Workday, Inc. (NASDAQ:WDAY) Shares Sold by First Citizens Bank & Trust Co.

First Citizens Bank & Trust Co. lowered its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 50.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 1,113 shares of the software maker's stock after selling 1,116 shares during the quarter. First Citizens Bank & Trust Co.'s holdings in Workday were worth $260,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of the company. Brighton Jones LLC boosted its stake in Workday by 230.2% during the fourth quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock worth $1,033,000 after buying an additional 2,792 shares during the period. Union Bancaire Privee UBP SA purchased a new position in Workday during the fourth quarter worth about $8,984,000. Stratos Wealth Partners LTD. boosted its stake in Workday by 60.3% during the fourth quarter. Stratos Wealth Partners LTD. now owns 1,407 shares of the software maker's stock worth $363,000 after buying an additional 529 shares during the period. Empowered Funds LLC boosted its stake in Workday by 35.2% during the fourth quarter. Empowered Funds LLC now owns 9,936 shares of the software maker's stock worth $2,564,000 after buying an additional 2,587 shares during the period. Finally, Summit Trail Advisors LLC boosted its stake in Workday by 74.1% during the fourth quarter. Summit Trail Advisors LLC now owns 1,877 shares of the software maker's stock worth $484,000 after buying an additional 799 shares during the period. Hedge funds and other institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

WDAY has been the topic of several research reports. JPMorgan Chase & Co. reduced their price target on shares of Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. JMP Securities reissued a "market outperform" rating and set a $315.00 price target on shares of Workday in a research report on Friday, May 23rd. Morgan Stanley set a $255.00 price target on shares of Workday and gave the stock an "equal weight" rating in a research report on Friday, May 23rd. Daiwa America raised shares of Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. Finally, Mizuho reduced their price target on shares of Workday from $320.00 to $275.00 and set an "outperform" rating on the stock in a research report on Tuesday, April 15th. Nine analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus target price of $293.54.

Workday Stock Performance

Shares of WDAY traded down $6.15 during mid-day trading on Friday, reaching $244.54. 2,199,157 shares of the company's stock were exchanged, compared to its average volume of 2,465,463. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market capitalization of $65.29 billion, a PE ratio of 40.55, a price-to-earnings-growth ratio of 3.55 and a beta of 1.24. The business's fifty day simple moving average is $245.50 and its 200-day simple moving average is $252.47. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $2.01 by $0.22. The business had revenue of $2.24 billion for the quarter, compared to analyst estimates of $2.22 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. The company's revenue for the quarter was up 12.6% compared to the same quarter last year. During the same period last year, the firm posted $1.74 earnings per share. On average, equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 70,144 shares of Workday stock in a transaction on Monday, March 24th. The shares were sold at an average price of $250.26, for a total value of $17,554,237.44. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at $25,776,029.22. This trade represents a 40.51% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Thursday, June 5th. The shares were sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the completion of the transaction, the director now owns 67,500 shares in the company, valued at approximately $16,767,675. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 237,338 shares of company stock worth $56,281,251 in the last three months. Insiders own 19.31% of the company's stock.

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.