Sustainable Growth Advisers LP Lowers Stock Position in Workday, Inc. (NASDAQ:WDAY)

Sustainable Growth Advisers LP trimmed its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 30.1% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,858,544 shares of the software maker's stock after selling 798,766 shares during the quarter. Workday accounts for 2.4% of Sustainable Growth Advisers LP's holdings, making the stock its 19th biggest holding. Sustainable Growth Advisers LP owned 0.70% of Workday worth $434,026,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. raised its stake in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after acquiring an additional 4,517,272 shares in the last quarter. Geode Capital Management LLC increased its position in Workday by 61.9% during the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after purchasing an additional 1,772,223 shares in the last quarter. The Manufacturers Life Insurance Company lifted its stake in Workday by 60.7% in the 4th 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. Brown Advisory Inc. boosted its position in Workday by 1.5% in the fourth quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock valued at $911,027,000 after buying an additional 52,104 shares in the last quarter. Finally, FIL Ltd grew its stake in shares of Workday by 6.5% during the fourth quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock worth $764,575,000 after buying an additional 181,899 shares during the last quarter. Institutional investors own 89.81% of the company's stock.

Analyst Ratings Changes

Several equities research analysts recently weighed in on WDAY shares. KeyCorp cut their price objective on Workday from $335.00 to $325.00 and set an "overweight" rating on the stock in a 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 note on Friday, May 23rd. Wells Fargo & Company lowered their price objective on Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a research note on Tuesday, April 22nd. DA Davidson raised their price objective on shares of Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. Finally, Wall Street Zen raised shares of Workday from a "hold" rating to a "buy" rating in a report on Sunday, July 13th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and an average target price of $296.88.

Workday Stock Down 1.6%

NASDAQ WDAY traded down $3.83 on Thursday, hitting $237.20. 2,115,081 shares of the company were exchanged, compared to its average volume of 2,141,538. 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 company has a market cap of $63.33 billion, a PE ratio of 131.05, a PEG ratio of 3.64 and a beta of 1.21. The stock has a fifty day moving average of $243.95 and a 200-day moving average of $246.90. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data 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. Workday had a net margin of 5.60% and a return on equity of 8.00%. The company had revenue of $2.24 billion for the quarter, compared to analysts' expectations of $2.22 billion. During the same quarter in the prior year, the firm earned $1.74 EPS. The business's revenue was up 12.6% on a year-over-year basis. As a group, analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 72,551 shares of the stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total value of $17,383,945.11. Following the transaction, the insider directly owned 102,997 shares in the company, valued at $24,679,111.17. This trade represents a 41.33% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Mark S. Garfield sold 451 shares of the company's stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total transaction of $105,921.86. Following the transaction, the chief accounting officer owned 42,977 shares in the company, valued at approximately $10,093,578.22. The trade was a 1.04% decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 329,005 shares of company stock valued at $79,203,523. Company 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.