Choreo LLC Sells 1,860 Shares of Workday, Inc. (NASDAQ:WDAY)

Choreo LLC reduced its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 15.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 10,576 shares of the software maker's stock after selling 1,860 shares during the quarter. Choreo LLC's holdings in Workday were worth $2,470,000 as of its most recent SEC filing.

A number of other hedge funds have also bought and sold shares of the business. Janney Montgomery Scott LLC increased its position in Workday by 5.0% in the first quarter. Janney Montgomery Scott LLC now owns 22,645 shares of the software maker's stock worth $5,288,000 after buying an additional 1,070 shares during the last quarter. Kingswood Wealth Advisors LLC increased its position in Workday by 13.9% in the first quarter. Kingswood Wealth Advisors LLC now owns 1,136 shares of the software maker's stock worth $265,000 after buying an additional 139 shares during the last quarter. Sowell Financial Services LLC purchased a new position in shares of Workday in the first quarter valued at $290,000. D.A. Davidson & CO. grew its position in shares of Workday by 27.8% in the first quarter. D.A. Davidson & CO. now owns 1,601 shares of the software maker's stock valued at $374,000 after purchasing an additional 348 shares in the last quarter. Finally, Golden State Wealth Management LLC grew its position in shares of Workday by 9,166.7% in the first quarter. Golden State Wealth Management LLC now owns 278 shares of the software maker's stock valued at $65,000 after purchasing an additional 275 shares in the last quarter. 89.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder David A. Duffield sold 72,551 shares of the company's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $239.61, for a total value of $17,383,945.11. Following the sale, the insider owned 102,997 shares in the company, valued at $24,679,111.17. This represents a 41.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO Carl M. Eschenbach sold 6,250 shares of the company's stock in a transaction that occurred on Tuesday, July 1st. The shares were sold at an average price of $239.43, for a total value of $1,496,437.50. Following the completion of the transaction, the chief executive officer directly owned 1,472 shares in the company, valued at $352,440.96. This trade represents a 80.94% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 329,005 shares of company stock worth $79,203,523 over the last three months. Corporate insiders own 19.31% of the company's stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the company. Royal Bank Of Canada reiterated an "outperform" rating and issued a $340.00 price target on shares of Workday in a research report on Friday, May 23rd. Morgan Stanley set a $255.00 price target on Workday and gave the company an "equal weight" rating in a research report on Friday, May 23rd. Stifel Nicolaus reduced their price target on Workday from $310.00 to $275.00 and set a "hold" rating for the company in a research report on Friday, May 23rd. JPMorgan Chase & Co. reduced their target price on Workday from $310.00 to $295.00 and set an "overweight" rating for the company in a research report on Friday, May 23rd. Finally, Loop Capital reduced their target price on Workday from $285.00 to $250.00 and set a "hold" rating for the company in a research report on Friday, May 23rd. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average price target of $296.88.

Workday Trading Up 1.9%

WDAY traded up $4.54 during midday trading on Friday, reaching $241.74. 1,840,561 shares of the company's stock traded hands, compared to its average volume of 2,268,603. The firm has a fifty day moving average of $243.20 and a two-hundred day moving average of $246.78. The stock has a market capitalization of $64.54 billion, a price-to-earnings ratio of 133.56, a P/E/G ratio of 3.64 and a beta of 1.21. 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, Inc. has a 52 week low of $199.81 and a 52 week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last posted its earnings results on Thursday, May 22nd. The software maker reported $2.23 earnings per share for the quarter, topping analysts' consensus estimates 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 for the quarter, compared to the consensus estimate of $2.22 billion. During the same quarter in the prior year, the business earned $1.74 EPS. The business's revenue for the quarter was up 12.6% on a year-over-year basis. On average, equities analysts anticipate that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

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.