KBC Group NV Lowers Position in Workday, Inc. (NASDAQ:WDAY)

KBC Group NV decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 23.1% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 148,921 shares of the software maker’s stock after selling 44,857 shares during the quarter. KBC Group NV owned 0.06% of Workday worth $36,398,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the stock. The Manufacturers Life Insurance Company lifted its position in Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock valued at $514,637,000 after purchasing an additional 1,016,394 shares during the last quarter. Van ECK Associates Corp lifted its holdings in shares of Workday by 17,345.2% during the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker’s stock worth $208,068,000 after acquiring an additional 925,366 shares during the last quarter. Vanguard Group Inc. grew its position in Workday by 2.2% in the first quarter. Vanguard Group Inc. now owns 14,772,665 shares of the software maker’s stock worth $4,029,244,000 after acquiring an additional 324,540 shares in the last quarter. D1 Capital Partners L.P. increased its stake in Workday by 152.1% in the second quarter. D1 Capital Partners L.P. now owns 518,000 shares of the software maker’s stock valued at $115,804,000 after acquiring an additional 312,500 shares during the last quarter. Finally, Lindbrook Capital LLC increased its stake in Workday by 17,001.6% in the third quarter. Lindbrook Capital LLC now owns 285,938 shares of the software maker’s stock valued at $703,000 after acquiring an additional 284,266 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts have recently issued reports on WDAY shares. JMP Securities reiterated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a report on Thursday, September 19th. Stifel Nicolaus upped their target price on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Barclays boosted their price objective on shares of Workday from $286.00 to $289.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Wells Fargo & Company increased their target price on shares of Workday from $260.00 to $300.00 and gave the company an “overweight” rating in a report on Friday, August 23rd. Finally, BMO Capital Markets reissued an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, September 18th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-one have issued a buy rating to the stock. According to data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average target price of $287.59.

Insider Transactions at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction on Monday, August 26th. The stock was sold at an average price of $260.32, for a total transaction of $1,952,400.00. Following the completion of the transaction, the director now owns 97,500 shares in the company, valued at approximately $25,381,200. The trade was a 7.14 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on 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 completion of the sale, the insider now directly owns 281,000 shares in the company, valued at approximately $68,004,810. This represents a 16.62 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 370,575 shares of company stock valued at $91,506,897 in the last three months. 20.00% of the stock is currently owned by company insiders.

Workday Stock Down 1.8 %

WDAY stock opened at $271.49 on Friday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company has a market capitalization of $71.94 billion, a price-to-earnings ratio of 47.30, a price-to-earnings-growth ratio of 5.49 and a beta of 1.35. The business’s 50 day moving average price is $246.33 and its two-hundred day moving average price is $236.28. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share for the quarter, topping the consensus estimate of $1.65 by $0.10. The company had revenue of $2.09 billion for the quarter, compared to analysts’ expectations of $2.07 billion. Workday had a return on equity of 5.34% and a net margin of 19.59%. The firm’s revenue for the quarter was up 16.5% on a year-over-year basis. During the same period in the prior year, the firm earned $0.40 earnings per share. As a group, analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

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.