Man Group plc Sells 35,910 Shares of Workday, Inc. (NASDAQ:WDAY)

Man Group plc reduced its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 36.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 63,901 shares of the software maker's stock after selling 35,910 shares during the period. Man Group plc's holdings in Workday were worth $16,488,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new stake in shares of Workday in the fourth quarter valued at about $26,000. Roxbury Financial LLC bought a new position in Workday in the fourth quarter valued at approximately $25,000. Avion Wealth grew its stake in Workday by 452.6% in the fourth quarter. Avion Wealth now owns 105 shares of the software maker's stock valued at $27,000 after purchasing an additional 86 shares in the last quarter. TCTC Holdings LLC acquired a new position in shares of Workday during the 4th quarter worth approximately $35,000. Finally, Rakuten Securities Inc. raised its stake in shares of Workday by 78.6% during the 4th quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after purchasing an additional 66 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Workday Stock Performance

Shares of WDAY stock traded up $1.80 on Thursday, hitting $270.34. The company's stock had a trading volume of 1,046,396 shares, compared to its average volume of 2,559,757. 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 capitalization of $71.91 billion, a PE ratio of 44.88, a PEG ratio of 3.55 and a beta of 1.30. The stock's 50 day moving average is $242.42 and its 200-day moving average is $254.01. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The company had revenue of $2.21 billion during the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several analyst reports. BNP Paribas raised shares of Workday to a "strong-buy" rating in a research note on Friday, February 14th. JPMorgan Chase & Co. increased their price target on shares of Workday from $285.00 to $310.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Oppenheimer lifted their price objective on shares of Workday from $300.00 to $320.00 and gave the company an "outperform" rating in a research report on Wednesday, February 26th. Piper Sandler lowered their price objective on shares of Workday from $290.00 to $230.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Finally, KeyCorp raised their target price on shares of Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a research note on Wednesday, February 26th. Nine research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $293.62.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction that occurred on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the completion of the transaction, the insider now owns 102,997 shares of the company's stock, valued at $22,111,395.96. This represents a 44.11% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Carl M. Eschenbach sold 3,125 shares of the firm's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the sale, the chief executive officer now directly owns 10,847 shares in the company, valued at approximately $2,544,814.67. This trade represents a 22.37% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 321,724 shares of company stock valued at $77,976,126. Company insiders own 19.31% of the company's stock.

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.