William Blair Investment Management LLC Boosts Holdings in Workday, Inc. (NASDAQ:WDAY)

William Blair Investment Management LLC raised its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 17.6% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 32,442 shares of the software maker's stock after acquiring an additional 4,865 shares during the quarter. William Blair Investment Management LLC's holdings in Workday were worth $8,849,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. Exchange Traded Concepts LLC grew its holdings in shares of Workday by 1,750.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 111 shares of the software maker's stock worth $31,000 after buying an additional 105 shares in the last quarter. Sound Income Strategies LLC grew its holdings in shares of Workday by 74.2% during the first quarter. Sound Income Strategies LLC now owns 115 shares of the software maker's stock worth $31,000 after buying an additional 49 shares in the last quarter. CVA Family Office LLC purchased a new stake in shares of Workday during the fourth quarter worth about $33,000. Friedenthal Financial purchased a new stake in shares of Workday during the fourth quarter worth about $43,000. Finally, VisionPoint Advisory Group LLC grew its holdings in shares of Workday by 27.6% during the fourth quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker's stock worth $43,000 after buying an additional 34 shares in the last quarter. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on WDAY shares. BMO Capital Markets lowered their price target on shares of Workday from $338.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, May 24th. Royal Bank of Canada lowered their target price on shares of Workday from $310.00 to $300.00 and set an "outperform" rating for the company in a report on Friday, May 24th. Guggenheim restated a "sell" rating and issued a $190.00 target price on shares of Workday in a report on Tuesday, June 25th. UBS Group lowered their target price on shares of Workday from $280.00 to $255.00 and set a "neutral" rating for the company in a report on Friday, May 24th. Finally, Citigroup lowered their target price on shares of Workday from $293.00 to $255.00 and set a "neutral" rating for the company in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have given a buy rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $281.44.

Workday Stock Down 1.7 %

Shares of NASDAQ:WDAY traded down $4.00 during midday trading on Wednesday, reaching $231.63. The company had a trading volume of 2,087,198 shares, compared to its average volume of 2,195,465. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00. The stock's fifty day moving average price is $226.77 and its 200-day moving average price is $259.33. The stock has a market capitalization of $61.38 billion, a P/E ratio of 41.74, a PEG ratio of 5.86 and a beta of 1.35. Workday, Inc. has a one year low of $202.01 and a one year high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results on Thursday, May 23rd. The software maker reported $0.51 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.31 by $0.20. The business had revenue of $1.99 billion during the quarter, compared to analyst estimates of $1.97 billion. Workday had a net margin of 19.66% and a return on equity of 5.78%. The business's revenue was up 18.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.16 earnings per share. Equities research analysts expect that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Insider Buying and Selling at Workday

In other Workday news, major shareholder David A. Duffield sold 56,000 shares of the business's stock in a transaction on Friday, July 12th. The shares were sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the completion of the sale, the insider now owns 562,000 shares in the company, valued at $128,877,840. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In other Workday news, insider Douglas A. Robinson sold 3,121 shares of the business's stock in a transaction on Tuesday, May 28th. The shares were sold at an average price of $214.44, for a total transaction of $669,267.24. Following the completion of the sale, the insider now owns 204,066 shares in the company, valued at $43,759,913.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, major shareholder David A. Duffield sold 56,000 shares of the company's stock in a transaction dated Friday, July 12th. The stock was sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the transaction, the insider now owns 562,000 shares of the company's stock, valued at approximately $128,877,840. The disclosure for this sale can be found here. Insiders sold a total of 524,672 shares of company stock worth $115,938,834 over the last 90 days. Insiders own 20.00% of the company's stock.

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.

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