Workday, Inc. (NASDAQ:WDAY) Shares Sold by Zurich Insurance Group Ltd FI

Zurich Insurance Group Ltd FI trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 16.2% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 267,503 shares of the software maker's stock after selling 51,644 shares during the quarter. Zurich Insurance Group Ltd FI owned approximately 0.10% of Workday worth $69,024,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Simplicity Wealth LLC raised its stake in shares of Workday by 3.0% during the 4th quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker's stock worth $330,000 after buying an additional 37 shares during the period. Custom Index Systems LLC raised its stake in Workday by 3.0% in the 4th quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker's stock valued at $364,000 after purchasing an additional 41 shares during the last quarter. AllSquare Wealth Management LLC raised its stake in Workday by 19.4% in the 4th quarter. AllSquare Wealth Management LLC now owns 252 shares of the software maker's stock valued at $65,000 after purchasing an additional 41 shares during the last quarter. CreativeOne Wealth LLC raised its stake in Workday by 1.5% in the 4th quarter. CreativeOne Wealth LLC now owns 2,889 shares of the software maker's stock valued at $745,000 after purchasing an additional 43 shares during the last quarter. Finally, Ashton Thomas Securities LLC raised its stake in Workday by 3.2% in the 4th quarter. Ashton Thomas Securities LLC now owns 1,494 shares of the software maker's stock valued at $385,000 after purchasing an additional 46 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Stock Performance

Shares of Workday stock opened at $273.30 on Tuesday. The business has a 50-day moving average of $241.20 and a 200 day moving average of $253.77. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The stock has a market capitalization of $72.70 billion, a price-to-earnings ratio of 45.32, a price-to-earnings-growth 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.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. As a group, sell-side analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on the company. Piper Sandler reduced their price objective on Workday from $290.00 to $230.00 and set a "neutral" rating for the company in a research note on Wednesday, April 23rd. The Goldman Sachs Group increased their price objective on Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. Morgan Stanley reduced their price objective on Workday from $275.00 to $250.00 and set an "equal weight" rating for the company in a research note on Wednesday, April 16th. Jefferies Financial Group reduced their price objective on Workday from $350.00 to $325.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Finally, Scotiabank reduced their price objective on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research note on Monday, March 17th. Nine analysts have rated the stock with a hold rating, twenty-one have given a buy rating and two have issued a strong buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $293.62.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 81,275 shares of the firm's stock in a transaction dated Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at $22,111,395.96. This trade represents a 44.11% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Sayan Chakraborty sold 6,056 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the transaction, the insider now owns 111,324 shares of the company's stock, valued at $29,556,522. This trade represents a 5.16% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 321,724 shares of company stock worth $77,976,126 in the last three months. 19.31% of the stock is owned by company insiders.

Workday Company 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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