Workday, Inc. (NASDAQ:WDAY) Stake Cut by Forsta AP Fonden

Forsta AP Fonden reduced its holdings in Workday, Inc. (NASDAQ:WDAYGet Rating) by 6.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 55,200 shares of the software maker’s stock after selling 3,900 shares during the period. Forsta AP Fonden’s holdings in Workday were worth $13,218,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of the business. Proem Advisors LLC lifted its stake in Workday by 150.0% in the 1st quarter. Proem Advisors LLC now owns 20,000 shares of the software maker’s stock worth $4,789,000 after acquiring an additional 12,000 shares in the last quarter. Los Angeles Capital Management LLC lifted its stake in Workday by 0.4% in the 1st quarter. Los Angeles Capital Management LLC now owns 46,184 shares of the software maker’s stock worth $11,059,000 after acquiring an additional 176 shares in the last quarter. Camden Capital LLC lifted its stake in Workday by 22.9% in the 1st quarter. Camden Capital LLC now owns 2,024 shares of the software maker’s stock worth $485,000 after acquiring an additional 377 shares in the last quarter. Balentine LLC purchased a new stake in Workday in the 1st quarter worth about $203,000. Finally, CIBC Asset Management Inc lifted its stake in Workday by 4.1% in the 1st quarter. CIBC Asset Management Inc now owns 33,048 shares of the software maker’s stock worth $7,914,000 after acquiring an additional 1,293 shares in the last quarter. 70.64% of the stock is owned by hedge funds and other institutional investors.

Workday Stock Performance

Workday stock opened at $161.71 on Friday. The company has a debt-to-equity ratio of 0.62, a quick ratio of 1.56 and a current ratio of 1.56. Workday, Inc. has a one year low of $134.10 and a one year high of $307.81. The business has a 50 day simple moving average of $148.24 and a 200 day simple moving average of $195.00.

Workday (NASDAQ:WDAYGet Rating) last posted its earnings results on Thursday, May 26th. The software maker reported $0.83 EPS for the quarter, missing the consensus estimate of $0.86 by ($0.03). The company had revenue of $1.43 billion for the quarter, compared to the consensus estimate of $1.43 billion. Workday had a positive return on equity of 1.34% and a negative net margin of 0.49%. Workday’s quarterly revenue was up 22.1% compared to the same quarter last year. During the same quarter last year, the business earned ($0.01) EPS. Research analysts anticipate that Workday, Inc. will post -0.65 EPS for the current fiscal year.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 102,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $142.63, for a total transaction of $14,619,575.00. Following the completion of the transaction, the insider now owns 205,000 shares in the company, valued at approximately $29,239,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, major shareholder David A. Duffield sold 102,500 shares of the firm’s stock in a transaction that occurred on Wednesday, June 15th. The stock was sold at an average price of $142.63, for a total transaction of $14,619,575.00. Following the completion of the transaction, the insider now owns 205,000 shares in the company, valued at approximately $29,239,150. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Gomez Luciano Fernandez sold 2,030 shares of Workday stock in a transaction on Wednesday, June 15th. The shares were sold at an average price of $142.50, for a total value of $289,275.00. Following the completion of the transaction, the chief executive officer now owns 265,605 shares of the company’s stock, valued at approximately $37,848,712.50. The disclosure for this sale can be found here. Insiders sold 119,883 shares of company stock worth $17,036,414 in the last 90 days. 21.74% of the stock is owned by company insiders.

Analysts Set New Price Targets

WDAY has been the subject of a number of recent research reports. Mizuho cut their price target on Workday from $300.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, May 27th. Robert W. Baird cut their price target on Workday from $290.00 to $235.00 and set an “outperform” rating for the company in a research note on Friday, May 27th. DA Davidson cut their price target on Workday from $250.00 to $220.00 and set a “buy” rating for the company in a research note on Friday, May 27th. Needham & Company LLC cut their price target on Workday from $300.00 to $200.00 and set a “buy” rating for the company in a research note on Friday, May 27th. Finally, KeyCorp cut their price target on Workday from $229.00 to $207.00 and set an “overweight” rating for the company in a research note on Friday, May 27th. Four investment analysts have rated the stock with a hold rating and twenty-six have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $253.81.

Workday Profile

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Workday, Inc provides enterprise cloud applications in the United States and internationally. The company's applications help its customers to plan, execute, analyze, and extend to other applications and environments, and to manage their business and operations. It offers a suite of financial management applications, which enable chief financial officers to maintain accounting information in the general ledger; manage financial processes; 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.

Further Reading

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Institutional Ownership by Quarter for Workday (NASDAQ:WDAY)

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