Workday, Inc. (NASDAQ:WDAY) Shares Sold by Edgestream Partners L.P.

Edgestream Partners L.P. lessened its holdings in Workday, Inc. (NASDAQ:WDAY) by 44.6% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 6,904 shares of the software maker’s stock after selling 5,566 shares during the quarter. Edgestream Partners L.P.’s holdings in Workday were worth $1,781,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Crews Bank & Trust acquired a new position in shares of Workday during the fourth quarter valued at $26,000. Roxbury Financial LLC acquired a new position in shares of Workday during the fourth quarter valued at $25,000. Avion Wealth boosted its holdings in shares of Workday by 452.6% during the fourth quarter. Avion Wealth now owns 105 shares of the software maker’s stock valued at $27,000 after acquiring an additional 86 shares during the period. Capital Performance Advisors LLP acquired a new position in shares of Workday during the third quarter valued at $26,000. Finally, Meeder Asset Management Inc. boosted its holdings in shares of Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker’s stock valued at $35,000 after acquiring an additional 43 shares during the period. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the subject of several analyst reports. BNP Paribas raised shares of Workday to a “strong-buy” rating in a report on Friday, February 14th. Piper Sandler boosted their price target on shares of Workday from $270.00 to $290.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Canaccord Genuity Group boosted their price target on shares of Workday from $300.00 to $330.00 and gave the company a “buy” rating in a report on Wednesday, February 26th. Citigroup reduced their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a report on Thursday, January 16th. Finally, Barclays cut their price objective on shares of Workday from $314.00 to $305.00 and set an “overweight” rating on the stock in a research note on Wednesday, November 27th. Ten analysts have rated the stock with a hold rating, twenty have given a buy rating and two have assigned a strong buy rating to the stock. According to data from MarketBeat.com, Workday has an average rating of “Moderate Buy” and a consensus target price of $302.14.

Workday Stock Down 3.7 %

Shares of NASDAQ:WDAY opened at $243.00 on Tuesday. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The company has a market cap of $64.64 billion, a PE ratio of 40.30, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The firm has a 50 day simple moving average of $258.01 and a 200 day simple moving average of $256.02.

Workday (NASDAQ:WDAY) last issued its quarterly earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing the consensus estimate of $1.75 by ($1.27). The firm had revenue of $2.21 billion during 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%. As a group, research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity at Workday

In other Workday news, major shareholder David A. Duffield sold 57,000 shares of the company’s stock in a transaction that occurred on Wednesday, December 18th. The shares were sold at an average price of $275.31, for a total value of $15,692,670.00. Following the transaction, the insider now owns 284,000 shares in the company, valued at approximately $78,188,040. This represents a 16.72 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company’s stock in a transaction that occurred on Monday, January 6th. The shares were sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is owned by corporate insiders.

Workday 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.