Brown Brothers Harriman & Co. Sells 4,167 Shares of Workday, Inc. (NASDAQ:WDAY)

Brown Brothers Harriman & Co. reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 87.0% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 624 shares of the software maker’s stock after selling 4,167 shares during the period. Brown Brothers Harriman & Co.’s holdings in Workday were worth $153,000 at the end of the most recent reporting period.

A number of other large investors have also recently made changes to their positions in the stock. DRW Securities LLC bought a new position in shares of Workday in the third quarter worth $973,000. Independent Advisor Alliance boosted its holdings in shares of Workday by 4.2% in the third quarter. Independent Advisor Alliance now owns 1,604 shares of the software maker’s stock worth $392,000 after acquiring an additional 64 shares during the period. Harvest Fund Management Co. Ltd boosted its holdings in shares of Workday by 52.9% in the third quarter. Harvest Fund Management Co. Ltd now owns 9,811 shares of the software maker’s stock worth $2,398,000 after acquiring an additional 3,396 shares during the period. Dynamic Technology Lab Private Ltd bought a new position in shares of Workday in the third quarter worth $3,231,000. Finally, Fisher Asset Management LLC boosted its holdings in shares of Workday by 0.6% in the third quarter. Fisher Asset Management LLC now owns 126,895 shares of the software maker’s stock worth $31,015,000 after acquiring an additional 761 shares during the period. 89.81% of the stock is owned by institutional investors.

Workday Stock Down 6.2 %

WDAY opened at $253.40 on Thursday. The company has a market cap of $67.15 billion, a P/E ratio of 44.15, a P/E/G ratio of 5.31 and a beta of 1.35. The business’s 50-day moving average price is $248.62 and its 200-day moving average price is $237.33. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28.

Workday (NASDAQ:WDAY) last posted its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. Workday’s quarterly revenue was up 15.8% on a year-over-year basis. During the same period last year, the firm earned $0.47 earnings per share. On average, equities analysts expect that Workday, Inc. will post 2.4 EPS for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on WDAY shares. Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a report on Monday. Stifel Nicolaus increased their price objective on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research report on Friday, August 23rd. KeyCorp increased their price objective on Workday from $275.00 to $305.00 and gave the stock an “overweight” rating in a research report on Friday, August 23rd. DA Davidson increased their price objective on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research report on Friday, August 23rd. Finally, Piper Sandler reiterated a “neutral” rating and issued a $270.00 price objective (down previously from $285.00) on shares of Workday in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $288.14.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction dated Monday, October 14th. The stock was sold at an average price of $242.01, for a total value of $13,552,560.00. Following the sale, the insider now directly owns 281,000 shares of the company’s stock, valued at $68,004,810. This trade represents a 16.62 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction dated Thursday, September 5th. The stock was sold at an average price of $255.45, for a total value of $1,915,875.00. Following the completion of the sale, the director now directly owns 90,000 shares in the company, valued at $22,990,500. The trade was a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock valued at $88,742,132 over the last ninety days. 20.00% of the stock is 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.