Workday, Inc. $WDAY Shares Sold by Securian Asset Management Inc.

Securian Asset Management Inc. lowered its position in Workday, Inc. (NASDAQ:WDAY) by 43.0% during the fourth quarter, according to its most recent filing with the SEC. The institutional investor owned 5,900 shares of the software maker’s stock after selling 4,453 shares during the period. Securian Asset Management Inc.’s holdings in Workday were worth $1,267,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Rakuten Securities Inc. acquired a new stake in shares of Workday in the second quarter valued at about $25,000. Measured Wealth Private Client Group LLC purchased a new stake in Workday during the 3rd quarter valued at about $26,000. LRI Investments LLC acquired a new stake in Workday in the 4th quarter valued at about $29,000. JPL Wealth Management LLC purchased a new position in Workday in the 3rd quarter worth approximately $30,000. Finally, eCIO Inc. acquired a new position in shares of Workday during the 4th quarter worth approximately $36,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Price Performance

Workday stock opened at $118.62 on Wednesday. The company’s 50 day simple moving average is $128.95 and its 200-day simple moving average is $175.19. The company has a market capitalization of $30.49 billion, a price-to-earnings ratio of 45.98, a price-to-earnings-growth ratio of 1.18 and a beta of 1.04. Workday, Inc. has a 1 year low of $110.36 and a 1 year high of $276.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 24th. The software maker reported $2.47 earnings per share for the quarter, topping analysts’ consensus estimates of $2.32 by $0.15. The firm had revenue of $2.53 billion during the quarter, compared to analysts’ expectations of $2.52 billion. Workday had a net margin of 7.26% and a return on equity of 13.37%. The firm’s quarterly revenue was up 14.5% on a year-over-year basis. During the same quarter last year, the company posted $1.92 EPS. As a group, equities research analysts expect that Workday, Inc. will post 5.11 earnings per share for the current year.

Analysts Set New Price Targets

Several equities research analysts recently commented on WDAY shares. KeyCorp cut their price target on Workday from $260.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Mizuho dropped their target price on Workday from $275.00 to $210.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. Citigroup reduced their price target on Workday from $247.00 to $148.00 and set a “neutral” rating on the stock in a report on Thursday, February 26th. Barclays dropped their price objective on shares of Workday from $230.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Finally, Wall Street Zen upgraded shares of Workday from a “hold” rating to a “buy” rating in a research report on Saturday, March 28th. Nineteen investment analysts have rated the stock with a Buy rating, fourteen have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $199.71.

Insider Buying and Selling at Workday

In related news, insider Gerrit S. Kazmaier sold 9,356 shares of the firm’s stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the completion of the transaction, the insider directly owned 165,074 shares in the company, valued at $21,193,850.86. This trade represents a 5.36% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. The sale was made to cover tax withholding obligations related to the vesting of equity awards. Also, major shareholder David A. Duffield sold 107,500 shares of Workday stock in a transaction dated Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total value of $13,949,200.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $13,631,158.24. This represents a 50.58% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders have sold 989,814 shares of company stock valued at $131,576,291. Company insiders own 18.64% of the company’s stock.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.