Fmr LLC Has $792.02 Million Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Fmr LLC cut its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 3.8% during the third quarter, Holdings Channel reports. The firm owned 3,240,548 shares of the software maker’s stock after selling 126,493 shares during the quarter. Fmr LLC’s holdings in Workday were worth $792,022,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of the stock. The Manufacturers Life Insurance Company raised its position in shares of Workday by 0.6% during the third quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock worth $566,094,000 after purchasing an additional 14,159 shares during the period. Bank of Montreal Can raised its position in shares of Workday by 21.1% during the third quarter. Bank of Montreal Can now owns 273,184 shares of the software maker’s stock worth $66,553,000 after purchasing an additional 47,546 shares during the period. Mirabella Financial Services LLP raised its position in shares of Workday by 65.6% during the third quarter. Mirabella Financial Services LLP now owns 9,792 shares of the software maker’s stock worth $2,357,000 after purchasing an additional 3,878 shares during the period. DRW Securities LLC acquired a new stake in shares of Workday during the third quarter worth $973,000. Finally, Independent Advisor Alliance raised its position in shares of Workday by 4.2% during the third quarter. Independent Advisor Alliance now owns 1,604 shares of the software maker’s stock worth $392,000 after purchasing an additional 64 shares during the period. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction that occurred on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the completion of the transaction, the director now owns 90,000 shares of the company’s stock, valued at $22,990,500. This represents a 7.69 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, 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 completion of the transaction, the insider now directly owns 102,997 shares of the company’s stock, valued at approximately $26,902,816.40. This trade represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 359,954 shares of company stock worth $88,742,132 in the last 90 days. 20.00% of the stock is owned by company insiders.

Workday Price Performance

Shares of NASDAQ:WDAY opened at $253.40 on Thursday. The business has a 50 day moving average price of $248.62 and a 200 day moving average price of $237.33. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a market cap of $67.15 billion, a price-to-earnings ratio of 44.15, a PEG ratio of 5.31 and a beta of 1.35. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. During the same quarter in the prior year, the company earned $0.47 EPS. The firm’s revenue for the quarter was up 15.8% compared to the same quarter last year. Research analysts predict that Workday, Inc. will post 2.4 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft boosted their target price on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. Bank of America dropped their price target on Workday from $310.00 to $285.00 and set a “buy” rating on the stock in a research report on Wednesday. JMP Securities reissued a “market outperform” rating and set a $315.00 price target on shares of Workday in a research report on Thursday, September 19th. Wells Fargo & Company upped their price target on Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a research report on Friday, August 23rd. Finally, Barclays dropped their price target on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and twenty-one have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $288.14.

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.