Van ECK Associates Corp Has $9.82 Million Position in Workday, Inc. (NASDAQ:WDAY)

Van ECK Associates Corp cut its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 95.9% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 38,073 shares of the software maker's stock after selling 896,755 shares during the quarter. Van ECK Associates Corp's holdings in Workday were worth $9,824,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in the business. Capital Performance Advisors LLP bought a new position in shares of Workday in the third quarter worth approximately $26,000. Crews Bank & Trust purchased a new position in Workday during the fourth quarter valued at $26,000. Avion Wealth raised its position in shares of Workday by 452.6% in the 4th quarter. Avion Wealth now owns 105 shares of the software maker's stock worth $27,000 after purchasing an additional 86 shares during the last quarter. Meeder Asset Management Inc. raised its position in shares of Workday by 42.2% in the 3rd quarter. Meeder Asset Management Inc. now owns 145 shares of the software maker's stock worth $35,000 after purchasing an additional 43 shares during the last quarter. Finally, New Millennium Group LLC raised its position in shares of Workday by 177.4% in the 3rd quarter. New Millennium Group LLC now owns 147 shares of the software maker's stock worth $36,000 after purchasing an additional 94 shares during the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Workday

In other Workday news, CAO Mark S. Garfield sold 472 shares of the company's stock in a transaction on Monday, January 13th. The stock was sold at an average price of $248.24, for a total value of $117,169.28. Following the transaction, the chief accounting officer now owns 35,408 shares of the company's stock, valued at approximately $8,789,681.92. This represents a 1.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction on Monday, January 6th. The shares were sold at an average price of $253.86, for a total value of $1,586,625.00. Following the completion of the transaction, the chief executive officer now directly owns 13,972 shares in the company, valued at $3,546,931.92. This represents a 30.91 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 438,819 shares of company stock worth $113,142,592. Company insiders own 20.00% of the company's stock.

Workday Stock Up 0.2 %

Shares of NASDAQ WDAY traded up $0.53 during midday trading on Thursday, reaching $261.63. 1,747,285 shares of the company's stock were exchanged, compared to its average volume of 2,082,300. Workday, Inc. has a 52-week low of $199.81 and a 52-week high of $311.28. The stock has a market capitalization of $69.59 billion, a PE ratio of 43.39, a price-to-earnings-growth ratio of 3.62 and a beta of 1.35. 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 business's fifty day moving average price is $261.36 and its two-hundred day moving average price is $252.47.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Tuesday, November 26th. The software maker reported $1.89 earnings per share for the quarter, beating the consensus estimate of $1.76 by $0.13. Workday had a return on equity of 6.13% and a net margin of 19.86%. The firm had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the previous year, the company earned $0.47 earnings per share. Workday's quarterly revenue was up 15.8% on a year-over-year basis. Analysts forecast that Workday, Inc. will post 2.63 EPS for the current year.

Analysts Set New Price Targets

Several research firms recently commented on WDAY. BNP Paribas upgraded Workday to a "strong-buy" rating in a report on Friday, February 14th. Citigroup lowered their price objective on Workday from $287.00 to $270.00 and set a "neutral" rating on the stock in a research report on Thursday, January 16th. Scotiabank assumed coverage on Workday in a report on Monday, November 18th. They issued a "sector outperform" rating and a $340.00 price target on the stock. StockNews.com cut Workday from a "buy" rating to a "hold" rating in a report on Monday, January 13th. Finally, Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 price objective on shares of Workday in a report on Thursday, February 6th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $291.11.

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.