Brown Advisory Inc. Sells 214,897 Shares of Workday, Inc. (NASDAQ:WDAY)

Brown Advisory Inc. lowered its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 6.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,315,804 shares of the software maker's stock after selling 214,897 shares during the quarter. Workday accounts for about 1.1% of Brown Advisory Inc.'s portfolio, making the stock its 20th largest position. Brown Advisory Inc. owned about 1.25% of Workday worth $774,340,000 as of its most recent SEC filing.

Several other institutional investors have also bought and sold shares of the business. Vanguard Group Inc. lifted its position in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock valued at $5,197,447,000 after purchasing an additional 4,517,272 shares during the last quarter. Geode Capital Management LLC lifted its position in Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after purchasing an additional 1,772,223 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in Workday by 60.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock valued at $960,454,000 after purchasing an additional 1,406,088 shares during the last quarter. FIL Ltd lifted its position in Workday by 6.5% during the fourth quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock valued at $764,575,000 after purchasing an additional 181,899 shares during the last quarter. Finally, Clearbridge Investments LLC lifted its position in Workday by 5.4% during the fourth quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker's stock valued at $687,237,000 after purchasing an additional 136,211 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Insider Buying and Selling

In other news, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the sale, the director directly owned 67,500 shares in the company, valued at $16,767,675. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total value of $1,496,437.50. Following the completion of the sale, the chief executive officer owned 1,472 shares of the company's stock, valued at $352,440.96. This trade represents a 80.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 250,500 shares of company stock valued at $60,388,711 over the last ninety days. 20.00% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

WDAY has been the topic of several recent analyst reports. Wall Street Zen downgraded shares of Workday from a "buy" rating to a "hold" rating in a research note on Saturday. Guggenheim reissued a "neutral" rating on shares of Workday in a research note on Friday, May 23rd. JMP Securities reissued a "market outperform" rating and issued a $315.00 target price on shares of Workday in a research note on Friday, May 23rd. JPMorgan Chase & Co. reduced their target price on shares of Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research note on Friday, May 23rd. Finally, Jefferies Financial Group reduced their price target on shares of Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research note on Monday, March 31st. Nine investment analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat, Workday presently has an average rating of "Moderate Buy" and an average target price of $297.68.

Workday Price Performance

NASDAQ:WDAY opened at $241.21 on Tuesday. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The stock has a 50 day moving average of $249.30 and a two-hundred day moving average of $249.20. The company has a current ratio of 2.07, a quick ratio of 2.07 and a debt-to-equity ratio of 0.33. The firm has a market cap of $64.40 billion, a P/E ratio of 133.27, a price-to-earnings-growth ratio of 3.65 and a beta of 1.21.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, topping the consensus estimate of $2.01 by $0.22. The company had revenue of $2.24 billion during the quarter, compared to analyst estimates of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. Workday's quarterly revenue was up 12.6% on a year-over-year basis. During the same period in the previous year, the business earned $1.74 EPS. On average, analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.

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