued at $14,785,200. The trade was a 48.28 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 472 shares of the business’s 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 completion of the sale, the chief accounting officer now owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 438,819 shares of company stock worth $113,142,592. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Performance

Shares of Workday stock opened at $265.40 on Thursday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The firm’s 50 day moving average is $261.22 and its two-hundred day moving average is $248.48. The firm has a market capitalization of $70.60 billion, a P/E ratio of 44.01, a P/E/G ratio of 4.58 and a beta of 1.34.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, beating analysts’ consensus estimates of $1.76 by $0.13. Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. During the same period last year, the firm posted $0.47 EPS. The company’s revenue was up 15.8% on a year-over-year basis. Research analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have recently weighed in on the company. Bank of America lowered their price target on Workday from $310.00 to $285.00 and set a “buy” rating for the company in a report on Wednesday, November 27th. Loop Capital dropped their price target on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a research report on Wednesday, November 27th. Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a research note on Monday, January 6th. Wells Fargo & Company increased their price objective on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research report on Monday, December 9th. Finally, Scotiabank initiated coverage on Workday in a research note on Monday, November 18th. They set a “sector outperform” rating and a $340.00 price target on the stock. Eight equities research analysts have rated the stock with a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus target price of $292.25.

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.