Workday, Inc. (NASDAQ:WDAY) Shares Sold by Bares Capital Management Inc.

Bares Capital Management Inc. lessened its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 43.6% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 652,132 shares of the software maker's stock after selling 503,543 shares during the period. Workday makes up about 14.5% of Bares Capital Management Inc.'s portfolio, making the stock its 3rd largest holding. Bares Capital Management Inc. owned approximately 0.25% of Workday worth $159,388,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of WDAY. The Manufacturers Life Insurance Company lifted its position in shares of Workday by 79.1% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 2,302,008 shares of the software maker's stock valued at $514,637,000 after acquiring an additional 1,016,394 shares during the period. Van ECK Associates Corp lifted its position in shares of Workday by 17,345.2% during the 2nd quarter. Van ECK Associates Corp now owns 930,701 shares of the software maker's stock worth $208,068,000 after buying an additional 925,366 shares in the last quarter. Two Sigma Advisers LP raised its stake in shares of Workday by 1,094.2% during the 3rd quarter. Two Sigma Advisers LP now owns 613,800 shares of the software maker's stock worth $150,019,000 after purchasing an additional 562,400 shares during the period. Janus Henderson Group PLC increased its position in Workday by 10.7% in the third quarter. Janus Henderson Group PLC now owns 4,985,131 shares of the software maker's stock worth $1,218,415,000 after buying an additional 480,459 shares during the last quarter. Finally, Zurich Insurance Group Ltd FI purchased a new stake in shares of Workday during the 3rd quarter valued at approximately $78,003,000. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Trading Down 3.2 %

Shares of WDAY stock traded down $9.03 during mid-day trading on Tuesday, hitting $270.88. The company's stock had a trading volume of 5,642,511 shares, compared to its average volume of 2,229,805. The company has a market cap of $71.78 billion, a PE ratio of 44.92, a P/E/G ratio of 4.91 and a beta of 1.34. The company's fifty day simple moving average is $251.13 and its 200-day simple moving average is $237.53. 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, Inc. has a 52 week low of $199.81 and a 52 week high of $311.28.

Workday (NASDAQ:WDAY - Get Free Report) last released its earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) 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 company had revenue of $2.16 billion during the quarter, compared to analyst estimates of $2.13 billion. During the same period in the prior year, the company posted $0.47 earnings per share. Workday's quarterly revenue was up 15.8% on a year-over-year basis. As a group, equities research analysts expect that Workday, Inc. will post 2.58 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on WDAY. BMO Capital Markets reiterated an "outperform" rating and issued a $300.00 price objective on shares of Workday in a report on Wednesday, September 18th. The Goldman Sachs Group raised their price objective on shares of Workday from $300.00 to $305.00 and gave the stock a "buy" rating in a report on Thursday, September 19th. Oppenheimer reissued an "outperform" rating and issued a $300.00 price target on shares of Workday in a research report on Tuesday, December 3rd. Morgan Stanley lifted their target price on shares of Workday from $315.00 to $330.00 and gave the stock an "overweight" rating in a report on Wednesday, November 27th. Finally, JMP Securities reiterated a "market outperform" rating and issued a $315.00 price target on shares of Workday in a research report on Thursday, September 19th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and twenty have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and an average target price of $289.21.

Insiders Place Their Bets

In other Workday news, insider Richard Harry Sauer sold 3,134 shares of the firm's stock in a transaction dated Tuesday, October 8th. The stock was sold at an average price of $235.78, for a total value of $738,934.52. Following the transaction, the insider now directly owns 85,795 shares of the company's stock, valued at approximately $20,228,745.10. This trade represents a 3.52 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,828 shares of the stock in a transaction dated 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 $2,097,806.90. This trade represents a 17.41 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 361,463 shares of company stock valued at $88,422,088 over the last three months. Insiders own 20.00% of the company's stock.

Workday Company 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.