Workday, Inc. (NASDAQ:WDAY) Shares Sold by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. cut its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 726,845 shares of the software maker's stock after selling 17,813 shares during the quarter. Envestnet Asset Management Inc. owned approximately 0.27% of Workday worth $169,740,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the company. Farmers & Merchants Investments Inc. acquired a new stake in shares of Workday in the first quarter worth approximately $32,000. TCTC Holdings LLC purchased a new stake in shares of Workday during the fourth quarter worth $35,000. Financial Management Professionals Inc. raised its position in shares of Workday by 54.0% in the first quarter. Financial Management Professionals Inc. now owns 154 shares of the software maker's stock valued at $36,000 after buying an additional 54 shares during the last quarter. Rakuten Securities Inc. lifted its stake in shares of Workday by 78.6% in the fourth quarter. Rakuten Securities Inc. now owns 150 shares of the software maker's stock worth $39,000 after buying an additional 66 shares in the last quarter. Finally, Pinnacle Bancorp Inc. acquired a new position in Workday during the first quarter worth about $40,000. 89.81% of the stock is currently owned by institutional investors and hedge funds.

Workday Stock Down 0.1%

Shares of WDAY traded down $0.30 during midday trading on Wednesday, hitting $240.17. The company had a trading volume of 1,683,859 shares, compared to its average volume of 2,470,514. Workday, Inc. has a 1 year low of $199.81 and a 1 year high of $294.00. The firm has a market capitalization of $64.13 billion, a P/E ratio of 132.69, 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 quick ratio of 2.07 and a current ratio of 2.07. The company's 50-day simple moving average is $249.24 and its 200-day simple moving average is $249.14.

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

Insider Buying and Selling

In related news, Director George J. Still, Jr. sold 7,500 shares of the business'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 sale, the director owned 67,500 shares in the company, valued at $16,767,675. The trade was a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Zane Rowe sold 6,000 shares of the firm's stock in a transaction that occurred on Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the sale, the chief financial officer directly owned 178,418 shares in the company, valued at approximately $42,747,168.62. The trade was a 3.25% decrease in their position. The disclosure for this sale can be found here. Insiders sold 256,500 shares of company stock valued at $61,826,251 over the last 90 days. 19.31% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

WDAY has been the topic of a number of research reports. Scotiabank decreased their target price on shares of Workday from $355.00 to $305.00 and set a "sector outperform" rating on the stock in a research note on Monday, March 17th. Mizuho lowered their price objective on Workday from $320.00 to $275.00 and set an "outperform" rating on the stock in a research note on Tuesday, April 15th. Jefferies Financial Group cut their target price on Workday from $350.00 to $325.00 and set a "buy" rating for the company in a research note on Monday, March 31st. Oppenheimer cut their price objective on shares of Workday from $320.00 to $300.00 and set an "outperform" rating for the company in a research report on Friday, May 23rd. Finally, Needham & Company LLC reiterated a "buy" rating and issued a $300.00 target price on shares of Workday in a report on Wednesday, May 21st. Nine equities research analysts have rated the stock with a hold rating, eighteen have assigned a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $297.68.

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.