DekaBank Deutsche Girozentrale Trims Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

DekaBank Deutsche Girozentrale lowered its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 19.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 101,640 shares of the software maker's stock after selling 24,723 shares during the period. DekaBank Deutsche Girozentrale's holdings in Workday were worth $23,809,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of WDAY. Farmers & Merchants Investments Inc. bought a new stake in shares of Workday in the 1st quarter worth approximately $32,000. TCTC Holdings LLC bought a new stake in shares of Workday in the 4th quarter worth approximately $35,000. Financial Management Professionals Inc. lifted its holdings in shares of Workday by 54.0% in the 1st quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock worth $36,000 after acquiring an additional 54 shares during the last quarter. Rakuten Securities Inc. lifted its holdings in shares of Workday by 78.6% in the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after acquiring an additional 66 shares during the last quarter. Finally, Pinnacle Bancorp Inc. bought a new stake in shares of Workday in the 1st quarter worth approximately $40,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insiders Place Their Bets

In related news, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction 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 transaction, the director directly owned 67,500 shares in the company, valued at approximately $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 SEC, which can be accessed through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the company's stock in a transaction on Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total value of $1,437,540.00. Following the completion of the transaction, the chief financial officer owned 178,418 shares of the company's stock, valued at $42,747,168.62. The trade was a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 328,554 shares of company stock valued at $79,097,601 in the last three months. 19.31% of the stock is owned by corporate insiders.

Workday Stock Performance

Shares of Workday stock traded down $10.87 on Thursday, hitting $229.30. The stock had a trading volume of 4,155,441 shares, compared to its average volume of 2,479,475. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. 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 stock has a market cap of $61.22 billion, a price-to-earnings ratio of 126.69, a P/E/G ratio of 3.63 and a beta of 1.21. The company's 50 day moving average price is $249.15 and its 200 day moving average price is $249.07.

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

Analyst Upgrades and Downgrades

A number of research firms recently commented on WDAY. Stifel Nicolaus lowered their price target on shares of Workday from $310.00 to $275.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Oppenheimer lowered their price target on shares of Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, May 23rd. Loop Capital lowered their price target on shares of Workday from $285.00 to $250.00 and set a "hold" rating for the company in a report on Friday, May 23rd. Mizuho lowered their price target on shares of Workday from $320.00 to $275.00 and set an "outperform" rating for the company in a report on Tuesday, April 15th. Finally, DA Davidson upped their price target on shares of Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a report on Friday, May 23rd. One analyst has rated the stock with a sell rating, eight have assigned a hold rating, eighteen have given a buy rating and two have assigned a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $296.88.

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.