William Blair Investment Management LLC Trims Position in Workday, Inc. (NASDAQ:WDAY)

William Blair Investment Management LLC lowered its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 3.2% in the fourth quarter, according to its most recent 13F filing with the SEC. The fund owned 35,355 shares of the software maker's stock after selling 1,181 shares during the period. William Blair Investment Management LLC's holdings in Workday were worth $9,123,000 at the end of the most recent quarter.

A number of other hedge funds have also recently modified their holdings of the stock. TCTC Holdings LLC acquired a new position in Workday in the fourth quarter valued at approximately $35,000. Parallel Advisors LLC lifted its stake in shares of Workday by 3.9% in the 4th quarter. Parallel Advisors LLC now owns 2,636 shares of the software maker's stock valued at $680,000 after purchasing an additional 99 shares during the period. Cibc World Markets Corp boosted its holdings in Workday by 125.1% during the fourth quarter. Cibc World Markets Corp now owns 38,312 shares of the software maker's stock worth $9,886,000 after buying an additional 21,291 shares in the last quarter. Envestnet Portfolio Solutions Inc. grew its position in Workday by 1.8% during the fourth quarter. Envestnet Portfolio Solutions Inc. now owns 17,750 shares of the software maker's stock valued at $4,580,000 after buying an additional 306 shares during the period. Finally, Pollock Investment Advisors LLC purchased a new position in Workday in the fourth quarter valued at $502,000. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insider Buying and Selling

In related news, Director Wayne A.I. Frederick sold 1,829 shares of the business's stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value of $462,901.61. Following the sale, the director now directly owns 6,845 shares in the company, valued at $1,732,401.05. The trade was a 21.09 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 71,672 shares of the firm's stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the transaction, the insider now owns 102,997 shares of the company's stock, valued at $25,602,994.26. This trade represents a 41.03 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 417,001 shares of company stock worth $105,735,200 in the last quarter. Company insiders own 20.00% of the company's stock.

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Analyst Ratings Changes

Several research firms have recently issued reports on WDAY. Piper Sandler increased their target price on shares of Workday from $270.00 to $290.00 and gave the stock a "neutral" rating in a research note on Wednesday, February 26th. Loop Capital boosted their price objective on Workday from $242.00 to $260.00 and gave the company a "hold" rating in a research report on Wednesday, February 19th. StockNews.com downgraded shares of Workday from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Daiwa America raised shares of Workday to a "strong-buy" rating in a research note on Tuesday, March 4th. Finally, Wells Fargo & Company upped their price objective on shares of Workday from $330.00 to $360.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $300.36.

Workday Price Performance

WDAY stock traded up $0.42 on Monday, reaching $249.91. 2,022,118 shares of the company's stock were exchanged, compared to its average volume of 2,427,576. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The stock has a fifty day moving average of $256.76 and a 200-day moving average of $255.09. The firm has a market cap of $66.48 billion, a PE ratio of 41.44, a P/E/G ratio of 3.55 and a beta of 1.38.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 EPS for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. As a group, equities analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.