Blueshift Asset Management LLC Decreases Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Blueshift Asset Management LLC cut its holdings in Workday, Inc. (NASDAQ:WDAY) by 54.2% in the third quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 4,883 shares of the software maker’s stock after selling 5,767 shares during the quarter. Blueshift Asset Management LLC’s holdings in Workday were worth $1,193,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also made changes to their positions in WDAY. ORG Partners LLC boosted its position in shares of Workday by 3,717.9% during the second quarter. ORG Partners LLC now owns 3,207 shares of the software maker’s stock valued at $721,000 after buying an additional 3,123 shares during the period. Grafton Street Partners Fund LP bought a new position in Workday in the 3rd quarter worth about $4,424,000. ICICI Prudential Asset Management Co Ltd increased its position in shares of Workday by 32.4% during the third quarter. ICICI Prudential Asset Management Co Ltd now owns 31,878 shares of the software maker’s stock worth $7,791,000 after acquiring an additional 7,802 shares during the period. Legal & General Group Plc raised its position in Workday by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 1,719,976 shares of the software maker’s stock valued at $384,518,000 after purchasing an additional 118,180 shares in the last quarter. Finally, Atria Investments Inc grew its position in shares of Workday by 19.3% during the 3rd quarter. Atria Investments Inc now owns 44,324 shares of the software maker’s stock worth $10,833,000 after buying an additional 7,175 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

WDAY has been the subject of a number of analyst reports. DA Davidson raised their target price on shares of Workday from $255.00 to $270.00 and gave the company a “neutral” rating in a research note on Friday, August 23rd. Loop Capital lifted their price objective on Workday from $255.00 to $270.00 and gave the company a “hold” rating in a research note on Thursday, November 14th. Wells Fargo & Company increased their price target on shares of Workday from $260.00 to $300.00 and gave the stock an “overweight” rating in a report on Friday, August 23rd. Citigroup cut their price target on Workday from $274.00 to $270.00 and set a “neutral” rating for the company in a research note on Wednesday, September 25th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $300.00 price objective on shares of Workday in a report on Monday. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and twenty-one have assigned a buy rating to the company’s stock. Based on data from MarketBeat, Workday has a consensus rating of “Moderate Buy” and an average price target of $288.04.

Workday Stock Up 0.9 %

WDAY stock opened at $270.19 on Wednesday. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $311.28. The company’s 50 day moving average price is $248.52 and its 200 day moving average price is $237.21. The company has a debt-to-equity ratio of 0.36, a quick ratio of 2.04 and a current ratio of 2.04. The firm has a market capitalization of $71.60 billion, a price-to-earnings ratio of 47.07, a PEG ratio of 5.31 and a beta of 1.35.

Workday (NASDAQ:WDAY) last issued its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, topping the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 5.34% and a net margin of 19.59%. The business had revenue of $2.16 billion for the quarter, compared to analyst estimates of $2.13 billion. During the same quarter last year, the company earned $0.47 EPS. The business’s quarterly revenue was up 15.8% on a year-over-year basis. On average, equities research analysts anticipate that Workday, Inc. will post 2.4 EPS for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, Director George J. Still, Jr. sold 7,500 shares of the company’s stock in a transaction dated Thursday, September 5th. The shares were sold at an average price of $255.45, for a total transaction of $1,915,875.00. Following the transaction, the director now directly owns 90,000 shares in the company, valued at approximately $22,990,500. This represents a 7.69 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder David A. Duffield sold 66,492 shares of the company’s stock in a transaction that occurred on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,902,816.40. This represents a 39.23 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 359,954 shares of company stock worth $88,742,132. 20.00% of the stock is owned by company 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.