Northwest & Ethical Investments L.P. Decreases Stake in Workday, Inc. (NASDAQ:WDAY)

Northwest & Ethical Investments L.P. lowered its stake in Workday, Inc. (NASDAQ:WDAY) by 1.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 21,136 shares of the software maker’s stock after selling 320 shares during the period. Northwest & Ethical Investments L.P.’s holdings in Workday were worth $5,454,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the stock. Simplicity Wealth LLC raised its holdings in shares of Workday by 3.0% during the fourth quarter. Simplicity Wealth LLC now owns 1,277 shares of the software maker’s stock worth $330,000 after purchasing an additional 37 shares during the last quarter. Marcum Wealth LLC raised its holdings in shares of Workday by 4.4% during the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker’s stock worth $249,000 after purchasing an additional 41 shares during the last quarter. Custom Index Systems LLC increased its holdings in Workday by 3.0% in the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker’s stock valued at $364,000 after buying an additional 41 shares in the last quarter. Meeder Asset Management Inc. increased its holdings in Workday by 42.2% in the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after buying an additional 43 shares in the last quarter. Finally, Kingsview Wealth Management LLC increased its holdings in Workday by 0.9% in the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker’s stock valued at $1,243,000 after buying an additional 43 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Activity

In related news, insider Sayan Chakraborty sold 6,056 shares of the company’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the sale, the insider now directly owns 111,324 shares of the company’s stock, valued at $29,556,522. This represents a 5.16 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of the company’s stock in a transaction that occurred on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the sale, the director now directly owns 6,845 shares in the company, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 473,001 shares of company stock valued at $120,614,400. Company insiders own 20.00% of the company’s stock.

Analyst Upgrades and Downgrades

WDAY has been the subject of a number of recent analyst reports. Citigroup cut their price objective on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. KeyCorp lifted their price objective on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Morgan Stanley cut shares of Workday from an “overweight” rating to an “equal weight” rating and cut their price objective for the company from $330.00 to $275.00 in a report on Wednesday, February 19th. Stifel Nicolaus lifted their price objective on shares of Workday from $270.00 to $310.00 and gave the company a “hold” rating in a report on Wednesday, February 26th. Finally, Piper Sandler lifted their target price on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a research report on Wednesday, February 26th. Ten research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $300.36.

Workday Price Performance

Shares of WDAY stock opened at $250.47 on Friday. The firm’s 50-day moving average is $256.76 and its two-hundred day moving average is $255.24. The company has a market capitalization of $66.63 billion, a PE ratio of 41.54, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05.

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

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.