William Blair Investment Management LLC Lowers Position in Workday, Inc. (NASDAQ:WDAY)

William Blair Investment Management LLC cut its position in shares of Workday, Inc. (NASDAQ:WDAY) by 3.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,355 shares of the software maker’s stock after selling 1,181 shares during the period. William Blair Investment Management LLC’s holdings in Workday were worth $9,123,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC boosted its stake in shares of Workday by 10.7% during the 3rd 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 worth $1,183,611,000 after purchasing an additional 67,380 shares in the last quarter. 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 worth $698,285,000 after purchasing an additional 76,618 shares in the last quarter. Parnassus Investments LLC boosted its position in Workday by 562.2% during the fourth quarter. Parnassus Investments LLC now owns 2,447,735 shares of the software maker’s stock worth $631,589,000 after purchasing an additional 2,078,097 shares in the last quarter. Finally, The Manufacturers Life Insurance Company boosted its position in 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 worth $566,094,000 after purchasing an additional 14,159 shares in the last quarter. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

WDAY has been the topic of a number of recent analyst reports. Redburn Atlantic initiated coverage on Workday in a research report on Wednesday, February 19th. They set a “neutral” rating on the stock. UBS Group increased their price objective on shares of Workday from $255.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, February 26th. Guggenheim reaffirmed a “neutral” rating on shares of Workday in a report on Wednesday, February 26th. KeyCorp raised their price target on shares of Workday from $305.00 to $335.00 and gave the company an “overweight” rating in a research note on Wednesday, February 26th. Finally, Needham & Company LLC reaffirmed a “buy” rating and issued a $300.00 price target on shares of Workday in a research note on Wednesday, February 26th. Ten investment analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company. According to MarketBeat, Workday has an average rating of “Moderate Buy” and a consensus price target of $300.36.

Insider Transactions at Workday

In related news, major shareholder David A. Duffield sold 71,672 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $248.58, for a total transaction of $17,816,225.76. Following the transaction, the insider now owns 102,997 shares of the company’s stock, valued at approximately $25,602,994.26. This represents a 41.03 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Wayne A.I. Frederick sold 1,829 shares of Workday stock in a transaction dated Thursday, January 2nd. The shares were sold at an average price of $253.09, for a total value 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 represents a 21.09 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 473,001 shares of company stock worth $120,614,400 over the last ninety days. Company insiders own 20.00% of the company’s stock.

Workday Trading Up 0.2 %

Shares of WDAY stock opened at $252.50 on Thursday. Workday, Inc. has a 1-year low of $199.81 and a 1-year high of $294.00. The firm has a market cap of $67.17 billion, a PE ratio of 41.87, a price-to-earnings-growth ratio of 3.55 and a beta of 1.38. The company has a 50-day moving average of $256.84 and a two-hundred day moving average of $255.28. 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 (NASDAQ:WDAY) last posted its quarterly earnings data on Tuesday, February 25th. The software maker reported $0.48 earnings per share for the quarter, missing analysts’ consensus estimates of $1.75 by ($1.27). Workday had a return on equity of 6.13% and a net margin of 19.86%. The company had revenue of $2.21 billion for the quarter, compared to analysts’ expectations of $2.18 billion. On average, analysts predict that Workday, Inc. will post 2.63 EPS 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.