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

Polen Capital Management LLC reduced its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 10.7% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 4,287,623 shares of the software maker's stock after selling 514,903 shares during the period. Workday accounts for about 3.0% of Polen Capital Management LLC's portfolio, making the stock its 17th largest position. Polen Capital Management LLC owned approximately 1.61% of Workday worth $1,106,335,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of WDAY. Parnassus Investments LLC raised its position in Workday by 562.2% during the 4th quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker's stock worth $631,589,000 after buying an additional 2,078,097 shares during the last quarter. Raymond James Financial Inc. purchased a new position in Workday during the 4th quarter worth approximately $194,679,000. Two Sigma Advisers LP raised its position in 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 buying an additional 562,400 shares during the last quarter. Charles Schwab Investment Management Inc. raised its position in Workday by 62.8% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 1,360,002 shares of the software maker's stock worth $350,921,000 after buying an additional 524,799 shares during the last quarter. Finally, KBC Group NV raised its position in Workday by 340.3% during the 4th quarter. KBC Group NV now owns 655,733 shares of the software maker's stock worth $169,199,000 after buying an additional 506,812 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

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Workday Trading Down 0.8 %

NASDAQ:WDAY traded down $2.03 on Thursday, reaching $250.47. 1,732,315 shares of the company's stock were exchanged, compared to its average volume of 2,418,416. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. The firm has a market capitalization of $66.63 billion, a price-to-earnings ratio of 41.54, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The business has a fifty day moving average of $256.84 and a 200-day moving average of $255.28. Workday, Inc. has a 52-week low of $199.81 and a 52-week 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 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $1.75 by ($1.27). The business 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, analysts expect that Workday, Inc. will post 2.63 earnings per share for the current year.

Insiders Place Their Bets

In related news, major shareholder David A. Duffield sold 71,672 shares of the company's stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the sale, the insider now directly owns 102,997 shares in the company, valued at approximately $25,602,994.26. This represents a 41.03 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction that occurred on Monday, January 6th. The stock was sold at an average price of $253.86, for a total transaction of $1,586,625.00. Following the sale, the chief executive officer now owns 13,972 shares in the company, valued at $3,546,931.92. The trade was a 30.91 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 473,001 shares of company stock worth $120,614,400 over the last three months. Company insiders own 20.00% of the company's stock.

Analysts Set New Price Targets

WDAY has been the subject of several recent research reports. Needham & Company LLC reaffirmed a "buy" rating and set a $300.00 target price on shares of Workday in a report on Wednesday, February 26th. KeyCorp lifted their target price on shares of Workday from $305.00 to $335.00 and gave the company an "overweight" rating in a report on Wednesday, February 26th. Citigroup cut their target price on shares of Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a report on Thursday, January 16th. Piper Sandler boosted 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. Finally, Stifel Nicolaus boosted their price target on shares of Workday from $270.00 to $310.00 and gave the stock a "hold" rating in a report on Wednesday, February 26th. Ten equities research 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 company's stock. Based on data from MarketBeat.com, Workday currently has an average rating of "Moderate Buy" and a consensus target price of $300.36.

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.