AlphaQuest LLC Decreases Stock Position in Workday, Inc. (NASDAQ:WDAY)

AlphaQuest LLC lowered its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 88.8% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 276 shares of the software maker's stock after selling 2,196 shares during the period. AlphaQuest LLC's holdings in Workday were worth $71,000 at the end of the most recent reporting period.

Several other large investors have also added to or reduced their stakes in WDAY. Marcum Wealth LLC lifted its position in Workday by 4.4% during the fourth quarter. Marcum Wealth LLC now owns 966 shares of the software maker's stock valued at $249,000 after buying an additional 41 shares during the period. Custom Index Systems LLC lifted its position in Workday by 3.0% during the fourth quarter. Custom Index Systems LLC now owns 1,412 shares of the software maker's stock valued at $364,000 after buying an additional 41 shares during the period. Meeder Asset Management Inc. lifted its position in Workday by 42.2% during the third quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock valued at $35,000 after buying an additional 43 shares during the period. Kingsview Wealth Management LLC lifted its position in Workday by 0.9% during the third quarter. Kingsview Wealth Management LLC now owns 5,085 shares of the software maker's stock valued at $1,243,000 after buying an additional 43 shares during the period. Finally, Fulton Bank N.A. lifted its position in Workday by 1.3% during the fourth quarter. Fulton Bank N.A. now owns 3,696 shares of the software maker's stock valued at $954,000 after buying an additional 48 shares during the period. Institutional investors own 89.81% of the company's stock.

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Wall Street Analyst Weigh In

Several brokerages have commented on WDAY. Wells Fargo & Company raised their price objective on Workday from $330.00 to $360.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Loop Capital lifted their price target on Workday from $242.00 to $260.00 and gave the stock a "hold" rating in a research report on Wednesday, February 19th. Barclays lowered their price target on Workday from $314.00 to $305.00 and set an "overweight" rating for the company in a research report on Wednesday, November 27th. Bank of America lowered their price target on Workday from $310.00 to $285.00 and set a "buy" rating for the company in a research report on Wednesday, November 27th. Finally, Citigroup lowered their price target on Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a research report on Thursday, January 16th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have given a strong buy rating to the stock. Based on data from MarketBeat.com, Workday presently has an average rating of "Moderate Buy" and a consensus price target of $300.36.

Insiders Place Their Bets

In other news, CAO Mark S. Garfield sold 472 shares of the company's stock in a transaction that occurred on Monday, January 13th. The stock was sold at an average price of $248.24, for a total transaction of $117,169.28. Following the sale, the chief accounting officer now directly owns 35,408 shares of the company's stock, valued at $8,789,681.92. This represents a 1.32 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 71,672 shares of the company's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $248.58, for a total value of $17,816,225.76. Following the sale, the insider now directly owns 102,997 shares in the company, valued at $25,602,994.26. This trade represents a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 473,001 shares of company stock worth $120,614,400 in the last three months. 20.00% of the stock is owned by company insiders.

Workday Stock Performance

Shares of NASDAQ:WDAY traded down $0.98 during mid-day trading on Friday, reaching $249.49. 2,831,817 shares of the company traded hands, compared to its average volume of 2,429,207. The company's 50 day moving average price is $256.76 and its 200-day moving average price is $255.11. The firm has a market cap of $66.36 billion, a PE ratio of 41.37, a PEG ratio of 3.55 and a beta of 1.38. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00.

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

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.