Alps Advisors Inc. Decreases Stake in Workday, Inc. (NASDAQ:WDAY)

Alps Advisors Inc. lessened its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 20.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 8,209 shares of the software maker's stock after selling 2,153 shares during the period. Alps Advisors Inc.'s holdings in Workday were worth $1,917,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of WDAY. Quotient Wealth Partners LLC increased its position in shares of Workday by 13.5% in the 1st quarter. Quotient Wealth Partners LLC now owns 1,116 shares of the software maker's stock valued at $261,000 after acquiring an additional 133 shares during the period. Nisa Investment Advisors LLC increased its holdings in shares of Workday by 33.8% in the first quarter. Nisa Investment Advisors LLC now owns 32,055 shares of the software maker's stock valued at $7,486,000 after purchasing an additional 8,093 shares during the period. LBP AM SA lifted its holdings in shares of Workday by 1.2% during the first quarter. LBP AM SA now owns 41,070 shares of the software maker's stock worth $9,591,000 after purchasing an additional 487 shares during the period. Cornerstone Planning Group LLC boosted its position in Workday by 76.1% in the first quarter. Cornerstone Planning Group LLC now owns 125 shares of the software maker's stock valued at $28,000 after buying an additional 54 shares during the last quarter. Finally, Linden Thomas Advisory Services LLC increased its holdings in Workday by 5.8% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 8,602 shares of the software maker's stock worth $2,009,000 after buying an additional 475 shares during the period. Institutional investors and hedge funds own 89.81% of the company's stock.

Workday Price Performance

Shares of Workday stock opened at $223.37 on Friday. The stock has a market capitalization of $59.64 billion, a P/E ratio of 123.41, a PEG ratio of 3.37 and a beta of 1.21. The business has a 50 day simple moving average of $248.29 and a two-hundred day simple moving average of $248.37. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a debt-to-equity ratio of 0.33, a current ratio of 2.07 and a quick ratio of 2.07.

Workday (NASDAQ:WDAY - Get Free Report) last posted its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 EPS for the quarter, beating the consensus estimate of $2.01 by $0.22. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. During the same period in the prior year, the company earned $1.74 EPS. The firm's revenue was up 12.6% compared to the same quarter last year. As a group, analysts predict that Workday, Inc. will post 2.63 EPS for the current fiscal year.

Analysts Set New Price Targets

WDAY has been the subject of several research reports. Jefferies Financial Group decreased their price objective on shares of Workday from $350.00 to $325.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Wells Fargo & Company decreased their target price on shares of Workday from $360.00 to $325.00 and set an "overweight" rating for the company in a research report on Tuesday, April 22nd. Westpark Capital upped their price target on shares of Workday from $315.00 to $328.00 and gave the company a "buy" rating in a report on Friday, May 23rd. KeyCorp reduced their price objective on Workday from $335.00 to $325.00 and set an "overweight" rating for the company in a research note on Friday, May 23rd. Finally, Mizuho lowered their target price on Workday from $320.00 to $275.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have issued a buy rating and two have assigned a strong buy rating to the company's stock. According to MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $296.88.

Insider Buying and Selling at Workday

In related news, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction dated Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total transaction of $1,496,437.50. Following the completion of the sale, the chief executive officer owned 1,472 shares of the company's stock, valued at approximately $352,440.96. This represents a 80.94% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director George J. Still, Jr. sold 7,500 shares of the firm's stock in a transaction that occurred on Thursday, June 5th. The stock was sold at an average price of $248.41, for a total transaction of $1,863,075.00. Following the completion of the transaction, the director directly owned 67,500 shares in the company, valued at $16,767,675. This trade represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 328,554 shares of company stock valued at $79,097,601 over the last ninety days. 19.31% of the stock is currently owned by corporate insiders.

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.

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