SG Americas Securities LLC Sells 121,952 Shares of Workday, Inc. (NASDAQ:WDAY)

SG Americas Securities LLC reduced its position in Workday, Inc. (NASDAQ:WDAYFree Report) by 97.6% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 2,983 shares of the software maker’s stock after selling 121,952 shares during the quarter. SG Americas Securities LLC’s holdings in Workday were worth $823,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of WDAY. Morgan Stanley raised its stake in Workday by 47.0% in the third quarter. Morgan Stanley now owns 2,727,580 shares of the software maker’s stock valued at $586,021,000 after purchasing an additional 872,288 shares in the last quarter. QRG Capital Management Inc. purchased a new stake in Workday in the third quarter valued at approximately $345,000. Mariner LLC raised its stake in Workday by 21.1% in the third quarter. Mariner LLC now owns 28,304 shares of the software maker’s stock valued at $6,081,000 after purchasing an additional 4,927 shares in the last quarter. Orion Portfolio Solutions LLC raised its stake in Workday by 4,270.5% in the second quarter. Orion Portfolio Solutions LLC now owns 69,273 shares of the software maker’s stock valued at $18,301,000 after purchasing an additional 67,688 shares in the last quarter. Finally, Marcum Wealth LLC purchased a new position in shares of Workday during the fourth quarter worth approximately $207,000. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Performance

Shares of WDAY stock opened at $272.44 on Tuesday. Workday, Inc. has a one year low of $174.25 and a one year high of $311.28. The company’s 50-day moving average is $286.91 and its 200 day moving average is $259.13. The company has a market capitalization of $71.92 billion, a price-to-earnings ratio of 52.90, a price-to-earnings-growth ratio of 6.81 and a beta of 1.32. The company has a debt-to-equity ratio of 0.37, a quick ratio of 1.97 and a current ratio of 1.97.

Workday (NASDAQ:WDAYGet Free Report) last announced its quarterly earnings data on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, beating the consensus estimate of $1.47 by $0.10. Workday had a net margin of 19.02% and a return on equity of 4.87%. The company had revenue of $1.92 billion for the quarter, compared to the consensus estimate of $1.92 billion. During the same period in the prior year, the firm posted ($0.14) EPS. Workday’s revenue for the quarter was up 16.8% on a year-over-year basis. Sell-side analysts expect that Workday, Inc. will post 1.76 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages recently commented on WDAY. Evercore ISI lifted their target price on shares of Workday from $310.00 to $350.00 and gave the stock an “outperform” rating in a research note on Tuesday, February 20th. DA Davidson reiterated a “neutral” rating and set a $300.00 price target on shares of Workday in a report on Tuesday, February 27th. The Goldman Sachs Group upped their price target on shares of Workday from $270.00 to $310.00 and gave the company a “buy” rating in a report on Tuesday, February 27th. StockNews.com upgraded shares of Workday from a “buy” rating to a “strong-buy” rating in a report on Wednesday, March 6th. Finally, UBS Group lowered their price target on shares of Workday from $315.00 to $300.00 and set a “neutral” rating for the company in a report on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have given a hold rating, twenty-one have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $293.61.

Read Our Latest Stock Report on Workday

Insider Activity

In other news, CEO Aneel Bhusri sold 3,335 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $265.89, for a total transaction of $886,743.15. Following the sale, the chief executive officer now owns 546,670 shares of the company’s stock, valued at approximately $145,354,086.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, CEO Aneel Bhusri sold 3,335 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $265.89, for a total transaction of $886,743.15. Following the sale, the chief executive officer now owns 546,670 shares of the company’s stock, valued at approximately $145,354,086.30. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Zane Rowe sold 4,655 shares of the firm’s stock in a transaction dated Friday, January 5th. The shares were sold at an average price of $265.89, for a total transaction of $1,237,717.95. Following the sale, the chief financial officer now directly owns 155,265 shares in the company, valued at approximately $41,283,410.85. The disclosure for this sale can be found here. Insiders have sold a total of 463,484 shares of company stock valued at $126,630,341 in the last 90 days. 21.09% of the stock is currently owned by insiders.

About Workday

(Free Report)

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.

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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