Townsquare Capital LLC Sells 3,820 Shares of Workday, Inc. (NASDAQ:WDAY)

Townsquare Capital LLC decreased its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.5% during the 4th quarter, according to its most recent filing with the SEC. The institutional investor owned 106,669 shares of the software maker's stock after selling 3,820 shares during the period. Townsquare Capital LLC's holdings in Workday were worth $27,524,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Bristlecone Advisors LLC raised its holdings in shares of Workday by 49.6% in the 4th quarter. Bristlecone Advisors LLC now owns 2,921 shares of the software maker's stock valued at $754,000 after purchasing an additional 968 shares during the period. Sanctuary Advisors LLC raised its stake in Workday by 7.2% in the third quarter. Sanctuary Advisors LLC now owns 29,633 shares of the software maker's stock valued at $7,934,000 after buying an additional 1,978 shares during the period. Nordea Investment Management AB lifted its position in shares of Workday by 20.5% in the fourth quarter. Nordea Investment Management AB now owns 702,990 shares of the software maker's stock valued at $182,753,000 after buying an additional 119,769 shares during the last quarter. Burns Matteson Capital Management LLC acquired a new stake in shares of Workday in the fourth quarter valued at approximately $369,000. Finally, Principal Financial Group Inc. boosted its stake in shares of Workday by 45.0% during the 3rd quarter. Principal Financial Group Inc. now owns 17,794 shares of the software maker's stock worth $4,349,000 after acquiring an additional 5,519 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

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Analyst Ratings Changes

Several equities analysts have commented on the stock. Redburn Atlantic began coverage on shares of Workday in a report on Wednesday, February 19th. They issued a "neutral" rating on the stock. KeyCorp boosted their price objective on shares of Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. JPMorgan Chase & Co. raised their target price on shares of Workday from $285.00 to $310.00 and gave the stock an "overweight" rating in a report on Wednesday, February 26th. Canaccord Genuity Group increased their price target on Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. Finally, StockNews.com lowered Workday from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and a consensus target price of $296.25.

Insider Activity

In related news, insider Sayan Chakraborty sold 6,056 shares of the company'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 value of $1,607,868.00. Following the sale, the insider now owns 111,324 shares in the company, valued at $29,556,522. This represents a 5.16 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 81,275 shares of the company's stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the transaction, the insider now owns 102,997 shares in the company, valued at approximately $22,111,395.96. This represents a 44.11 % decrease in their position. 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. Corporate insiders own 20.00% of the company's stock.

Workday Stock Performance

Workday stock traded down $5.61 during mid-day trading on Wednesday, reaching $227.71. The company's stock had a trading volume of 1,961,949 shares, compared to its average volume of 2,612,219. The company has a market capitalization of $60.57 billion, a P/E ratio of 37.76, a PEG ratio of 3.55 and a beta of 1.32. The firm's fifty day moving average price is $246.70 and its two-hundred day moving average price is $252.65. Workday, Inc. has a 12-month low of $199.81 and a 12-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.

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 (EPS) 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 the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Sell-side analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.