Workday, Inc. (NASDAQ:WDAY) Shares Sold by TTP Investments Inc.

TTP Investments Inc. decreased its holdings in Workday, Inc. (NASDAQ:WDAYFree Report) by 41.2% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 1,482 shares of the software maker’s stock after selling 1,040 shares during the quarter. Workday accounts for about 0.2% of TTP Investments Inc.’s holdings, making the stock its 27th largest holding. TTP Investments Inc.’s holdings in Workday were worth $409,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Morgan Stanley raised its holdings in shares of Workday by 47.0% during the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after acquiring an additional 872,288 shares during the last quarter. QRG Capital Management Inc. acquired a new position in shares of Workday during the third quarter valued at approximately $345,000. Assenagon Asset Management S.A. raised its holdings in shares of Workday by 58.8% during the fourth quarter. Assenagon Asset Management S.A. now owns 278,569 shares of the software maker’s stock valued at $76,902,000 after acquiring an additional 103,171 shares during the last quarter. Mariner LLC raised its holdings in shares of Workday by 21.1% during the third quarter. Mariner LLC now owns 28,304 shares of the software maker’s stock valued at $6,081,000 after acquiring an additional 4,927 shares during the last quarter. Finally, Orion Portfolio Solutions LLC raised its holdings in shares of Workday by 4,270.5% during the second quarter. Orion Portfolio Solutions LLC now owns 69,273 shares of the software maker’s stock valued at $18,301,000 after acquiring an additional 67,688 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Insiders Place Their Bets

In other news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the sale, the insider now owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, insider Douglas A. Robinson sold 3,121 shares of the business’s stock in a transaction that occurred on Wednesday, February 28th. The stock was sold at an average price of $293.79, for a total transaction of $916,918.59. Following the sale, the insider now owns 165,932 shares of the company’s stock, valued at approximately $48,749,162.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 65,524 shares of the business’s stock in a transaction that occurred on Friday, January 5th. The stock was sold at an average price of $265.66, for a total value of $17,407,105.84. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $27,362,183.02. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 463,484 shares of company stock worth $126,630,341. Company insiders own 21.09% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock traded down $0.78 during mid-day trading on Tuesday, hitting $271.66. 1,588,594 shares of the stock were exchanged, compared to its average volume of 1,853,555. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The stock’s fifty day simple moving average is $286.56 and its two-hundred day simple moving average is $259.32. Workday, Inc. has a 12-month low of $174.25 and a 12-month high of $311.28. The stock has a market capitalization of $71.72 billion, a price-to-earnings ratio of 52.75, a P/E/G ratio of 6.81 and a beta of 1.32.

Workday (NASDAQ:WDAYGet Free Report) last released its earnings results on Monday, February 26th. The software maker reported $1.57 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same quarter in the previous year, the firm posted ($0.14) EPS. The firm’s quarterly revenue was up 16.8% on a year-over-year basis. On average, analysts forecast that Workday, Inc. will post 1.76 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the company. Evercore ISI increased their target price on Workday from $310.00 to $350.00 and gave the company an “outperform” rating in a report on Tuesday, February 20th. Guggenheim restated a “sell” rating and issued a $190.00 price target on shares of Workday in a research report on Tuesday, February 27th. Morgan Stanley dropped their price target on Workday from $335.00 to $330.00 and set an “overweight” rating for the company in a research report on Tuesday, February 27th. BMO Capital Markets upped their price target on Workday from $290.00 to $338.00 and gave the company an “outperform” rating in a research report on Tuesday, February 13th. Finally, The Goldman Sachs Group increased their price objective on Workday from $270.00 to $310.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. One 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 company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $293.61.

Check Out Our Latest Stock Analysis on WDAY

About Workday

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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