Cullen Frost Bankers Inc. Sells 6,805 Shares of Workday, Inc. (NASDAQ:WDAY)

Cullen Frost Bankers Inc. decreased its holdings in Workday, Inc. (NASDAQ:WDAY) by 7.5% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 84,168 shares of the software maker’s stock after selling 6,805 shares during the quarter. Cullen Frost Bankers Inc.’s holdings in Workday were worth $21,718,000 at the end of the most recent quarter.

Several other large investors have also added to or reduced their stakes in the business. Janus Henderson Group PLC lifted its position in Workday by 10.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker’s stock valued at $1,218,415,000 after acquiring an additional 480,459 shares in the last quarter. State Street Corp lifted its position in Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after acquiring an additional 67,380 shares in the last quarter. Geode Capital Management LLC lifted its position in Workday by 2.7% in the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after acquiring an additional 76,618 shares in the last quarter. The Manufacturers Life Insurance Company lifted its position in Workday by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker’s stock valued at $566,094,000 after acquiring an additional 14,159 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in Workday by 4.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker’s stock valued at $482,133,000 after acquiring an additional 75,747 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Workday Stock Up 2.4 %

WDAY opened at $259.61 on Thursday. The company has a fifty day moving average price of $258.98 and a 200-day moving average price of $255.49. The firm has a market capitalization of $69.06 billion, a P/E ratio of 43.05, a price-to-earnings-growth ratio of 3.55 and a beta of 1.35. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a one year low of $199.81 and a one year high of $294.00.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). The firm had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts have commented on WDAY shares. Barclays dropped their target price on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research report on Wednesday, November 27th. Deutsche Bank Aktiengesellschaft raised shares of Workday from a “hold” rating to a “buy” rating and lifted their target price for the stock from $265.00 to $300.00 in a research report on Wednesday, January 8th. Loop Capital lifted their target price on shares of Workday from $242.00 to $260.00 and gave the stock a “hold” rating in a research report on Wednesday, February 19th. Citigroup dropped their target price on shares of Workday from $287.00 to $270.00 and set a “neutral” rating on the stock in a research report on Thursday, January 16th. Finally, BMO Capital Markets lifted their target price on shares of Workday from $300.00 to $314.00 and gave the stock an “outperform” rating in a research report on Thursday, February 27th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, Workday currently has a consensus rating of “Moderate Buy” and an average target price of $302.14.

Insider Activity

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the sale, the insider now directly owns 111,324 shares of the company’s stock, valued at $29,556,522. The trade was a 5.16 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder David A. Duffield sold 66,455 shares of the business’s stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $26,729,781.44. This represents a 39.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 435,829 shares of company stock worth $113,033,319 in the last three months. Corporate insiders own 20.00% 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.