Elo Mutual Pension Insurance Co Sells 711 Shares of Workday, Inc. (NASDAQ:WDAY)

Elo Mutual Pension Insurance Co cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 3.5% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 19,438 shares of the software maker’s stock after selling 711 shares during the quarter. Elo Mutual Pension Insurance Co’s holdings in Workday were worth $5,016,000 as of its most recent SEC filing.

Several other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. grew its position in Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker’s stock worth $5,197,447,000 after buying an additional 4,517,272 shares in the last quarter. Janus Henderson Group PLC lifted its position in shares of Workday by 10.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares during the period. State Street Corp grew its holdings in shares of Workday by 1.4% during the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock worth $1,183,611,000 after purchasing an additional 67,380 shares in the last quarter. Geode Capital Management LLC increased its position in shares of Workday by 2.7% in the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock worth $698,285,000 after purchasing an additional 76,618 shares during the period. Finally, Parnassus Investments LLC raised its stake in Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock valued at $631,589,000 after purchasing an additional 2,078,097 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have issued reports on WDAY shares. Canaccord Genuity Group increased their price objective on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research note on Wednesday, February 26th. Loop Capital increased their price target on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. Scotiabank decreased their price objective on shares of Workday from $355.00 to $305.00 and set a “sector outperform” rating on the stock in a research note on Monday, March 17th. Daiwa America upgraded Workday to a “strong-buy” rating in a research note on Tuesday, March 4th. Finally, UBS Group lifted their price target on Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, February 26th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the company. Based on data from MarketBeat.com, Workday has a consensus rating of “Moderate Buy” and a consensus price target of $300.36.

Workday Stock Down 2.5 %

Shares of NASDAQ WDAY opened at $244.55 on Friday. The company’s 50 day moving average price is $256.89 and its 200-day moving average price is $254.93. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $294.00. The company has a market capitalization of $65.05 billion, a P/E ratio of 40.56, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). Workday had a net margin of 19.86% and a return on equity of 6.13%. The firm had revenue of $2.21 billion during the quarter, compared to analyst estimates of $2.18 billion. Equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In related news, major shareholder David A. Duffield sold 56,000 shares of the stock in a transaction on Monday, December 30th. The shares were sold at an average price of $261.75, for a total transaction of $14,658,000.00. Following the transaction, the insider now directly owns 172,000 shares of the company’s stock, valued at $45,021,000. This represents a 24.56 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction on Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the sale, the director now directly owns 6,845 shares of the company’s stock, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 487,145 shares of company stock worth $123,289,438 in the last 90 days. Corporate insiders own 20.00% of the company’s stock.

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.