Workday, Inc. (NASDAQ:WDAY) Shares Sold by North Peak Capital Management LLC

North Peak Capital Management LLC lessened its stake in Workday, Inc. (NASDAQ:WDAY) by 27.1% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 420,003 shares of the software maker’s stock after selling 156,342 shares during the period. Workday accounts for about 14.4% of North Peak Capital Management LLC’s holdings, making the stock its 3rd biggest position. North Peak Capital Management LLC owned approximately 0.16% of Workday worth $108,373,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently added to or reduced their stakes in WDAY. Bristlecone Advisors LLC lifted its holdings in shares of Workday by 49.6% during the fourth quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker’s stock worth $754,000 after purchasing an additional 968 shares during the period. Nordea Investment Management AB increased its stake in shares of Workday by 20.5% during the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker’s stock worth $182,753,000 after acquiring an additional 119,769 shares during the period. Burns Matteson Capital Management LLC acquired a new stake in Workday in the fourth quarter valued at about $369,000. Principal Financial Group Inc. boosted its holdings in Workday by 45.0% in the 3rd quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker’s stock valued at $4,349,000 after purchasing an additional 5,519 shares in the last quarter. Finally, Smith Group Asset Management LLC raised its stake in shares of Workday by 9.4% during the 4th quarter. Smith Group Asset Management LLC now owns 109,013 shares of the software maker’s stock worth $28,129,000 after buying an additional 9,324 shares in the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities research analysts have commented on WDAY shares. Wells Fargo & Company raised their target price on Workday from $330.00 to $360.00 and gave the company an “overweight” rating in a report on Wednesday, February 26th. Canaccord Genuity Group upped their target price on shares of Workday from $300.00 to $330.00 and gave the stock a “buy” rating in a research report on Wednesday, February 26th. Redburn Atlantic started coverage on Workday in a research note on Wednesday, February 19th. They set a “neutral” rating on the stock. Guggenheim reaffirmed a “neutral” rating on shares of Workday in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reissued a “buy” rating and issued a $300.00 target price on shares of Workday in a report on Monday, March 24th. Ten equities research analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have given a strong buy rating to the stock. According to data from MarketBeat, Workday presently has a consensus rating of “Moderate Buy” and an average price target of $296.25.

Workday Stock Down 2.9 %

Shares of NASDAQ:WDAY opened at $221.02 on Friday. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The stock has a 50-day simple moving average of $244.00 and a 200-day simple moving average of $252.18. 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 stock has a market capitalization of $58.79 billion, a P/E ratio of 36.65, a PEG ratio of 3.55 and a beta of 1.32.

Workday (NASDAQ:WDAY) last issued its 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). Workday had a net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion during the quarter, compared to analysts’ expectations of $2.18 billion. Equities analysts forecast that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Activity

In other Workday news, CAO Mark S. Garfield sold 497 shares of the business’s stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the transaction, the chief accounting officer now owns 34,385 shares in the company, valued at $7,789,921.75. The trade was a 1.42 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of the firm’s stock in a transaction dated 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 sale, the insider now owns 111,324 shares of the company’s stock, valued at $29,556,522. This represents a 5.16 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 321,724 shares of company stock worth $77,976,126. 20.00% of the stock is currently 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.