Bamco Inc. NY Cuts Stock Position in Workday, Inc. (NASDAQ:WDAY)

Bamco Inc. NY lowered its holdings in Workday, Inc. (NASDAQ:WDAY) by 5.9% during the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 92,925 shares of the software maker’s stock after selling 5,843 shares during the period. Bamco Inc. NY’s holdings in Workday were worth $25,345,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. ORG Partners LLC boosted its position in Workday by 1.2% in the fourth quarter. ORG Partners LLC now owns 2,856 shares of the software maker’s stock worth $788,000 after purchasing an additional 34 shares during the last quarter. VisionPoint Advisory Group LLC boosted its position in Workday by 27.6% in the fourth quarter. VisionPoint Advisory Group LLC now owns 157 shares of the software maker’s stock worth $43,000 after purchasing an additional 34 shares during the last quarter. Carolinas Wealth Consulting LLC raised its stake in shares of Workday by 9.7% in the fourth quarter. Carolinas Wealth Consulting LLC now owns 384 shares of the software maker’s stock valued at $106,000 after buying an additional 34 shares during the period. Washington Trust Advisors Inc. raised its stake in shares of Workday by 8.1% in the fourth quarter. Washington Trust Advisors Inc. now owns 481 shares of the software maker’s stock valued at $133,000 after buying an additional 36 shares during the period. Finally, Meitav Investment House Ltd. raised its stake in shares of Workday by 2.6% in the fourth quarter. Meitav Investment House Ltd. now owns 1,401 shares of the software maker’s stock valued at $387,000 after buying an additional 36 shares during the period. Hedge funds and other institutional investors own 89.81% of the company’s stock.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the transaction, the insider now directly owns 562,000 shares in the company, valued at approximately $128,877,840. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. In related news, major shareholder David A. Duffield sold 56,000 shares of the firm’s stock in a transaction that occurred on Friday, July 12th. The stock was sold at an average price of $229.32, for a total transaction of $12,841,920.00. Following the transaction, the insider now directly owns 562,000 shares in the company, valued at approximately $128,877,840. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, insider Douglas A. Robinson sold 3,121 shares of the firm’s 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 transaction, the insider now owns 204,066 shares in the company, valued at $43,759,913.04. The disclosure for this sale can be found here. Insiders have sold a total of 524,672 shares of company stock worth $115,938,834 in the last ninety days. 20.00% of the stock is owned by insiders.

Workday Price Performance

Shares of Workday stock traded up $1.56 during trading on Friday, hitting $228.64. 1,003,283 shares of the stock traded hands, compared to its average volume of 1,840,302. The company has a quick ratio of 2.00, a current ratio of 2.00 and a debt-to-equity ratio of 0.37. The stock has a market cap of $60.59 billion, a price-to-earnings ratio of 41.20, a PEG ratio of 5.76 and a beta of 1.35. The firm’s fifty day moving average is $223.16 and its 200-day moving average is $256.87. Workday, Inc. has a 52 week low of $202.01 and a 52 week high of $311.28.

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

Wall Street Analysts Forecast Growth

WDAY has been the topic of several research reports. Sanford C. Bernstein lowered their target price on Workday from $321.00 to $301.00 and set an “outperform” rating on the stock in a research note on Friday, May 24th. Canaccord Genuity Group lowered their target price on Workday from $305.00 to $270.00 and set a “buy” rating on the stock in a research note on Friday, May 24th. Needham & Company LLC restated a “buy” rating and issued a $350.00 target price on shares of Workday in a research note on Friday, May 24th. StockNews.com lowered Workday from a “strong-buy” rating to a “buy” rating in a research note on Monday, April 8th. Finally, KeyCorp decreased their price objective on Workday from $330.00 to $275.00 and set an “overweight” rating on the stock in a research note on Friday, May 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and twenty-one have given a buy rating to the company. According to MarketBeat, Workday presently has an average rating of “Moderate Buy” and a consensus target price of $281.44.

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.