Workday, Inc. (NASDAQ:WDAY) Shares Sold by Entropy Technologies LP

Entropy Technologies LP trimmed its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 53.9% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 12,705 shares of the software maker's stock after selling 14,846 shares during the period. Entropy Technologies LP's holdings in Workday were worth $3,105,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Dorsey & Whitney Trust CO LLC grew its holdings in shares of Workday by 4.4% in the first quarter. Dorsey & Whitney Trust CO LLC now owns 1,031 shares of the software maker's stock valued at $281,000 after purchasing an additional 43 shares during the period. Diversified Trust Co grew its holdings in shares of Workday by 1.0% in the second quarter. Diversified Trust Co now owns 4,830 shares of the software maker's stock valued at $1,080,000 after purchasing an additional 47 shares during the period. Opal Wealth Advisors LLC grew its holdings in shares of Workday by 5.2% in the third quarter. Opal Wealth Advisors LLC now owns 946 shares of the software maker's stock valued at $231,000 after purchasing an additional 47 shares during the period. Mesirow Financial Investment Management Inc. grew its holdings in shares of Workday by 3.4% in the second quarter. Mesirow Financial Investment Management Inc. now owns 1,451 shares of the software maker's stock valued at $324,000 after purchasing an additional 48 shares during the period. Finally, Aspen Investment Management Inc grew its holdings in shares of Workday by 3.1% in the second quarter. Aspen Investment Management Inc now owns 1,650 shares of the software maker's stock valued at $369,000 after purchasing an additional 50 shares during the period. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Workday

In other Workday news, Director Wayne A.I. Frederick sold 1,828 shares of the firm's stock in a transaction on Friday, October 11th. The shares were sold at an average price of $241.85, for a total transaction of $442,101.80. Following the transaction, the director now directly owns 8,674 shares of the company's stock, valued at approximately $2,097,806.90. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. In other news, Director Wayne A.I. Frederick sold 1,828 shares of the business's stock in a transaction that occurred on Friday, October 11th. The stock was sold at an average price of $241.85, for a total value of $442,101.80. Following the transaction, the director now owns 8,674 shares of the company's stock, valued at approximately $2,097,806.90. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder David A. Duffield sold 66,492 shares of the stock in a transaction on Tuesday, September 3rd. The stock was sold at an average price of $261.20, for a total value of $17,367,710.40. Following the sale, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $26,902,816.40. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 370,575 shares of company stock worth $91,506,897. 20.00% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on WDAY shares. Bank of America upped their price objective on shares of Workday from $265.00 to $310.00 and gave the company a "buy" rating in a report on Friday, August 23rd. Morgan Stanley lowered their target price on shares of Workday from $325.00 to $315.00 and set an "overweight" rating for the company in a research note on Friday, August 23rd. Canaccord Genuity Group reaffirmed a "buy" rating and set a $300.00 target price on shares of Workday in a research note on Friday, September 13th. The Goldman Sachs Group increased their target price on shares of Workday from $300.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, September 19th. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $315.00 target price on shares of Workday in a research note on Thursday, September 19th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $287.04.

Workday Stock Up 2.3 %

Shares of NASDAQ:WDAY traded up $6.17 during trading on Tuesday, hitting $270.32. 2,668,577 shares of the company were exchanged, compared to its average volume of 2,102,922. The company has a debt-to-equity ratio of 0.36, a current ratio of 2.04 and a quick ratio of 2.04. The firm's 50 day moving average price is $245.77 and its 200-day moving average price is $235.86. The stock has a market capitalization of $71.63 billion, a P/E ratio of 46.02, a PEG ratio of 5.09 and a beta of 1.35. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last released its quarterly earnings data on Thursday, August 22nd. The software maker reported $1.75 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.65 by $0.10. Workday had a net margin of 19.59% and a return on equity of 5.34%. The company had revenue of $2.09 billion during the quarter, compared to the consensus estimate of $2.07 billion. During the same quarter in the prior year, the firm posted $0.40 earnings per share. Workday's revenue for the quarter was up 16.5% on a year-over-year basis. On average, research analysts predict that Workday, Inc. will post 2.4 earnings per share 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.