North Peak Capital Management LLC Cuts Stock Position in Workday, Inc. (NASDAQ:WDAY)

North Peak Capital Management LLC lessened its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 27.1% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 420,003 shares of the software maker's stock after selling 156,342 shares during the quarter. Workday accounts for approximately 14.4% of North Peak Capital Management LLC's portfolio, making the stock its 3rd largest holding. North Peak Capital Management LLC owned about 0.16% of Workday worth $108,373,000 at the end of the most recent reporting period.

Several other hedge funds have also recently added to or reduced their stakes in WDAY. BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Workday by 11.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 24,371 shares of the software maker's stock valued at $6,288,000 after purchasing an additional 2,594 shares in the last quarter. Capital World Investors boosted its position in Workday by 1.3% during the fourth quarter. Capital World Investors now owns 355,364 shares of the software maker's stock valued at $91,695,000 after buying an additional 4,394 shares during the period. Dimensional Fund Advisors LP boosted its position in Workday by 40.7% during the fourth quarter. Dimensional Fund Advisors LP now owns 350,829 shares of the software maker's stock valued at $90,545,000 after buying an additional 101,466 shares during the period. First Trust Advisors LP grew its stake in shares of Workday by 3.0% during the fourth quarter. First Trust Advisors LP now owns 1,326,036 shares of the software maker's stock valued at $342,157,000 after buying an additional 38,855 shares during the last quarter. Finally, Forum Financial Management LP purchased a new position in shares of Workday in the fourth quarter worth about $287,000. Institutional investors own 89.81% of the company's stock.

Insider Buying and Selling at Workday

In other news, insider Sayan Chakraborty sold 6,056 shares of the stock in a transaction 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 completion of the sale, the insider now directly owns 111,324 shares of the company's stock, valued at $29,556,522. This represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder David A. Duffield sold 66,455 shares of the firm's stock in a transaction dated Monday, March 3rd. The shares were sold at an average price of $259.52, for a total value of $17,246,401.60. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $26,729,781.44. This represents a 39.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 321,724 shares of company stock valued at $77,976,126. Company insiders own 20.00% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on WDAY. Morgan Stanley reduced their price target on Workday from $275.00 to $250.00 and set an "equal weight" rating on the stock in a research report on Wednesday, April 16th. BNP Paribas upgraded shares of Workday to a "strong-buy" rating in a report on Friday, February 14th. KeyCorp lifted their target price on shares of Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a research note on Wednesday, February 26th. Oppenheimer raised their price target on shares of Workday from $300.00 to $320.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Finally, Deutsche Bank Aktiengesellschaft upgraded shares of Workday from a "hold" rating to a "buy" rating and boosted their price objective for the company from $265.00 to $300.00 in a research report on Wednesday, January 8th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and a consensus target price of $292.86.

Workday Stock Performance

Workday stock traded up $3.88 during midday trading on Wednesday, reaching $224.87. 1,655,028 shares of the company traded hands, compared to its average volume of 2,622,104. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The business has a 50 day moving average of $242.34 and a two-hundred day moving average of $251.95. The firm has a market capitalization of $59.82 billion, a price-to-earnings ratio of 37.29, a price-to-earnings-growth ratio of 3.55 and a beta of 1.32.

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 the consensus estimate of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, research analysts predict that Workday, Inc. will post 2.63 earnings per share for the current 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.