Workday, Inc. (NASDAQ:WDAY) Shares Sold by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. trimmed its holdings in Workday, Inc. (NASDAQ:WDAY) by 3.2% during the third quarter, HoldingsChannel reports. The firm owned 4,328 shares of the software maker’s stock after selling 142 shares during the period. Meeder Advisory Services Inc.’s holdings in Workday were worth $1,058,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in WDAY. The Manufacturers Life Insurance Company boosted its stake in Workday by 79.1% during the second quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker’s stock worth $514,637,000 after buying an additional 1,016,394 shares during the last quarter. Legal & General Group Plc raised its stake in shares of 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 acquiring an additional 118,180 shares during the period. Meritage Group LP lifted its holdings in shares of Workday by 27.5% in the 1st quarter. Meritage Group LP now owns 1,277,359 shares of the software maker’s stock worth $348,400,000 after acquiring an additional 275,883 shares during the last quarter. Bank of New York Mellon Corp increased its holdings 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 purchasing an additional 153,577 shares during the last quarter. Finally, Van ECK Associates Corp raised its position in Workday by 0.4% in the third quarter. Van ECK Associates Corp now owns 934,828 shares of the software maker’s stock valued at $226,266,000 after purchasing an additional 4,127 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of Workday stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $260.32, for a total value of $1,952,400.00. Following the transaction, the director now directly owns 97,500 shares in the company, valued at approximately $25,381,200. This trade represents a 7.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the company’s stock in a transaction that occurred on Monday, August 26th. The stock was sold at an average price of $260.29, for a total value of $812,365.09. Following the sale, the insider now owns 196,344 shares of the company’s stock, valued at $51,106,379.76. This trade represents a 1.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 370,575 shares of company stock valued at $91,506,897. Insiders own 20.00% of the company’s stock.

Workday Stock Down 0.0 %

Shares of NASDAQ WDAY opened at $259.36 on Tuesday. The stock has a market cap of $68.73 billion, a PE ratio of 45.18, a price-to-earnings-growth ratio of 5.15 and a beta of 1.35. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The business has a 50-day moving average price of $246.86 and a 200 day moving average price of $236.54. The company has a quick ratio of 2.04, a current ratio of 2.04 and a debt-to-equity ratio of 0.36.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The business had revenue of $2.09 billion for the quarter, compared to analyst estimates of $2.07 billion. During the same period last year, the firm posted $0.40 earnings per share. The company’s revenue for the quarter was up 16.5% compared to the same quarter last year. Equities research analysts forecast that Workday, Inc. will post 2.4 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have recently weighed in on the company. The Goldman Sachs Group lifted their price objective on Workday from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, September 19th. DA Davidson boosted their price target on shares of Workday from $255.00 to $270.00 and gave the stock a “neutral” rating in a research note on Friday, August 23rd. Bank of America raised their price objective on shares of Workday from $265.00 to $310.00 and gave the company a “buy” rating in a research note on Friday, August 23rd. Deutsche Bank Aktiengesellschaft upped their target price on shares of Workday from $265.00 to $275.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Finally, Citigroup decreased their price target on shares of Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twenty-two have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $289.46.

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.