Workday, Inc. (NASDAQ:WDAY) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. lowered its holdings in Workday, Inc. (NASDAQ:WDAY) by 53.4% in the first quarter, according to its most recent disclosure with the SEC. The institutional investor owned 164,307 shares of the software maker’s stock after selling 188,125 shares during the period. Assenagon Asset Management S.A. owned approximately 0.06% of Workday worth $38,371,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the business. Brighton Jones LLC grew its stake in Workday by 230.2% during the 4th quarter. Brighton Jones LLC now owns 4,005 shares of the software maker’s stock worth $1,033,000 after purchasing an additional 2,792 shares in the last quarter. Union Bancaire Privee UBP SA acquired a new position in Workday during the 4th quarter worth $8,984,000. Stratos Wealth Partners LTD. grew its stake in Workday by 60.3% during the 4th quarter. Stratos Wealth Partners LTD. now owns 1,407 shares of the software maker’s stock worth $363,000 after purchasing an additional 529 shares in the last quarter. Empowered Funds LLC grew its stake in Workday by 35.2% during the 4th quarter. Empowered Funds LLC now owns 9,936 shares of the software maker’s stock worth $2,564,000 after purchasing an additional 2,587 shares in the last quarter. Finally, Focus Financial Network Inc. grew its stake in Workday by 3.0% during the 4th quarter. Focus Financial Network Inc. now owns 1,706 shares of the software maker’s stock worth $440,000 after purchasing an additional 50 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company’s stock.

Workday Stock Down 0.3%

Shares of NASDAQ:WDAY opened at $250.69 on Friday. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The firm has a fifty day moving average price of $244.82 and a 200 day moving average price of $252.65. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The stock has a market cap of $66.93 billion, a P/E ratio of 41.57, a P/E/G ratio of 3.55 and a beta of 1.24.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping analysts’ consensus estimates of $2.01 by $0.22. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.24 billion during the quarter, compared to analysts’ expectations of $2.22 billion. During the same period last year, the firm earned $1.74 EPS. The firm’s revenue for the quarter was up 12.6% on a year-over-year basis. Sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insider Transactions at Workday

In other news, Director George J. Still, Jr. sold 7,500 shares of the firm’s stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total value of $1,863,075.00. Following the completion of the sale, the director now directly owns 67,500 shares of the company’s stock, valued at $16,767,675. This trade represents a 10.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder David A. Duffield sold 71,672 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $248.58, for a total value of $17,816,225.76. Following the completion of the sale, the insider now directly owns 102,997 shares of the company’s stock, valued at $25,602,994.26. This represents a 41.03% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 237,338 shares of company stock worth $56,281,251. Company insiders own 19.31% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on WDAY. The Goldman Sachs Group boosted their price target on shares of Workday from $310.00 to $345.00 and gave the stock a “buy” rating in a report on Wednesday, February 26th. Mizuho lowered their price target on shares of Workday from $320.00 to $275.00 and set an “outperform” rating for the company in a report on Tuesday, April 15th. Citigroup cut shares of Workday from a “neutral” rating to a “mixed” rating in a report on Friday, May 16th. Loop Capital lowered their price objective on Workday from $285.00 to $250.00 and set a “hold” rating for the company in a research report on Friday, May 23rd. Finally, BNP Paribas raised Workday to a “strong-buy” rating in a research report on Friday, February 14th. Nine equities research analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have given a strong buy rating to the stock. According to MarketBeat, Workday presently has an average rating of “Moderate Buy” and an average price target of $293.54.

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.