Workday, Inc. $WDAY Shares Sold by Principal Financial Group Inc.

Principal Financial Group Inc. lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 27.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 246,844 shares of the software maker’s stock after selling 94,650 shares during the quarter. Principal Financial Group Inc.’s holdings in Workday were worth $53,017,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. First Eagle Investment Management LLC acquired a new position in Workday in the third quarter valued at about $556,252,000. PKO Investment Management Joint Stock Co purchased a new stake in Workday during the third quarter worth about $1,805,000. Phoenix Financial Ltd. purchased a new stake in shares of Workday during the third quarter worth approximately $2,000,000. Rakuten Investment Management Inc. purchased a new stake in shares of Workday during the third quarter worth approximately $124,718,000. Finally, EULAV Asset Management increased its stake in shares of Workday by 69.4% during the third quarter. EULAV Asset Management now owns 61,000 shares of the software maker’s stock worth $14,685,000 after buying an additional 25,000 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. UBS Group dropped their price target on shares of Workday from $170.00 to $130.00 and set a “neutral” rating on the stock in a research note on Wednesday, February 25th. KeyCorp decreased their price objective on Workday from $260.00 to $155.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Oppenheimer decreased their price objective on Workday from $200.00 to $165.00 and set an “outperform” rating for the company in a report on Wednesday, February 25th. BTIG Research decreased their price objective on Workday from $230.00 to $175.00 and set a “buy” rating for the company in a report on Wednesday, February 25th. Finally, Citigroup decreased their price target on Workday from $247.00 to $148.00 and set a “neutral” rating for the company in a report on Thursday, February 26th. Nineteen equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $199.71.

Insider Activity

In related news, insider Robert Enslin sold 5,373 shares of Workday stock in a transaction dated Monday, April 6th. The stock was sold at an average price of $129.41, for a total transaction of $695,319.93. Following the completion of the sale, the insider owned 165,414 shares in the company, valued at approximately $21,406,225.74. This trade represents a 3.15% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 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, insider Gerrit S. Kazmaier sold 9,356 shares of Workday stock in a transaction dated Tuesday, April 7th. The stock was sold at an average price of $128.39, for a total value of $1,201,216.84. Following the sale, the insider owned 165,074 shares of the company’s stock, valued at approximately $21,193,850.86. This represents a 5.36% decrease in their position. The SEC filing for this sale provides additional information. 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. Insiders have sold a total of 989,814 shares of company stock worth $131,576,291 in the last quarter. Corporate insiders own 19.31% of the company’s stock.

Workday Trading Down 2.3%

Shares of WDAY stock opened at $127.83 on Friday. Workday, Inc. has a fifty-two week low of $110.36 and a fifty-two week high of $276.00. The stock has a market cap of $32.85 billion, a P/E ratio of 49.55, a P/E/G ratio of 1.27 and a beta of 1.04. The business has a fifty day simple moving average of $129.72 and a 200-day simple moving average of $177.74. The company has a quick ratio of 1.32, a current ratio of 1.32 and a debt-to-equity ratio of 0.38.

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

Workday Company Profile

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.