Massachusetts Financial Services Co. MA Has $1.01 Million Stake in Workday, Inc. (NASDAQ:WDAY)

Massachusetts Financial Services Co. MA reduced its stake in Workday, Inc. (NASDAQ:WDAY) by 5.5% in the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 3,926 shares of the software maker’s stock after selling 230 shares during the quarter. Massachusetts Financial Services Co. MA’s holdings in Workday were worth $1,013,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Bristlecone Advisors LLC lifted its stake in shares of Workday by 49.6% in the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after buying an additional 968 shares during the last quarter. Sanctuary Advisors LLC raised its holdings in Workday by 7.2% in the 3rd quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after acquiring an additional 1,978 shares during the period. Nordea Investment Management AB lifted its position in Workday by 20.5% during the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after acquiring an additional 119,769 shares during the last quarter. Burns Matteson Capital Management LLC bought a new stake in Workday during the fourth quarter valued at about $369,000. Finally, Principal Financial Group Inc. grew its position in shares of Workday by 45.0% in the third quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker’s stock valued at $4,349,000 after purchasing an additional 5,519 shares during the last quarter. Institutional investors own 89.81% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on WDAY. Redburn Atlantic assumed coverage on Workday in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Oppenheimer increased their price objective on Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a research report on Wednesday, February 26th. BNP Paribas raised shares of Workday to a “strong-buy” rating in a research report on Friday, February 14th. JMP Securities reiterated a “market outperform” rating and set a $315.00 target price on shares of Workday in a research note on Thursday, February 6th. Finally, Guggenheim restated a “neutral” rating on shares of Workday in a research report on Wednesday, February 26th. Ten investment 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 company presently has an average rating of “Moderate Buy” and a consensus target price of $300.18.

Workday Price Performance

Shares of Workday stock opened at $210.47 on Wednesday. The stock has a market capitalization of $55.99 billion, a price-to-earnings ratio of 34.90, a P/E/G ratio of 3.55 and a beta of 1.32. The firm’s 50-day moving average price is $251.02 and its two-hundred day moving average price is $253.33. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00.

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

Insider Transactions at Workday

In other news, major shareholder David A. Duffield sold 56,000 shares of the company’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $246.42, for a total transaction of $13,799,520.00. Following the transaction, the insider now directly owns 60,000 shares in the company, valued at approximately $14,785,200. This represents a 48.28 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CAO Mark S. Garfield sold 472 shares of the firm’s stock in a transaction that occurred on Monday, January 13th. The shares were sold at an average price of $248.24, for a total transaction of $117,169.28. Following the completion of the sale, the chief accounting officer now directly owns 35,408 shares of the company’s stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 296,424 shares of company stock worth $74,332,103. 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.