Loomis Sayles & Co. L P Sells 72,594 Shares of Workday, Inc. (NASDAQ:WDAY)

Loomis Sayles & Co. L P decreased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 3.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 2,178,935 shares of the software maker’s stock after selling 72,594 shares during the period. Loomis Sayles & Co. L P’s holdings in Workday were worth $532,554,000 at the end of the most recent quarter.

Several other institutional investors have also bought and sold shares of the stock. ORG Partners LLC increased its position in shares of Workday by 3,717.9% during the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after acquiring an additional 3,123 shares during the last quarter. Grafton Street Partners Fund LP bought a new position in Workday in the 3rd quarter valued at $4,424,000. ICICI Prudential Asset Management Co Ltd increased its position in shares of Workday by 32.4% during 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 purchasing an additional 7,802 shares during the last quarter. Legal & General Group Plc raised its stake in shares of Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock worth $384,518,000 after purchasing an additional 118,180 shares during the period. Finally, Atria Investments Inc boosted its holdings in shares of Workday by 19.3% in the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after buying an additional 7,175 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Insider Transactions at Workday

In related news, insider Richard Harry Sauer sold 3,134 shares of the business’s stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total transaction of $738,934.52. Following the transaction, the insider now owns 85,795 shares in the company, valued at $20,228,745.10. The trade was a 3.52 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,902,816.40. The trade was a 39.23 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 359,954 shares of company stock worth $88,742,132. Insiders own 20.00% of the company’s stock.

Workday Stock Down 0.1 %

Shares of NASDAQ:WDAY opened at $267.75 on Monday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The stock’s 50-day moving average price is $247.71 and its 200-day moving average price is $236.89. The stock has a market capitalization of $70.95 billion, a P/E ratio of 46.65, a price-to-earnings-growth ratio of 5.31 and a beta of 1.35.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the company earned $0.40 EPS. Workday’s revenue for the quarter was up 16.5% compared to the same quarter last year. On average, equities analysts anticipate that Workday, Inc. will post 2.4 earnings per share for the current year.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. KeyCorp raised their price objective on shares of Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Deutsche Bank Aktiengesellschaft lifted their price target on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a report on Friday, August 23rd. Morgan Stanley reduced their price objective on Workday from $325.00 to $315.00 and set an “overweight” rating for the company in a report on Friday, August 23rd. Citigroup lowered their target price on Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. 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 for the company. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have assigned a buy rating to the stock. Based on data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and an average price target of $289.46.

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.