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

Daiwa Securities Group Inc. reduced its position in shares of Workday, Inc. (NASDAQ:WDAY) by 26.6% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 23,122 shares of the software maker’s stock after selling 8,359 shares during the period. Daiwa Securities Group Inc.’s holdings in Workday were worth $6,383,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. SkyView Investment Advisors LLC purchased a new stake in shares of Workday during the second quarter valued at approximately $66,000. Beacon Capital Management LLC raised its holdings in shares of Workday by 333.3% in the 4th quarter. Beacon Capital Management LLC now owns 91 shares of the software maker’s stock worth $25,000 after purchasing an additional 70 shares during the period. Exchange Traded Concepts LLC increased its holdings in Workday by 1,750.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker’s stock worth $31,000 after acquiring an additional 105 shares during the last quarter. CVA Family Office LLC bought a new stake in Workday in the 4th quarter valued at about $33,000. Finally, Strategic Investment Solutions Inc. IL purchased a new stake in Workday during the first quarter valued at about $25,000. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Trading Down 0.5 %

Shares of NASDAQ:WDAY opened at $255.64 on Friday. Workday, Inc. has a 52-week low of $174.25 and a 52-week high of $311.28. The stock has a market capitalization of $67.49 billion, a price-to-earnings ratio of 49.64, a PEG ratio of 6.42 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97. The stock’s 50-day simple moving average is $279.24 and its two-hundred day simple moving average is $261.98.

Workday (NASDAQ:WDAY) last announced its earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.10. Workday had a return on equity of 4.87% and a net margin of 19.02%. The company had revenue of $1.92 billion for the quarter, compared to analysts’ expectations of $1.92 billion. During the same period last year, the firm earned ($0.14) EPS. Workday’s revenue for the quarter was up 16.8% compared to the same quarter last year. Analysts expect that Workday, Inc. will post 1.76 EPS for the current year.

Analyst Upgrades and Downgrades

Several research firms have recently issued reports on WDAY. Citigroup boosted their price target on shares of Workday from $270.00 to $293.00 and gave the company a “neutral” rating in a research report on Tuesday, February 27th. The Goldman Sachs Group increased their target price on Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a research report on Tuesday, February 27th. Evercore ISI lifted their price target on Workday from $310.00 to $350.00 and gave the company an “outperform” rating in a research report on Tuesday, February 20th. Needham & Company LLC boosted their price objective on Workday from $300.00 to $350.00 and gave the company a “buy” rating in a research note on Tuesday, February 27th. Finally, DA Davidson restated a “neutral” rating and issued a $300.00 target price on shares of Workday in a research note on Tuesday, February 27th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Insider Buying and Selling at Workday

In related news, insider Douglas A. Robinson sold 411 shares of the stock in a transaction that occurred on Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total transaction of $109,695.90. Following the completion of the transaction, the insider now directly owns 165,521 shares of the company’s stock, valued at $44,177,554.90. The sale was disclosed in a filing with the SEC, which is available through this link. In other news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on 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 sale, the insider now owns 843,000 shares of the company’s stock, valued at $223,302,270. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider Douglas A. Robinson sold 411 shares of Workday stock in a transaction dated Tuesday, March 5th. The stock was sold at an average price of $266.90, for a total transaction of $109,695.90. Following the transaction, the insider now directly owns 165,521 shares of the company’s stock, valued at $44,177,554.90. The disclosure for this sale can be found here. Insiders sold a total of 435,691 shares of company stock valued at $117,731,569 in the last three months. 21.09% of the stock is currently owned by corporate insiders.

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.