Workday, Inc. (NASDAQ:WDAY) Stock Holdings Lessened by Russell Investments Group Ltd.

Russell Investments Group Ltd. trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 26.1% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 226,276 shares of the software maker's stock after selling 79,879 shares during the quarter. Russell Investments Group Ltd. owned approximately 0.09% of Workday worth $62,466,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in the company. Cercano Management LLC bought a new stake in Workday in the fourth quarter worth approximately $19,441,000. Headlands Technologies LLC bought a new stake in Workday in the fourth quarter worth approximately $3,878,000. Cornerstone Capital Inc. increased its holdings in Workday by 7.8% in the fourth quarter. Cornerstone Capital Inc. now owns 82,365 shares of the software maker's stock worth $22,738,000 after purchasing an additional 5,946 shares in the last quarter. Motley Fool Asset Management LLC increased its holdings in Workday by 6.6% in the fourth quarter. Motley Fool Asset Management LLC now owns 7,888 shares of the software maker's stock worth $2,178,000 after purchasing an additional 486 shares in the last quarter. Finally, State of New Jersey Common Pension Fund D increased its holdings in Workday by 0.8% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 117,911 shares of the software maker's stock worth $32,551,000 after purchasing an additional 883 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Price Performance

WDAY traded down $2.27 during trading on Monday, reaching $248.77. 2,182,025 shares of the company were exchanged, compared to its average volume of 1,765,825. The company's 50-day moving average is $273.49 and its two-hundred day moving average is $264.36. The company has a market cap of $65.68 billion, a price-to-earnings ratio of 48.30, a P/E/G ratio of 6.27 and a beta of 1.32. The company has a quick ratio of 1.97, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. Workday, Inc. has a 12-month low of $174.25 and a 12-month high of $311.28.

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

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on WDAY. UBS Group lowered their target price on Workday from $315.00 to $300.00 and set a "neutral" rating for the company in a report on Tuesday, February 27th. The Goldman Sachs Group upped their price target on Workday from $270.00 to $310.00 and gave the stock a "buy" rating in a report on Tuesday, February 27th. Needham & Company LLC upped their price target on Workday from $300.00 to $350.00 and gave the stock a "buy" rating in a report on Tuesday, February 27th. StockNews.com downgraded Workday from a "strong-buy" rating to a "buy" rating in a report on Monday, April 8th. Finally, Guggenheim reiterated a "sell" rating and set a $190.00 price target on shares of Workday in a report on Tuesday, February 27th. 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. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $293.61.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the company's stock in a transaction dated Friday, April 12th. The stock was sold at an average price of $264.89, for a total value of $14,833,840.00. Following the transaction, the insider now directly owns 843,000 shares in the company, valued at approximately $223,302,270. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other news, major shareholder David A. Duffield sold 64,329 shares of the stock in a transaction dated Friday, March 15th. The stock was sold at an average price of $268.85, for a total transaction of $17,294,851.65. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $27,690,743.45. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction dated Friday, April 12th. The shares were sold at an average price of $264.89, for a total value of $14,833,840.00. Following the transaction, the insider now owns 843,000 shares in the company, valued at $223,302,270. The disclosure for this sale can be found here. Insiders have sold 435,691 shares of company stock worth $117,731,569 in the last ninety days. 21.09% of the stock is currently owned by 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.