Advent International L.P. Decreases Position in Workday, Inc. (NASDAQ:WDAY)

Advent International L.P. lessened its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 76.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,750 shares of the software maker's stock after selling 18,750 shares during the period. Workday comprises about 0.0% of Advent International L.P.'s portfolio, making the stock its 22nd largest holding. Advent International L.P.'s holdings in Workday were worth $1,484,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of WDAY. Meiji Yasuda Life Insurance Co raised its stake in Workday by 13.1% in the fourth quarter. Meiji Yasuda Life Insurance Co now owns 1,123 shares of the software maker's stock valued at $290,000 after buying an additional 130 shares during the period. Third Point LLC bought a new stake in Workday in the 4th quarter valued at $129,015,000. Caisse DE Depot ET Placement DU Quebec lifted its holdings in Workday by 35.9% during the 4th quarter. Caisse DE Depot ET Placement DU Quebec now owns 472,366 shares of the software maker's stock valued at $121,885,000 after purchasing an additional 124,741 shares during the last quarter. Freestone Grove Partners LP bought a new position in Workday during the fourth quarter worth $52,826,000. Finally, Comerica Bank increased its holdings in shares of Workday by 53.7% in the fourth quarter. Comerica Bank now owns 61,864 shares of the software maker's stock valued at $15,963,000 after purchasing an additional 21,621 shares during the last quarter. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on WDAY shares. Piper Sandler decreased their price target on shares of Workday from $290.00 to $230.00 and set a "neutral" rating on the stock in a research note on Wednesday, April 23rd. Morgan Stanley lowered their target price on Workday from $275.00 to $250.00 and set an "equal weight" rating on the stock in a research note on Wednesday, April 16th. Citigroup reduced their price target on Workday from $287.00 to $270.00 and set a "neutral" rating for the company in a research note on Thursday, January 16th. DA Davidson lowered their price objective on Workday from $270.00 to $230.00 and set a "neutral" rating on the stock in a research report on Monday, April 14th. Finally, StockNews.com cut shares of Workday from a "buy" rating to a "hold" rating in a research report on Monday, January 13th. Ten equities research analysts have rated the stock with a hold rating, twenty have given a buy rating and two have issued a strong buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $292.86.

Workday Stock Down 0.1 %

WDAY traded down $0.34 during midday trading on Monday, reaching $248.34. The company's stock had a trading volume of 807,956 shares, compared to its average volume of 2,587,560. The stock's 50-day moving average is $239.28 and its 200-day moving average is $251.98. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The firm has a market capitalization of $66.06 billion, a price-to-earnings ratio of 41.18, a PEG ratio of 3.55 and a beta of 1.30. The company has a current ratio of 2.05, a quick ratio of 2.05 and a debt-to-equity ratio of 0.35.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data 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 company had revenue of $2.21 billion for the quarter, compared to analysts' expectations of $2.18 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. As a group, research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Insider Activity at Workday

In other news, CAO Mark S. Garfield sold 497 shares of the business's stock in a transaction on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the sale, the chief accounting officer now owns 34,385 shares of the company's stock, valued at $7,789,921.75. The trade was a 1.42 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, major shareholder David A. Duffield sold 66,455 shares of the stock in a transaction on Monday, March 3rd. The stock was sold at an average price of $259.52, for a total transaction of $17,246,401.60. Following the completion of the sale, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $26,729,781.44. This trade represents a 39.22 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 321,724 shares of company stock worth $77,976,126 over the last quarter. Company insiders own 20.00% of the company's stock.

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.