Workday, Inc. (NASDAQ:WDAY) Shares Sold by Gulf International Bank UK Ltd

Key Points

• Gulf International Bank UK Ltd has reduced its holdings in Workday, Inc. by 23.8% during the first quarter, now owning 12,304 shares worth approximately $2.87 million.
• Insider selling activity includes CAO Mark S. Garfield and CFO Zane Rowe, who sold 451 and 6,000 shares respectively, resulting in a decrease in their ownership stakes by 1.04% and 3.25%.
• Analysts have mixed opinions on Workday's stock, with price targets ranging from $250 to $360 and an average rating of "Moderate Buy" based on recent performance.

Gulf International Bank UK Ltd decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 23.8% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,304 shares of the software maker's stock after selling 3,836 shares during the quarter. Gulf International Bank UK Ltd's holdings in Workday were worth $2,873,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Brighton Jones LLC lifted its holdings in shares of Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker's stock worth $1,033,000 after acquiring an additional 2,792 shares during the period. Bank Pictet & Cie Europe AG lifted its holdings in shares of Workday by 24.0% during the 4th quarter. Bank Pictet & Cie Europe AG now owns 3,075 shares of the software maker's stock worth $793,000 after acquiring an additional 595 shares during the period. Advisory Services Network LLC lifted its holdings in shares of Workday by 27.6% during the 4th quarter. Advisory Services Network LLC now owns 703 shares of the software maker's stock worth $181,000 after acquiring an additional 152 shares during the period. Sagespring Wealth Partners LLC purchased a new position in shares of Workday during the 4th quarter worth about $252,000. Finally, Mariner LLC lifted its holdings in shares of Workday by 4.7% during the 4th quarter. Mariner LLC now owns 34,785 shares of the software maker's stock worth $8,976,000 after acquiring an additional 1,559 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Insider Activity at Workday

In other news, CAO Mark S. Garfield sold 451 shares of the stock in a transaction that occurred 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 completion of the transaction, the chief accounting officer directly owned 42,977 shares in the company, valued at approximately $10,093,578.22. This represents a 1.04% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of the stock in a transaction that occurred 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 transaction, the chief financial officer owned 178,418 shares of the company's stock, valued at approximately $42,747,168.62. This trade represents a 3.25% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 329,005 shares of company stock worth $79,203,523. 19.31% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several brokerages have recently weighed in on WDAY. DA Davidson increased their price objective on shares of Workday from $230.00 to $250.00 and gave the stock a "neutral" rating in a report on Friday, May 23rd. JMP Securities reiterated a "market outperform" rating and set a $315.00 price objective on shares of Workday in a report on Friday, May 23rd. Morgan Stanley set a $255.00 price objective on shares of Workday and gave the stock an "equal weight" rating in a report on Friday, May 23rd. Cantor Fitzgerald set a $265.00 price objective on shares of Workday in a report on Thursday. Finally, Wells Fargo & Company cut their price objective on shares of Workday from $360.00 to $325.00 and set an "overweight" rating on the stock in a report on Tuesday, April 22nd. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the stock. Based on data from MarketBeat, Workday presently has an average rating of "Moderate Buy" and a consensus price target of $294.31.

Workday Stock Performance

Workday stock opened at $223.09 on Thursday. The stock has a market cap of $59.56 billion, a P/E ratio of 123.25, a price-to-earnings-growth ratio of 3.24 and a beta of 1.24. 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 50 day moving average of $235.77 and a 200-day moving average of $244.48. Workday, Inc. has a 52 week low of $205.33 and a 52 week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results 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 company had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The business's revenue was up 12.6% on a year-over-year basis. During the same period in the prior year, the business posted $1.74 EPS. On average, analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.

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