Peregrine Capital Management LLC Trims Stock Position in Workday, Inc. (NASDAQ:WDAY)

Peregrine Capital Management LLC reduced its position in Workday, Inc. (NASDAQ:WDAY) by 4.6% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 214,405 shares of the software maker’s stock after selling 10,299 shares during the quarter. Workday accounts for about 1.6% of Peregrine Capital Management LLC’s holdings, making the stock its 10th largest holding. Peregrine Capital Management LLC owned approximately 0.08% of Workday worth $55,323,000 at the end of the most recent reporting period.

Several other institutional investors have also recently modified their holdings of WDAY. Janus Henderson Group PLC raised its stake 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 acquiring an additional 480,459 shares in the last quarter. State Street Corp boosted its position in Workday by 1.4% during the third quarter. State Street Corp now owns 4,842,729 shares of the software maker’s stock valued at $1,183,611,000 after buying an additional 67,380 shares during the period. Geode Capital Management LLC boosted its position in Workday by 2.7% during the third quarter. Geode Capital Management LLC now owns 2,865,164 shares of the software maker’s stock valued at $698,285,000 after buying an additional 76,618 shares during the period. The Manufacturers Life Insurance Company grew its stake in shares of Workday by 0.6% during the third 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 during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of Workday by 4.0% in 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 valued at $482,133,000 after acquiring an additional 75,747 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors.

Workday Stock Down 0.8 %

Shares of Workday stock opened at $258.05 on Tuesday. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $311.28. The company has a market cap of $68.64 billion, a price-to-earnings ratio of 42.79, a price-to-earnings-growth ratio of 3.78 and a beta of 1.35. The company’s 50 day moving average is $262.13 and its 200 day moving average is $251.80.

Workday (NASDAQ:WDAY) last released its quarterly earnings results on Tuesday, November 26th. The software maker reported $1.89 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.76 by $0.13. The firm had revenue of $2.16 billion for the quarter, compared to the consensus estimate of $2.13 billion. Workday had a return on equity of 6.13% and a net margin of 19.86%. The company’s revenue for the quarter was up 15.8% on a year-over-year basis. During the same period last year, the business posted $0.47 EPS. Research analysts anticipate that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity

In related news, insider Sayan Chakraborty sold 5,498 shares of the business’s stock in a transaction that occurred on Friday, November 29th. The stock was sold at an average price of $250.78, for a total transaction of $1,378,788.44. Following the completion of the transaction, the insider now directly owns 121,100 shares in the company, valued at approximately $30,369,458. The trade was a 4.34 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Director Wayne A.I. Frederick sold 1,829 shares of the firm’s stock in a transaction that occurred 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 sale, the director now owns 6,845 shares in the company, valued at approximately $1,732,401.05. The trade was a 21.09 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 438,819 shares of company stock valued at $113,142,592 in the last quarter. 20.00% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

WDAY has been the topic of a number of analyst reports. Oppenheimer reaffirmed an “outperform” rating and issued a $300.00 price target on shares of Workday in a research note on Tuesday, December 3rd. Loop Capital lowered their price target on shares of Workday from $270.00 to $242.00 and set a “hold” rating for the company in a report on Wednesday, November 27th. Guggenheim raised shares of Workday from a “sell” rating to a “neutral” rating in a report on Monday, January 6th. Needham & Company LLC reaffirmed a “buy” rating and set a $300.00 price objective on shares of Workday in a research note on Thursday, February 6th. Finally, The Goldman Sachs Group raised their target price on Workday from $300.00 to $310.00 and gave the stock a “buy” rating in a research note on Thursday, February 6th. Eight analysts have rated the stock with a hold rating and twenty-one have issued a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $292.43.

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.