Massachusetts Financial Services Co. MA Has $1.02 Million Holdings in Workday, Inc. (NASDAQ:WDAY)

Massachusetts Financial Services Co. MA trimmed its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 83.7% during the third quarter, HoldingsChannel reports. The fund owned 4,156 shares of the software maker’s stock after selling 21,376 shares during the period. Massachusetts Financial Services Co. MA’s holdings in Workday were worth $1,016,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in WDAY. The Manufacturers Life Insurance Company raised its stake in shares of Workday by 79.1% in the 2nd 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 period. Legal & General Group Plc raised its position in Workday by 7.4% in the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after buying an additional 118,180 shares during the last quarter. Bank of New York Mellon Corp lifted its stake in Workday by 15.2% in the 2nd quarter. Bank of New York Mellon Corp now owns 1,167,131 shares of the software maker’s stock valued at $260,924,000 after acquiring an additional 153,577 shares in the last quarter. Van ECK Associates Corp boosted its position in Workday by 0.4% during the 3rd quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock worth $226,266,000 after acquiring an additional 4,127 shares during the last quarter. Finally, Envestnet Asset Management Inc. grew its stake in shares of Workday by 13.4% during the 2nd quarter. Envestnet Asset Management Inc. now owns 698,776 shares of the software maker’s stock worth $156,218,000 after acquiring an additional 82,570 shares in the last quarter. 89.81% of the stock is owned by institutional investors.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 66,492 shares of the business’s stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total transaction of $17,367,710.40. Following the sale, the insider now owns 102,997 shares in the company, valued at $26,902,816.40. The trade was a 39.23 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $255.45, for a total value of $1,915,875.00. Following the completion of the transaction, the director now owns 90,000 shares of the company’s stock, valued at $22,990,500. This represents a 7.69 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 359,954 shares of company stock worth $88,742,132. Corporate insiders own 20.00% of the company’s stock.

Workday Stock Performance

Workday stock opened at $253.40 on Thursday. 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 stock has a market cap of $67.15 billion, a PE ratio of 44.15, a P/E/G ratio of 5.31 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 business’s 50-day moving average price is $248.62 and its two-hundred day moving average price is $237.33.

Workday (NASDAQ:WDAY) last announced its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.76 by $0.13. The company had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. Workday had a net margin of 19.59% and a return on equity of 5.34%. The firm’s revenue was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. As a group, analysts expect that Workday, Inc. will post 2.4 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently commented on WDAY shares. Citigroup cut their price objective on shares of Workday from $274.00 to $270.00 and set a “neutral” rating on the stock in a research report on Wednesday, September 25th. Scotiabank began coverage on Workday in a report on Monday, November 18th. They issued a “sector outperform” rating and a $340.00 price objective for the company. DA Davidson upped their target price on Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a report on Friday, August 23rd. JMP Securities restated a “market outperform” rating and issued a $315.00 price target on shares of Workday in a research note on Thursday, September 19th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. One analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have given a buy rating to the stock. According to MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $288.14.

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.