Montag & Caldwell LLC Has $8.08 Million Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Montag & Caldwell LLC decreased its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 6.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 31,306 shares of the software maker's stock after selling 2,202 shares during the quarter. Workday makes up about 1.7% of Montag & Caldwell LLC's holdings, making the stock its 23rd largest position. Montag & Caldwell LLC's holdings in Workday were worth $8,078,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Virtu Financial LLC purchased a new stake in Workday during the 3rd quarter valued at approximately $2,289,000. Anchor Investment Management LLC increased its holdings in shares of Workday by 6.1% in the third quarter. Anchor Investment Management LLC now owns 6,352 shares of the software maker's stock valued at $1,552,000 after purchasing an additional 368 shares during the period. Wilmington Savings Fund Society FSB purchased a new stake in shares of Workday during the third quarter worth approximately $4,893,000. Tidal Investments LLC lifted its holdings in shares of Workday by 43.8% during the third quarter. Tidal Investments LLC now owns 13,546 shares of the software maker's stock worth $3,311,000 after purchasing an additional 4,128 shares during the period. Finally, Synovus Financial Corp grew its position in Workday by 5.7% in the 3rd quarter. Synovus Financial Corp now owns 19,590 shares of the software maker's stock valued at $4,788,000 after buying an additional 1,051 shares during the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Stock Performance

NASDAQ WDAY traded down $6.69 on Friday, hitting $221.02. The stock had a trading volume of 1,894,875 shares, compared to its average volume of 2,620,204. The company's 50-day moving average is $244.00 and its two-hundred day moving average is $252.18. The stock has a market cap of $58.79 billion, a price-to-earnings ratio of 36.65, a P/E/G ratio of 3.55 and a beta of 1.32. 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, Inc. has a one year low of $199.81 and a one year high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its 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). 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%. On average, analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insider Buying and Selling 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 stock was sold at an average price of $265.50, for a total transaction 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. The trade was a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction on Tuesday, April 8th. The shares were sold at an average price of $214.68, for a total value of $17,448,117.00. Following the transaction, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $22,111,395.96. The trade was a 44.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 321,724 shares of company stock valued at $77,976,126. Company insiders own 20.00% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have issued reports on the company. Royal Bank of Canada increased their price objective on Workday from $320.00 to $340.00 and gave the stock an "outperform" rating in a research report on Wednesday, February 26th. JPMorgan Chase & Co. boosted their price objective on shares of Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Loop Capital upped their target price on shares of Workday from $242.00 to $260.00 and gave the stock a "hold" rating in a research report on Wednesday, February 19th. Scotiabank reduced their price target on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a research report on Monday, March 17th. Finally, DA Davidson lowered their price target on Workday from $270.00 to $230.00 and set a "neutral" rating on the stock in a report on Monday, April 14th. Ten research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and a consensus price target of $296.25.

About Workday

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.