Bares Capital Management Inc. Sells 28,547 Shares of Workday, Inc. (NASDAQ:WDAY)

Bares Capital Management Inc. lowered its holdings in Workday, Inc. (NASDAQ:WDAY - Free Report) by 4.4% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 623,585 shares of the software maker's stock after selling 28,547 shares during the quarter. Workday accounts for 14.5% of Bares Capital Management Inc.'s holdings, making the stock its 4th largest holding. Bares Capital Management Inc. owned 0.23% of Workday worth $160,904,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of the business. Vanguard Group Inc. grew its stake in shares of Workday by 28.9% during the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares in the last quarter. Geode Capital Management LLC increased its holdings in shares of Workday by 61.9% in the 4th quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the last quarter. The Manufacturers Life Insurance Company raised its position in shares of Workday by 60.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock worth $960,454,000 after acquiring an additional 1,406,088 shares in the last quarter. FIL Ltd lifted its stake in Workday by 6.5% during the fourth quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock worth $764,575,000 after purchasing an additional 181,899 shares during the last quarter. Finally, Clearbridge Investments LLC boosted its holdings in Workday by 5.4% in the fourth quarter. Clearbridge Investments LLC now owns 2,663,398 shares of the software maker's stock valued at $687,237,000 after purchasing an additional 136,211 shares in the last quarter. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Trading Up 1.1 %

Workday stock traded up $2.73 during trading on Wednesday, hitting $250.52. The company's stock had a trading volume of 1,117,862 shares, compared to its average volume of 2,577,535. The stock's fifty day moving average is $238.57 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 stock has a market capitalization of $66.64 billion, a price-to-earnings ratio of 41.55, a P/E/G ratio of 3.55 and a beta of 1.30. The company has a debt-to-equity ratio of 0.35, a quick ratio of 2.05 and a current ratio of 2.05.

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 for the quarter, missing the consensus estimate 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. As a group, equities research analysts predict that Workday, Inc. will post 2.63 EPS for the current year.

Insider Buying and Selling at Workday

In other news, insider Sayan Chakraborty sold 6,056 shares of the business's stock in a transaction dated Thursday, February 27th. The stock was sold at an average price of $265.50, for a total transaction of $1,607,868.00. Following the completion of the sale, the insider now owns 111,324 shares in the company, valued at approximately $29,556,522. The trade was a 5.16 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the sale, the insider now directly owns 102,997 shares of the company's stock, valued at approximately $22,111,395.96. This trade represents a 44.11 % decrease in their position. 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 in the last quarter. 20.00% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Scotiabank cut their price objective on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a report on Monday, March 17th. Stifel Nicolaus boosted their price target on shares of Workday from $270.00 to $310.00 and gave the company a "hold" rating in a research report on Wednesday, February 26th. The Goldman Sachs Group upped their price objective on shares of Workday from $310.00 to $345.00 and gave the company a "buy" rating in a research note on Wednesday, February 26th. KeyCorp lifted their target price on Workday from $305.00 to $335.00 and gave the stock an "overweight" rating in a research report on Wednesday, February 26th. Finally, Westpark Capital started coverage on Workday in a research report on Tuesday. They issued a "buy" rating and a $315.00 target price for the company. Ten investment analysts have rated the stock with a hold rating, twenty-one have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus target price of $293.62.

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.