USS Investment Management Ltd Trims Stock Position in Workday, Inc. (NASDAQ:WDAY)

USS Investment Management Ltd lowered its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 4.0% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 36,122 shares of the software maker's stock after selling 1,514 shares during the quarter. USS Investment Management Ltd's holdings in Workday were worth $9,322,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. increased its stake in Workday by 28.9% in the 4th quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after buying an additional 4,517,272 shares during the period. Geode Capital Management LLC increased its position in shares of Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock worth $1,193,105,000 after acquiring an additional 1,772,223 shares during the period. The Manufacturers Life Insurance Company raised its stake in shares of 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 acquiring an additional 1,406,088 shares in the last quarter. Brown Advisory Inc. boosted its holdings in shares of 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 purchasing an additional 52,104 shares during the period. Finally, FIL Ltd grew its stake in Workday by 6.5% in the fourth quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock worth $764,575,000 after purchasing an additional 181,899 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Workday Stock Up 0.7%

NASDAQ WDAY traded up $1.61 during trading on Tuesday, hitting $239.62. The company's stock had a trading volume of 1,676,332 shares, compared to its average volume of 2,540,123. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00. The company has a market cap of $63.74 billion, a PE ratio of 39.76, a P/E/G ratio of 3.55 and a beta of 1.30. 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 business's 50 day simple moving average is $242.28 and its 200-day simple moving average is $254.06.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating the consensus estimate of $2.01 by $0.22. The firm had revenue of $2.24 billion during 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%. Workday's revenue was up 12.6% on a year-over-year basis. During the same period last year, the firm posted $1.74 EPS. On average, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In related news, CAO Mark S. Garfield sold 497 shares of Workday stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the sale, the chief accounting officer now owns 34,385 shares of the company's stock, valued at $7,789,921.75. The trade was a 1.42% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction that occurred on Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the transaction, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. This trade represents a 5.16% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 321,724 shares of company stock worth $77,976,126. 19.31% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. DA Davidson lifted their target price on Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Friday. Canaccord Genuity Group upped their price objective on shares of Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research note on Wednesday, February 26th. Citigroup downgraded shares of Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. Needham & Company LLC restated a "buy" rating and issued a $300.00 price target on shares of Workday in a report on Wednesday, May 21st. Finally, Westpark Capital increased their price objective on shares of Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research note on Friday. Nine research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Workday presently has an average rating of "Moderate Buy" and an average price target of $293.54.

Workday Profile

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.