Jacobs Levy Equity Management Inc. Sells 387,205 Shares of Workday, Inc. (NASDAQ:WDAY)

Jacobs Levy Equity Management Inc. decreased its stake in shares of Workday, Inc. (NASDAQ:WDAY) by 68.2% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 180,421 shares of the software maker’s stock after selling 387,205 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.07% of Workday worth $46,554,000 as of its most recent SEC filing.

A number of other large investors have also recently modified their holdings of the stock. Jefferies Financial Group Inc. boosted its stake in shares of Workday by 8.1% during the 4th quarter. Jefferies Financial Group Inc. now owns 10,326 shares of the software maker’s stock valued at $2,664,000 after purchasing an additional 770 shares in the last quarter. Junto Capital Management LP bought a new stake in shares of Workday during the 4th quarter valued at about $37,009,000. Hyperion Asset Management Ltd boosted its stake in shares of Workday by 18.1% during the 4th quarter. Hyperion Asset Management Ltd now owns 596,362 shares of the software maker’s stock valued at $153,879,000 after purchasing an additional 91,193 shares in the last quarter. Ensign Peak Advisors Inc boosted its stake in shares of Workday by 13.3% during the 4th quarter. Ensign Peak Advisors Inc now owns 314,165 shares of the software maker’s stock valued at $81,064,000 after purchasing an additional 36,808 shares in the last quarter. Finally, Ethic Inc. boosted its stake in shares of Workday by 0.9% during the 4th quarter. Ethic Inc. now owns 16,163 shares of the software maker’s stock valued at $4,170,000 after purchasing an additional 149 shares in the last quarter. Institutional investors own 89.81% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on the stock. Morgan Stanley cut their target price on shares of Workday from $275.00 to $250.00 and set an “equal weight” rating on the stock in a research note on Wednesday, April 16th. Needham & Company LLC reissued a “buy” rating and set a $300.00 price target on shares of Workday in a research report on Monday, March 24th. Citigroup lowered their price target on shares of Workday from $287.00 to $270.00 and set a “neutral” rating for the company in a research report on Thursday, January 16th. Redburn Atlantic initiated coverage on shares of Workday in a research report on Wednesday, February 19th. They set a “neutral” rating for the company. Finally, Loop Capital lifted their price target on shares of Workday from $242.00 to $260.00 and gave the company a “hold” rating in a research report on Wednesday, February 19th. Ten research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have given a strong buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $293.62.

Insider Activity at Workday

In related news, insider Sayan Chakraborty sold 6,056 shares of the business’s stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the sale, the insider now directly owns 111,324 shares in the company, valued at approximately $29,556,522. The trade was a 5.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 66,455 shares of the business’s stock in a transaction that occurred on Monday, March 3rd. The shares were sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at $26,729,781.44. This trade represents a 39.22% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 321,724 shares of company stock worth $77,976,126. 19.31% of the stock is owned by company insiders.

Workday Stock Performance

Shares of WDAY stock opened at $259.01 on Monday. The company has a 50 day moving average price of $238.49 and a 200-day moving average price of $252.33. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The firm has a market capitalization of $68.90 billion, a PE ratio of 42.95, a P/E/G ratio of 3.55 and a beta of 1.30. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.75 by ($1.27). The business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, equities research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Workday Company 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.