Kayne Anderson Rudnick Investment Management LLC Sells 4,979 Shares of Workday, Inc. (NASDAQ:WDAY)

Kayne Anderson Rudnick Investment Management LLC trimmed its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.8% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 173,342 shares of the software maker's stock after selling 4,979 shares during the quarter. Kayne Anderson Rudnick Investment Management LLC owned approximately 0.07% of Workday worth $44,728,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in WDAY. Virtu Financial LLC bought a new position in shares of Workday in the 3rd quarter worth $2,289,000. Anchor Investment Management LLC boosted its holdings in Workday by 6.1% during the third quarter. Anchor Investment Management LLC now owns 6,352 shares of the software maker's stock worth $1,552,000 after buying an additional 368 shares during the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Workday during the 3rd quarter worth about $4,893,000. Tidal Investments LLC increased its stake in shares of Workday by 43.8% in the 3rd quarter. Tidal Investments LLC now owns 13,546 shares of the software maker's stock valued at $3,311,000 after acquiring an additional 4,128 shares during the last quarter. Finally, Synovus Financial Corp grew its holdings in Workday by 5.7% during the third quarter. Synovus Financial Corp now owns 19,590 shares of the software maker's stock valued at $4,788,000 after purchasing an additional 1,051 shares during the period. 89.81% of the stock is owned by institutional investors.

Analysts Set New Price Targets

WDAY has been the subject of a number of recent analyst reports. The Goldman Sachs Group upped their price objective on shares of Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research report on Wednesday, February 26th. BMO Capital Markets lifted their price objective on Workday from $300.00 to $314.00 and gave the company an "outperform" rating in a report on Thursday, February 27th. JPMorgan Chase & Co. boosted their price objective on Workday from $285.00 to $310.00 and gave the company an "overweight" rating in a research report on Wednesday, February 26th. Stifel Nicolaus raised their target price on shares of Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a report on Wednesday, February 26th. Finally, Redburn Atlantic began coverage on shares of Workday in a report on Wednesday, February 19th. They issued a "neutral" rating for the company. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have assigned a strong buy rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $292.86.

Insider Buying and Selling

In related news, insider Sayan Chakraborty sold 6,056 shares of Workday stock in a transaction that occurred on Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the sale, the insider now owns 111,324 shares of the company's stock, valued at approximately $29,556,522. The trade was a 5.16 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, CEO Carl M. Eschenbach sold 3,125 shares of the company's stock in a transaction on Wednesday, April 2nd. The shares were sold at an average price of $234.61, for a total value of $733,156.25. Following the transaction, the chief executive officer now directly owns 10,847 shares in the company, valued at $2,544,814.67. This represents a 22.37 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 321,724 shares of company stock worth $77,976,126. 20.00% of the stock is owned by company insiders.

Workday Stock Up 5.3 %

WDAY traded up $12.00 during mid-day trading on Thursday, reaching $236.87. 1,685,062 shares of the stock were exchanged, compared to its average volume of 2,629,536. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. 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 stock has a market capitalization of $63.01 billion, a PE ratio of 39.28, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32. The company has a 50 day moving average price of $241.68 and a two-hundred day moving average price of $251.76.

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

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.