MetLife Investment Management LLC Decreases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

MetLife Investment Management LLC decreased its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 1.9% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,346 shares of the software maker’s stock after selling 261 shares during the quarter. MetLife Investment Management LLC’s holdings in Workday were worth $3,262,000 as of its most recent SEC filing.

Other hedge funds also recently bought and sold shares of the company. ORG Partners LLC raised its stake in Workday by 3,717.9% during the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after purchasing an additional 3,123 shares in the last quarter. Grafton Street Partners Fund LP purchased a new stake in Workday during the third quarter valued at $4,424,000. ICICI Prudential Asset Management Co Ltd raised its stake in Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after purchasing an additional 7,802 shares in the last quarter. Legal & General Group Plc raised its stake in shares of Workday by 7.4% in the second quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after acquiring an additional 118,180 shares during the period. Finally, Atria Investments Inc raised its stake in shares of Workday by 19.3% in the third quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock valued at $10,833,000 after acquiring an additional 7,175 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on WDAY. The Goldman Sachs Group increased their target price on shares of Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. Stifel Nicolaus increased their target price on shares of Workday from $250.00 to $270.00 and gave the company a “hold” rating in a research note on Friday, August 23rd. Oppenheimer reissued an “outperform” rating and issued a $300.00 target price on shares of Workday in a research note on Tuesday. DA Davidson increased their target price on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Finally, Citigroup reduced their target price on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 25th. One research 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.com, the company has a consensus rating of “Moderate Buy” and an average price target of $288.14.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $257.06 on Wednesday. The company has a market capitalization of $68.12 billion, a price-to-earnings ratio of 42.63, a price-to-earnings-growth ratio of 4.66 and a beta of 1.34. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36. The firm has a 50 day moving average of $249.10 and a 200 day moving average of $237.25.

Workday (NASDAQ:WDAY) last issued its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The company had revenue of $2.16 billion during the quarter, compared to the consensus estimate of $2.13 billion. Workday had a net margin of 19.86% and a return on equity of 6.21%. Workday’s revenue for the quarter was up 15.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.47 earnings per share. On average, sell-side analysts predict that Workday, Inc. will post 2.57 earnings per share for the current fiscal year.

Insider Transactions at Workday

In other news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction on Thursday, September 5th. The stock was sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the transaction, the director now directly owns 90,000 shares of the company’s stock, valued at approximately $22,990,500. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of the business’s stock in a transaction on Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the sale, the director now directly owns 8,674 shares in the company, valued at $2,097,806.90. This trade represents a 17.41 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders have sold 298,960 shares of company stock valued at $72,753,210. Corporate insiders own 20.00% of the company’s stock.

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.