Donoghue Forlines LLC Reduces Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Donoghue Forlines LLC decreased its holdings in Workday, Inc. (NASDAQ:WDAY) by 69.2% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,993 shares of the software maker’s stock after selling 4,469 shares during the quarter. Donoghue Forlines LLC’s holdings in Workday were worth $544,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Vontobel Holding Ltd. raised its holdings in Workday by 5.1% in the fourth quarter. Vontobel Holding Ltd. now owns 67,077 shares of the software maker’s stock worth $18,517,000 after purchasing an additional 3,260 shares in the last quarter. Assetmark Inc. raised its holdings in Workday by 9.9% in the fourth quarter. Assetmark Inc. now owns 21,414 shares of the software maker’s stock worth $5,912,000 after purchasing an additional 1,933 shares in the last quarter. Bornite Capital Management LP bought a new position in Workday in the fourth quarter worth $34,508,000. Nordea Investment Management AB raised its holdings in Workday by 3.0% in the first quarter. Nordea Investment Management AB now owns 468,915 shares of the software maker’s stock worth $128,851,000 after purchasing an additional 13,502 shares in the last quarter. Finally, Bain Capital Public Equity LP raised its holdings in Workday by 32.5% in the fourth quarter. Bain Capital Public Equity LP now owns 22,471 shares of the software maker’s stock worth $6,203,000 after purchasing an additional 5,513 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Workday Stock Performance

Shares of WDAY stock traded up $0.96 during trading hours on Tuesday, reaching $233.43. 218,142 shares of the company traded hands, compared to its average volume of 2,185,646. Workday, Inc. has a 12-month low of $202.01 and a 12-month high of $311.28. The company has a debt-to-equity ratio of 0.37, a current ratio of 2.00 and a quick ratio of 2.00. The company has a market cap of $61.86 billion, a P/E ratio of 41.89, a P/E/G ratio of 5.79 and a beta of 1.35. The firm has a 50-day moving average price of $227.05 and a 200 day moving average price of $259.62.

Workday (NASDAQ:WDAY) last posted its quarterly earnings data on Thursday, May 23rd. The software maker reported $0.51 earnings per share for the quarter, beating analysts’ consensus estimates of $0.31 by $0.20. Workday had a return on equity of 5.78% and a net margin of 19.66%. The firm had revenue of $1.99 billion for the quarter, compared to analysts’ expectations of $1.97 billion. During the same period in the previous year, the firm earned $0.16 EPS. The business’s quarterly revenue was up 18.1% on a year-over-year basis. As a group, sell-side analysts predict that Workday, Inc. will post 2.12 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total transaction of $669,267.24. Following the sale, the insider now owns 204,066 shares of the company’s stock, valued at approximately $43,759,913.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Workday news, major shareholder David A. Duffield sold 82,762 shares of Workday stock in a transaction that occurred on Monday, June 3rd. The stock was sold at an average price of $210.28, for a total value of $17,403,193.36. Following the sale, the insider now owns 102,997 shares of the company’s stock, valued at approximately $21,658,209.16. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of Workday stock in a transaction that occurred on Tuesday, May 28th. The stock was sold at an average price of $214.44, for a total value of $669,267.24. Following the completion of the sale, the insider now directly owns 204,066 shares in the company, valued at approximately $43,759,913.04. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 468,672 shares of company stock valued at $103,096,914. 20.00% of the stock is owned by company insiders.

Analyst Ratings Changes

WDAY has been the subject of a number of research reports. The Goldman Sachs Group decreased their price objective on Workday from $310.00 to $300.00 and set a “buy” rating for the company in a report on Friday, May 24th. DA Davidson reduced their price target on Workday from $300.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Wells Fargo & Company reduced their price target on Workday from $325.00 to $275.00 and set an “overweight” rating for the company in a report on Friday, June 21st. UBS Group reduced their price target on Workday from $280.00 to $255.00 and set a “neutral” rating for the company in a report on Friday, May 24th. Finally, BMO Capital Markets reduced their price target on Workday from $338.00 to $300.00 and set an “outperform” rating for the company in a report on Friday, May 24th. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twenty-one have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $281.44.

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.