Zurcher Kantonalbank Zurich Cantonalbank Decreases Holdings in Workday, Inc. (NASDAQ:WDAY)

Zurcher Kantonalbank Zurich Cantonalbank decreased its position in shares of Workday, Inc. (NASDAQ:WDAY) by 58.8% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,901 shares of the software maker’s stock after selling 105,563 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Workday were worth $20,401,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. RB Capital Management LLC raised its holdings in shares of Workday by 2.8% in the first quarter. RB Capital Management LLC now owns 2,763 shares of the software maker’s stock worth $662,000 after buying an additional 76 shares during the last quarter. Private Advisor Group LLC raised its holdings in shares of Workday by 11.8% in the first quarter. Private Advisor Group LLC now owns 2,511 shares of the software maker’s stock worth $601,000 after buying an additional 265 shares during the last quarter. MetLife Investment Management LLC purchased a new position in shares of Workday in the first quarter worth $2,974,000. Yousif Capital Management LLC raised its holdings in shares of Workday by 2.7% in the first quarter. Yousif Capital Management LLC now owns 2,813 shares of the software maker’s stock worth $674,000 after buying an additional 74 shares during the last quarter. Finally, Raymond James Trust N.A. raised its holdings in shares of Workday by 10.3% in the first quarter. Raymond James Trust N.A. now owns 3,391 shares of the software maker’s stock worth $812,000 after buying an additional 316 shares during the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the subject of a number of research analyst reports. StockNews.com cut shares of Workday from a “strong-buy” rating to a “buy” rating in a report on Monday, April 8th. DA Davidson reiterated a “neutral” rating and issued a $300.00 price objective on shares of Workday in a research note on Tuesday, February 27th. The Goldman Sachs Group increased their price objective on shares of Workday from $270.00 to $310.00 and gave the stock a “buy” rating in a research note on Tuesday, February 27th. Wells Fargo & Company increased their price objective on shares of Workday from $300.00 to $350.00 and gave the stock an “overweight” rating in a research note on Tuesday, February 20th. Finally, JMP Securities reiterated a “market outperform” rating and issued a $315.00 price objective on shares of Workday in a research note on Tuesday, February 27th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-two have given a buy rating to the stock. According to MarketBeat.com, Workday currently has a consensus rating of “Moderate Buy” and a consensus target price of $293.61.

Workday Stock Performance

NASDAQ:WDAY opened at $257.02 on Thursday. The company has a current ratio of 1.97, a quick ratio of 1.97 and a debt-to-equity ratio of 0.37. The company’s 50-day moving average price is $280.10 and its 200-day moving average price is $262.03. Workday, Inc. has a twelve month low of $174.25 and a twelve month high of $311.28. The company has a market cap of $67.85 billion, a P/E ratio of 49.91, a P/E/G ratio of 6.44 and a beta of 1.32.

Workday (NASDAQ:WDAY) last issued its earnings results on Monday, February 26th. The software maker reported $1.57 EPS for the quarter, topping analysts’ consensus estimates 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 previous year, the firm earned ($0.14) earnings per share. Workday’s quarterly revenue was up 16.8% compared to the same quarter last year. On average, sell-side analysts forecast that Workday, Inc. will post 1.76 earnings per share for the current fiscal year.

Insider Activity at Workday

In other Workday news, Director George J. Still, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the completion of the transaction, the director now owns 105,000 shares in the company, valued at approximately $28,404,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Workday news, Director George J. Still, Jr. sold 5,000 shares of the business’s stock in a transaction that occurred on Tuesday, March 12th. The shares were sold at an average price of $270.52, for a total transaction of $1,352,600.00. Following the completion of the transaction, the director now owns 105,000 shares in the company, valued at approximately $28,404,600. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 65,221 shares of the business’s stock in a transaction that occurred on Monday, April 8th. The stock was sold at an average price of $268.29, for a total transaction of $17,498,142.09. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $27,633,065.13. The disclosure for this sale can be found here. Over the last quarter, insiders sold 435,691 shares of company stock worth $117,731,569. Corporate insiders own 21.09% of the company’s stock.

Workday Company 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.