Allspring Global Investments Holdings LLC Sells 14,531 Shares of Workday, Inc. $WDAY

Allspring Global Investments Holdings LLC trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY) by 10.2% in the fourth quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 127,840 shares of the software maker’s stock after selling 14,531 shares during the quarter. Allspring Global Investments Holdings LLC’s holdings in Workday were worth $26,308,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently made changes to their positions in the company. First Eagle Investment Management LLC bought a new stake in Workday in the 3rd quarter valued at approximately $556,252,000. Hotchkis & Wiley Capital Management LLC boosted its holdings in Workday by 47.5% during the third quarter. Hotchkis & Wiley Capital Management LLC now owns 5,842,491 shares of the software maker’s stock worth $1,406,463,000 after purchasing an additional 1,882,391 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its holdings in Workday by 41.5% during the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 3,761,599 shares of the software maker’s stock worth $905,530,000 after purchasing an additional 1,103,421 shares during the last quarter. Generation Investment Management LLP grew its position in Workday by 50.4% in the third quarter. Generation Investment Management LLP now owns 3,087,395 shares of the software maker’s stock valued at $743,229,000 after purchasing an additional 1,034,589 shares in the last quarter. Finally, Amundi increased its stake in Workday by 61.5% in the 3rd quarter. Amundi now owns 1,981,023 shares of the software maker’s stock valued at $472,197,000 after buying an additional 754,313 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Performance

NASDAQ:WDAY opened at $132.26 on Friday. The company has a market cap of $33.99 billion, a price-to-earnings ratio of 51.26, a PEG ratio of 1.28 and a beta of 1.14. Workday, Inc. has a fifty-two week low of $117.76 and a fifty-two week high of $276.00. The company has a debt-to-equity ratio of 0.38, a quick ratio of 1.32 and a current ratio of 1.32. The stock has a fifty day moving average price of $144.85 and a 200-day moving average price of $195.96.

Workday (NASDAQ:WDAY) last posted its quarterly earnings results on Tuesday, February 24th. The software maker reported $2.47 EPS for the quarter, beating analysts’ consensus estimates of $2.32 by $0.15. The business had revenue of $2.53 billion during the quarter, compared to the consensus estimate of $2.52 billion. Workday had a return on equity of 13.37% and a net margin of 7.26%.Workday’s revenue for the quarter was up 14.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.92 earnings per share. As a group, equities analysts anticipate that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In related news, insider Robert Enslin sold 22,185 shares of the company’s stock in a transaction that occurred on Monday, January 5th. The shares were sold at an average price of $210.17, for a total transaction of $4,662,621.45. Following the completion of the transaction, the insider directly owned 106,330 shares in the company, valued at $22,347,376.10. This represents a 17.26% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 107,500 shares of the stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $132.67, for a total transaction of $14,262,025.00. Following the completion of the transaction, the insider directly owned 105,049 shares of the company’s stock, valued at approximately $13,936,850.83. The trade was a 50.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 872,536 shares of company stock worth $127,901,692 over the last 90 days. Insiders own 19.31% of the company’s stock.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of recent research reports. Deutsche Bank Aktiengesellschaft reduced their price objective on shares of Workday from $265.00 to $190.00 and set a “buy” rating for the company in a research note on Wednesday, February 18th. Loop Capital set a $210.00 target price on Workday in a report on Thursday, March 12th. UBS Group reduced their price target on Workday from $170.00 to $130.00 and set a “neutral” rating for the company in a research report on Wednesday, February 25th. Wells Fargo & Company decreased their price target on Workday from $255.00 to $180.00 and set an “overweight” rating for the company in a research note on Wednesday, February 25th. Finally, Barclays cut their price objective on Workday from $230.00 to $200.00 and set an “overweight” rating for the company in a report on Wednesday, February 25th. Nineteen equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $199.71.

About Workday

Workday, Inc (NASDAQ: WDAY) is a provider of cloud-based enterprise applications focused on human capital management (HCM) and financial management. Founded in 2005 by Dave Duffield and Aneel Bhusri following their tenure at PeopleSoft, the company develops software-as-a-service solutions that help organizations manage workforce and financial processes in a unified, cloud-native environment. Workday’s platform emphasizes continuous updates, data security, and a configurable architecture aimed at large and mid-sized enterprises.

The company’s product portfolio centers on Workday Human Capital Management and Workday Financial Management, with additional offerings for payroll, talent management, workforce planning and analytics.