Workday, Inc. (NASDAQ:WDAY) Shares Sold by Quest Partners LLC

Quest Partners LLC lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 5.9% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 1,247 shares of the software maker’s stock after selling 78 shares during the period. Quest Partners LLC’s holdings in Workday were worth $279,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the stock. Oak Thistle LLC boosted its stake in shares of Workday by 65.8% during the second quarter. Oak Thistle LLC now owns 1,466 shares of the software maker’s stock valued at $328,000 after acquiring an additional 582 shares during the last quarter. Caprock Group LLC boosted its stake in shares of Workday by 39.0% during the second quarter. Caprock Group LLC now owns 2,660 shares of the software maker’s stock valued at $595,000 after acquiring an additional 746 shares during the last quarter. Custom Index Systems LLC boosted its stake in shares of Workday by 39.0% during the second quarter. Custom Index Systems LLC now owns 1,853 shares of the software maker’s stock valued at $414,000 after acquiring an additional 520 shares during the last quarter. Acadian Asset Management LLC boosted its stake in shares of Workday by 373.9% during the second quarter. Acadian Asset Management LLC now owns 27,538 shares of the software maker’s stock valued at $6,152,000 after acquiring an additional 21,727 shares during the last quarter. Finally, Asset Dedication LLC acquired a new stake in shares of Workday during the second quarter valued at $36,000. Institutional investors and hedge funds own 89.81% of the company’s stock.

Analysts Set New Price Targets

WDAY has been the topic of a number of analyst reports. Canaccord Genuity Group reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Friday. Stifel Nicolaus raised their price target on Workday from $250.00 to $270.00 and gave the stock a “hold” rating in a research note on Friday, August 23rd. Royal Bank of Canada decreased their price target on Workday from $310.00 to $300.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Robert W. Baird decreased their price target on Workday from $316.00 to $265.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Finally, Mizuho decreased their price target on Workday from $325.00 to $280.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $288.15.

Workday Stock Performance

Shares of NASDAQ:WDAY opened at $250.05 on Friday. The company has a market cap of $66.26 billion, a P/E ratio of 45.05, a PEG ratio of 5.40 and a beta of 1.35. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. Workday, Inc. has a one year low of $199.81 and a one year high of $311.28. The business’s 50-day simple moving average is $235.24 and its 200 day simple moving average is $243.38.

Workday (NASDAQ:WDAY) last announced its earnings results on Thursday, August 22nd. The software maker reported $1.75 EPS for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.09 billion for the quarter, compared to the consensus estimate of $2.07 billion. During the same period last year, the business posted $0.40 EPS. The company’s revenue was up 16.5% on a year-over-year basis. On average, sell-side analysts forecast that Workday, Inc. will post 2.27 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other Workday news, major shareholder David A. Duffield sold 78,279 shares of Workday stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $223.89, for a total transaction of $17,525,885.31. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $23,059,998.33. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other Workday news, major shareholder David A. Duffield sold 56,000 shares of Workday stock in a transaction that occurred on Friday, June 21st. The stock was sold at an average price of $218.58, for a total transaction of $12,240,480.00. Following the sale, the insider now directly owns 730,000 shares in the company, valued at approximately $159,563,400. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 78,279 shares of Workday stock in a transaction that occurred on Monday, July 1st. The stock was sold at an average price of $223.89, for a total value of $17,525,885.31. Following the sale, the insider now owns 102,997 shares in the company, valued at $23,059,998.33. The disclosure for this sale can be found here. Insiders have sold 466,402 shares of company stock worth $107,992,034 in the last three months. 20.00% of the stock is owned by insiders.

About Workday

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.