Daiwa Securities Group Inc. Sells 8,359 Shares of Workday, Inc. (NASDAQ:WDAY)

Daiwa Securities Group Inc. cut its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 26.6% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 23,122 shares of the software maker's stock after selling 8,359 shares during the quarter. Daiwa Securities Group Inc.'s holdings in Workday were worth $6,383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also added to or reduced their stakes in WDAY. Vanguard Group Inc. raised its position in shares of Workday by 1.9% in the 3rd quarter. Vanguard Group Inc. now owns 14,010,910 shares of the software maker's stock valued at $3,010,244,000 after purchasing an additional 263,994 shares in the last quarter. Wellington Management Group LLP raised its holdings in Workday by 37.4% in the third quarter. Wellington Management Group LLP now owns 5,163,362 shares of the software maker's stock valued at $1,109,348,000 after acquiring an additional 1,406,153 shares in the last quarter. State Street Corp boosted its stake in Workday by 3.0% during the 1st quarter. State Street Corp now owns 4,270,722 shares of the software maker's stock valued at $882,064,000 after acquiring an additional 126,266 shares during the last quarter. Polen Capital Management LLC grew its holdings in Workday by 2.0% during the 3rd quarter. Polen Capital Management LLC now owns 3,950,320 shares of the software maker's stock worth $848,726,000 after acquiring an additional 78,352 shares in the last quarter. Finally, Norges Bank bought a new stake in shares of Workday in the 4th quarter worth about $600,504,000. 89.81% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, major shareholder David A. Duffield sold 64,329 shares of the business's stock in a transaction that occurred on Friday, March 15th. The shares were sold at an average price of $268.85, for a total value of $17,294,851.65. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $27,690,743.45. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Douglas A. Robinson sold 411 shares of the stock in a transaction on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total value of $109,695.90. Following the completion of the transaction, the insider now owns 165,521 shares in the company, valued at approximately $44,177,554.90. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 64,329 shares of Workday stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $268.85, for a total value of $17,294,851.65. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $27,690,743.45. The disclosure for this sale can be found here. In the last quarter, insiders sold 435,691 shares of company stock worth $117,731,569. Corporate insiders own 21.09% of the company's stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on WDAY. Stifel Nicolaus increased their price target on shares of Workday from $250.00 to $290.00 and gave the stock a "hold" rating in a research report on Tuesday, February 27th. KeyCorp lifted their target price on Workday from $310.00 to $330.00 and gave the stock an "overweight" rating in a research report on Thursday, February 22nd. Citigroup upped their price target on Workday from $270.00 to $293.00 and gave the company a "neutral" rating in a research report on Tuesday, February 27th. Evercore ISI raised their price objective on Workday from $310.00 to $350.00 and gave the stock an "outperform" rating in a research note on Tuesday, February 20th. Finally, Wells Fargo & Company boosted their target price on shares of Workday from $300.00 to $350.00 and gave the company an "overweight" rating in a research note on Tuesday, February 20th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $293.61.

Workday Price Performance

WDAY traded down $3.42 during trading on Friday, reaching $252.22. The stock had a trading volume of 1,543,228 shares, compared to its average volume of 1,777,252. The stock has a 50 day moving average of $279.24 and a two-hundred day moving average of $261.98. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $66.59 billion, a price-to-earnings ratio of 49.64, a price-to-earnings-growth ratio of 6.42 and a beta of 1.32. Workday, Inc. has a 1-year low of $174.25 and a 1-year high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping analysts' consensus estimates of $1.47 by $0.10. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company's quarterly revenue was up 16.8% compared to the same quarter last year. During the same quarter in the previous year, the business earned ($0.14) EPS. As a group, equities analysts anticipate that Workday, Inc. will post 1.76 EPS for the current fiscal year.

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.