Jackson Square Partners LLC Sells 1,020 Shares of Workday, Inc. (NASDAQ:WDAY)

Jackson Square Partners LLC lessened its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 4.9% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 19,824 shares of the software maker's stock after selling 1,020 shares during the quarter. Jackson Square Partners LLC's holdings in Workday were worth $5,115,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in WDAY. Vanguard Group Inc. raised its position in shares of Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. Parnassus Investments LLC boosted its holdings in shares of Workday by 562.2% in the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock valued at $631,589,000 after buying an additional 2,078,097 shares during the period. Raymond James Financial Inc. bought a new stake in shares of Workday during the fourth quarter worth $194,679,000. Two Sigma Advisers LP increased its position in shares of Workday by 1,094.2% during the third quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker's stock worth $150,019,000 after acquiring an additional 562,400 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. raised its holdings in shares of Workday by 62.8% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker's stock worth $350,921,000 after acquiring an additional 524,799 shares during the period. 89.81% of the stock is currently owned by institutional investors.

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Analysts Set New Price Targets

WDAY has been the subject of a number of analyst reports. Morgan Stanley downgraded shares of Workday from an "overweight" rating to an "equal weight" rating and decreased their target price for the company from $330.00 to $275.00 in a research report on Wednesday, February 19th. KeyCorp upped their target price on shares of Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Royal Bank of Canada lifted their price target on Workday from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. BNP Paribas upgraded Workday to a "strong-buy" rating in a research note on Friday, February 14th. Finally, JMP Securities reiterated a "market outperform" rating and set a $315.00 target price on shares of Workday in a research note on Thursday, February 6th. Ten investment analysts have rated the stock with a hold rating, twenty have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus price target of $300.36.

Workday Trading Down 2.5 %

Shares of WDAY stock traded down $6.06 on Friday, hitting $238.49. The company had a trading volume of 1,888,639 shares, compared to its average volume of 2,522,044. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. 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 firm has a market cap of $63.44 billion, a P/E ratio of 39.55, a P/E/G ratio of 3.55 and a beta of 1.38. The stock's 50-day moving average is $256.67 and its two-hundred day moving average is $254.82.

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

Insider Buying and Selling at Workday

In other Workday news, CEO Carl M. Eschenbach sold 6,250 shares of Workday stock in a transaction dated Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the completion of the transaction, the chief executive officer now owns 13,972 shares in the company, valued at approximately $3,546,931.92. The trade was a 30.91 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Sayan Chakraborty sold 6,056 shares of the company's stock in a transaction on Thursday, February 27th. The stock was 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 trade represents a 5.16 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 487,145 shares of company stock worth $123,289,438. 20.00% of the stock is 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.