Alyeska Investment Group L.P. Sells 717,736 Shares of Workday, Inc. (NASDAQ:WDAY)

Alyeska Investment Group L.P. decreased its position in Workday, Inc. (NASDAQ:WDAY - Free Report) by 86.6% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 111,133 shares of the software maker's stock after selling 717,736 shares during the period. Alyeska Investment Group L.P.'s holdings in Workday were worth $28,676,000 at the end of the most recent reporting period.

Other institutional investors also recently bought and sold shares of the company. Aptus Capital Advisors LLC bought a new stake in shares of Workday in the 4th quarter worth $235,000. Advanced Portfolio Management LLC purchased a new position in Workday in the 4th quarter worth about $770,000. Alight Capital Management LP bought a new position in Workday during the 4th quarter valued at about $3,999,000. Meiji Yasuda Life Insurance Co boosted its holdings in shares of Workday by 13.1% during the 4th quarter. Meiji Yasuda Life Insurance Co now owns 1,123 shares of the software maker's stock valued at $290,000 after acquiring an additional 130 shares during the last quarter. Finally, Third Point LLC purchased a new stake in shares of Workday during the 4th quarter valued at about $129,015,000. 89.81% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on WDAY shares. Westpark Capital assumed coverage on shares of Workday in a research report on Tuesday. They set a "buy" rating and a $315.00 price objective on the stock. Stifel Nicolaus increased their price target on Workday from $270.00 to $310.00 and gave the company a "hold" rating in a report on Wednesday, February 26th. Royal Bank of Canada lifted their price objective on Workday from $320.00 to $340.00 and gave the stock an "outperform" rating in a report on Wednesday, February 26th. Mizuho lowered their target price on Workday from $320.00 to $275.00 and set an "outperform" rating on the stock in a report on Tuesday, April 15th. Finally, DA Davidson cut their price target on Workday from $270.00 to $230.00 and set a "neutral" rating for the company in a research note on Monday, April 14th. Ten equities research analysts have rated the stock with a hold rating, twenty-one have issued a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Workday presently has a consensus rating of "Moderate Buy" and an average target price of $293.62.

Insider Activity

In other Workday news, insider Sayan Chakraborty sold 6,056 shares of the firm's stock in a transaction dated Thursday, February 27th. The shares were sold at an average price of $265.50, for a total value of $1,607,868.00. Following the completion of the sale, the insider now owns 111,324 shares of the company's stock, valued at $29,556,522. This trade represents a 5.16 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CAO Mark S. Garfield sold 497 shares of the company's stock in a transaction that occurred on Thursday, April 10th. The shares were sold at an average price of $226.55, for a total value of $112,595.35. Following the transaction, the chief accounting officer now directly owns 34,385 shares in the company, valued at approximately $7,789,921.75. This represents a 1.42 % decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 321,724 shares of company stock valued at $77,976,126. 19.31% of the stock is currently owned by company insiders.

Workday Price Performance

Shares of WDAY traded up $2.73 during midday trading on Wednesday, hitting $250.52. 1,117,862 shares of the company traded hands, compared to its average volume of 2,577,535. Workday, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05. The firm has a 50 day moving average of $238.31 and a 200-day moving average of $251.97. The stock has a market cap of $66.64 billion, a price-to-earnings ratio of 41.55, a PEG ratio of 3.55 and a beta of 1.30.

Workday (NASDAQ:WDAY - Get Free Report) last announced its earnings results on Tuesday, February 25th. The software maker reported $0.48 EPS 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 during the quarter, compared to analysts' expectations of $2.18 billion. On average, analysts forecast that Workday, Inc. will post 2.63 EPS for the current fiscal year.

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.