ABN Amro Investment Solutions Sells 44,522 Shares of Workday, Inc. $WDAY

Key Points

• ABN Amro Investment Solutions cut its Workday stake by 22.5% in the fourth quarter, selling 44,522 shares and ending with 153,464 shares valued at about $33 million.
• Workday’s latest quarterly results topped expectations, with earnings per share of $2.47 versus estimates of $2.32 and revenue of $2.53 billion, up 14.5% year over year.
• Despite recent selling by some insiders and institutions, analysts remain broadly positive on the stock, with a consensus rating of Moderate Buy and an average price target of $198.42.

ABN Amro Investment Solutions reduced its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 22.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 153,464 shares of the software maker's stock after selling 44,522 shares during the period. ABN Amro Investment Solutions owned 0.06% of Workday worth $32,961,000 at the end of the most recent reporting period.

A number of other institutional investors also recently bought and sold shares of WDAY. Rakuten Securities Inc. bought a new position in shares of Workday during the second quarter valued at approximately $25,000. Measured Wealth Private Client Group LLC bought a new position in shares of Workday during the third quarter valued at approximately $26,000. LRI Investments LLC bought a new position in shares of Workday during the fourth quarter valued at approximately $29,000. JPL Wealth Management LLC bought a new position in shares of Workday during the third quarter valued at approximately $30,000. Finally, eCIO Inc. bought a new position in shares of Workday during the fourth quarter valued at approximately $36,000. 89.81% of the stock is owned by institutional investors.

Workday Trading Down 2.1%

Shares of WDAY stock opened at $126.61 on Thursday. Workday, Inc. has a 12-month low of $110.36 and a 12-month high of $274.11. The company has a current ratio of 1.32, a quick ratio of 1.32 and a debt-to-equity ratio of 0.38. The firm's 50 day moving average is $126.51 and its 200 day moving average is $170.40. The stock has a market capitalization of $32.54 billion, a P/E ratio of 49.07, a P/E/G ratio of 1.26 and a beta of 1.04.

Workday (NASDAQ:WDAY - Get Free Report) last issued its earnings results on Tuesday, February 24th. The software maker reported $2.47 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.32 by $0.15. The company had revenue of $2.53 billion for 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 earnings per share. Research analysts expect that Workday, Inc. will post 5.11 earnings per share for the current year.

Insider Buying and Selling at Workday

In related news, insider Gerrit S. Kazmaier sold 9,356 shares of Workday stock in a transaction on Tuesday, April 7th. The shares were sold at an average price of $128.39, for a total transaction of $1,201,216.84. Following the transaction, the insider owned 165,074 shares in the company, valued at approximately $21,193,850.86. The trade was a 5.36% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed 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 on Tuesday, March 31st. The shares were sold at an average price of $129.76, for a total transaction of $13,949,200.00. Following the transaction, the insider owned 105,049 shares in the company, valued at approximately $13,631,158.24. This trade represents a 50.58% 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. Insiders have sold a total of 989,814 shares of company stock worth $131,576,291 in the last quarter. Corporate insiders own 18.64% of the company's stock.

Analysts Set New Price Targets

A number of equities analysts have weighed in on WDAY shares. Raymond James Financial reaffirmed a "market perform" rating on shares of Workday in a research note on Monday, February 9th. Rosenblatt Securities cut their price target on shares of Workday from $180.00 to $150.00 and set a "buy" rating on the stock in a report on Wednesday, February 25th. Royal Bank Of Canada cut their price target on shares of Workday from $220.00 to $180.00 and set an "outperform" rating on the stock in a report on Wednesday, February 25th. Barclays cut their price target on shares of Workday from $230.00 to $200.00 and set an "overweight" rating on the stock in a report on Wednesday, February 25th. Finally, Mizuho cut their price target on shares of Workday from $275.00 to $210.00 and set an "outperform" rating on the stock in a report on Wednesday, February 25th. Nineteen research analysts have rated the stock with a Buy rating, thirteen have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $198.42.

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.

Want to see what other hedge funds are holding WDAY? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Workday, Inc. (NASDAQ:WDAY - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.