Northwest & Ethical Investments L.P. Sells 2,012 Shares of Workday, Inc. (NASDAQ:WDAY)

Northwest & Ethical Investments L.P. reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 8.6% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 21,456 shares of the software maker’s stock after selling 2,012 shares during the quarter. Northwest & Ethical Investments L.P.’s holdings in Workday were worth $5,244,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently bought and sold shares of the business. B. Riley Wealth Advisors Inc. raised its holdings in shares of Workday by 27.7% during the first quarter. B. Riley Wealth Advisors Inc. now owns 2,417 shares of the software maker’s stock valued at $659,000 after purchasing an additional 525 shares during the last quarter. Comerica Bank grew its holdings in shares of Workday by 13.2% in the first quarter. Comerica Bank now owns 42,664 shares of the software maker’s stock worth $11,637,000 after acquiring an additional 4,977 shares during the period. Swedbank AB purchased a new stake in Workday during the first quarter valued at $21,906,000. Cetera Investment Advisers lifted its holdings in Workday by 83.5% in the first quarter. Cetera Investment Advisers now owns 49,132 shares of the software maker’s stock valued at $13,401,000 after acquiring an additional 22,351 shares during the period. Finally, Cetera Advisors LLC boosted its position in Workday by 378.3% in the first quarter. Cetera Advisors LLC now owns 16,582 shares of the software maker’s stock worth $4,523,000 after purchasing an additional 13,115 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Citigroup reduced their price target on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. Evercore ISI decreased their price target on shares of Workday from $300.00 to $290.00 and set an “outperform” rating on the stock in a research report on Tuesday, August 20th. StockNews.com cut shares of Workday from a “buy” rating to a “hold” rating in a research note on Thursday. Scotiabank assumed coverage on Workday in a research note on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective for the company. Finally, Barclays lowered their target price on Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the company’s stock. According to MarketBeat, Workday has an average rating of “Moderate Buy” and an average target price of $288.14.

Workday Stock Down 6.2 %

Shares of NASDAQ:WDAY opened at $253.40 on Friday. The company has a market cap of $67.15 billion, a price-to-earnings ratio of 42.02, a PEG ratio of 5.03 and a beta of 1.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $311.28. The company has a current ratio of 2.04, a quick ratio of 2.04 and a debt-to-equity ratio of 0.36. The company has a 50-day moving average price of $248.74 and a 200 day moving average price of $237.44.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. Workday had a return on equity of 6.21% and a net margin of 19.86%. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. During the same quarter in the previous year, the business earned $0.47 EPS. The company’s quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts predict that Workday, Inc. will post 2.4 earnings per share for the current year.

Insider Buying and Selling at Workday

In other Workday news, insider Richard Harry Sauer sold 3,134 shares of the firm’s stock in a transaction dated Tuesday, October 8th. The shares were sold at an average price of $235.78, for a total value of $738,934.52. Following the completion of the sale, the insider now owns 85,795 shares of the company’s stock, valued at $20,228,745.10. This trade represents a 3.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The shares were sold at an average price of $261.20, for a total value of $17,367,710.40. Following the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 359,954 shares of company stock worth $88,742,132 over the last quarter. Insiders own 20.00% of the company’s stock.

Workday 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.