Edgestream Partners L.P. Sells 5,566 Shares of Workday, Inc. (NASDAQ:WDAY)

Edgestream Partners L.P. cut its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 44.6% in the fourth quarter, according to its most recent disclosure with the SEC. The firm owned 6,904 shares of the software maker's stock after selling 5,566 shares during the period. Edgestream Partners L.P.'s holdings in Workday were worth $1,781,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Janus Henderson Group PLC increased its position in shares of Workday by 10.7% during 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 purchasing an additional 480,459 shares in the last quarter. State Street Corp lifted its stake in Workday by 1.4% in the 3rd quarter. State Street Corp now owns 4,842,729 shares of the software maker's stock worth $1,183,611,000 after purchasing an additional 67,380 shares in the last quarter. Geode Capital Management LLC boosted its holdings in shares of Workday by 2.7% during the 3rd quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker's stock worth $698,285,000 after purchasing an additional 76,618 shares during the last quarter. The Manufacturers Life Insurance Company grew its holdings in Workday by 0.6% in the 3rd quarter. The Manufacturers Life Insurance Company now owns 2,316,167 shares of the software maker's stock valued at $566,094,000 after buying an additional 14,159 shares in the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of Workday by 4.0% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,972,642 shares of the software maker's stock worth $482,133,000 after acquiring an additional 75,747 shares during the period. 89.81% of the stock is owned by hedge funds and other institutional investors.

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Insiders Place Their Bets

In other Workday news, Director Wayne A.I. Frederick sold 1,829 shares of the stock in a transaction on Thursday, January 2nd. The stock was sold at an average price of $253.09, for a total transaction of $462,901.61. Following the completion of the transaction, the director now directly owns 6,845 shares of the company's stock, valued at approximately $1,732,401.05. This trade represents a 21.09 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, major shareholder David A. Duffield sold 66,455 shares of the business's stock in a transaction dated Monday, March 3rd. The stock was sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the completion of the sale, the insider now owns 102,997 shares in the company, valued at approximately $26,729,781.44. This trade represents a 39.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 435,829 shares of company stock worth $113,033,319. 20.00% of the stock is owned by corporate insiders.

Workday Stock Performance

NASDAQ:WDAY traded down $0.28 during midday trading on Wednesday, reaching $242.65. 996,617 shares of the company traded hands, compared to its average volume of 2,417,652. The firm has a market capitalization of $64.54 billion, a price-to-earnings ratio of 40.36, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a fifty day moving average price of $257.71 and a 200 day moving average price of $255.90. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last issued its quarterly earnings results 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 net margin of 19.86% and a return on equity of 6.13%. The business had revenue of $2.21 billion for the quarter, compared to analyst estimates of $2.18 billion. On average, analysts expect that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analyst Ratings Changes

WDAY has been the subject of a number of recent analyst reports. Piper Sandler raised their price target on shares of Workday from $270.00 to $290.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. Royal Bank of Canada boosted their price target on shares of Workday from $320.00 to $340.00 and gave the company an "outperform" rating in a research note on Wednesday, February 26th. Needham & Company LLC reissued a "buy" rating and issued a $300.00 price objective on shares of Workday in a research note on Wednesday, February 26th. JMP Securities reiterated a "market outperform" rating and set a $315.00 price target on shares of Workday in a report on Thursday, February 6th. Finally, BMO Capital Markets boosted their price objective on shares of Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a research report on Thursday, February 27th. Ten investment analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat.com, Workday currently has a consensus rating of "Moderate Buy" and an average target price of $302.14.

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.