New Century Financial Group LLC Decreases Stock Position in Workday, Inc. (NASDAQ:WDAY)

New Century Financial Group LLC trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY) by 22.9% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 961 shares of the software maker’s stock after selling 285 shares during the quarter. New Century Financial Group LLC’s holdings in Workday were worth $243,000 as of its most recent filing with the SEC.

Several other large investors have also recently made changes to their positions in the company. Sanctuary Advisors LLC grew its holdings in shares of Workday by 7.2% during the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker’s stock worth $7,934,000 after buying an additional 1,978 shares in the last quarter. Grafton Street Partners Fund LP acquired a new position in Workday during the third quarter worth about $4,424,000. ICICI Prudential Asset Management Co Ltd grew its stake in Workday by 32.4% during the 3rd quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock valued at $7,791,000 after acquiring an additional 7,802 shares in the last quarter. Nordea Investment Management AB raised its holdings in Workday by 20.5% in the 4th quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock valued at $182,753,000 after acquiring an additional 119,769 shares during the last quarter. Finally, Legal & General Group Plc lifted its stake 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 worth $384,518,000 after purchasing an additional 118,180 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on WDAY. Oppenheimer restated an “outperform” rating and issued a $300.00 price target on shares of Workday in a research report on Tuesday, December 3rd. Piper Sandler reaffirmed a “neutral” rating and issued a $270.00 target price (down from $285.00) on shares of Workday in a research note on Wednesday, November 27th. StockNews.com lowered Workday from a “buy” rating to a “hold” rating in a report on Monday, January 13th. Royal Bank of Canada upped their price objective on shares of Workday from $300.00 to $320.00 and gave the company an “outperform” rating in a report on Wednesday, December 18th. Finally, Wells Fargo & Company lifted their target price on shares of Workday from $300.00 to $330.00 and gave the stock an “overweight” rating in a research note on Monday, December 9th. Eight equities research analysts have rated the stock with a hold rating and twenty-one have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $292.25.

Insider Buying and Selling

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business’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 completion of the transaction, the insider now owns 60,000 shares in the company, valued at $14,785,200. The trade was a 48.28 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Carl M. Eschenbach sold 6,250 shares of the firm’s stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the sale, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 438,819 shares of company stock worth $113,142,592. Company insiders own 20.00% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock opened at $258.28 on Friday. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28. The firm has a 50 day moving average of $260.93 and a two-hundred day moving average of $247.36. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a market capitalization of $68.70 billion, a PE ratio of 42.83, a P/E/G ratio of 4.58 and a beta of 1.34.

Workday (NASDAQ:WDAY) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 EPS for the quarter, topping the consensus estimate of $1.76 by $0.13. The firm had revenue of $2.16 billion during the quarter, compared to analysts’ expectations of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. Workday’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period in the previous year, the firm posted $0.47 EPS. On average, research analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.