Dark Forest Capital Management LP Sells 60,100 Shares of Workday, Inc. (NASDAQ:WDAY)

Dark Forest Capital Management LP lessened its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 95.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 3,180 shares of the software maker's stock after selling 60,100 shares during the period. Dark Forest Capital Management LP's holdings in Workday were worth $821,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Virtu Financial LLC bought a new position in Workday during the third quarter valued at about $2,289,000. Anchor Investment Management LLC grew its holdings in shares of Workday by 6.1% during the 3rd quarter. Anchor Investment Management LLC now owns 6,352 shares of the software maker's stock worth $1,552,000 after purchasing an additional 368 shares in the last quarter. Wilmington Savings Fund Society FSB acquired a new position in shares of Workday in the third quarter valued at $4,893,000. Tidal Investments LLC lifted its position in Workday by 43.8% in the third quarter. Tidal Investments LLC now owns 13,546 shares of the software maker's stock worth $3,311,000 after purchasing an additional 4,128 shares during the period. Finally, Synovus Financial Corp boosted its stake in Workday by 5.7% during the third quarter. Synovus Financial Corp now owns 19,590 shares of the software maker's stock worth $4,788,000 after buying an additional 1,051 shares in the last quarter. Institutional investors own 89.81% of the company's stock.

Insider Buying and Selling

In other news, 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 completion of the transaction, the chief accounting officer now owns 34,385 shares in the company, valued at $7,789,921.75. This represents a 1.42 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder David A. Duffield sold 81,275 shares of the firm's stock in a transaction 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 owns 102,997 shares in the company, valued at approximately $22,111,395.96. The trade was a 44.11 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 321,724 shares of company stock valued at $77,976,126. 20.00% of the stock is owned by corporate insiders.

Wall Street Analysts Forecast Growth

WDAY has been the subject of several recent research reports. Daiwa America raised shares of Workday to a "strong-buy" rating in a research report on Tuesday, March 4th. UBS Group increased their target price on Workday from $255.00 to $285.00 and gave the stock a "neutral" rating in a report on Wednesday, February 26th. BMO Capital Markets boosted their price target on Workday from $300.00 to $314.00 and gave the company an "outperform" rating in a research note on Thursday, February 27th. Guggenheim reiterated a "neutral" rating on shares of Workday in a research note on Wednesday, February 26th. Finally, Scotiabank cut their price objective on Workday from $355.00 to $305.00 and set a "sector outperform" rating for the company in a report on Monday, March 17th. Ten analysts have rated the stock with a hold rating, twenty have assigned a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target of $292.86.

Workday Trading Down 0.5 %

Shares of NASDAQ WDAY traded down $1.10 during midday trading on Wednesday, reaching $242.29. 391,912 shares of the stock were exchanged, compared to its average volume of 2,608,605. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a market capitalization of $64.45 billion, a price-to-earnings ratio of 40.14, a P/E/G ratio of 3.55 and a beta of 1.32. The company has a debt-to-equity ratio of 0.35, a current ratio of 2.05 and a quick ratio of 2.05. The business has a 50-day simple moving average of $239.94 and a two-hundred day simple moving average of $251.83.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results 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 business had revenue of $2.21 billion for the quarter, compared to the consensus estimate of $2.18 billion. As a group, equities research analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Workday 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.