Workday, Inc. (NASDAQ:WDAY) Position Decreased by Envestnet Asset Management Inc.

Envestnet Asset Management Inc. trimmed its position in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 2.4% in the 1st quarter, according to the company in its most recent Form 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 period. Envestnet Asset Management Inc. owned about 0.27% of Workday worth $169,740,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Argentarii LLC acquired a new position in Workday during the first quarter worth $463,000. Concurrent Investment Advisors LLC raised its position in Workday by 23.6% in the 1st quarter. Concurrent Investment Advisors LLC now owns 2,666 shares of the software maker's stock valued at $623,000 after buying an additional 509 shares during the last quarter. World Investment Advisors grew its stake in Workday by 7.8% in the first quarter. World Investment Advisors now owns 2,066 shares of the software maker's stock valued at $482,000 after purchasing an additional 149 shares in the last quarter. Wayfinding Financial LLC bought a new position in shares of Workday during the 1st quarter worth approximately $51,000. Finally, Impax Asset Management Group plc boosted its stake in shares of Workday by 3.6% during the 1st quarter. Impax Asset Management Group plc now owns 3,171 shares of the software maker's stock worth $741,000 after acquiring an additional 109 shares during the period. 89.81% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $340.00 price objective on shares of Workday in a report on Friday, May 23rd. JPMorgan Chase & Co. reduced their price target on Workday from $310.00 to $295.00 and set an "overweight" rating on the stock in a research report on Friday, May 23rd. DA Davidson upped their target price on Workday from $230.00 to $250.00 and gave the company a "neutral" rating in a research report on Friday, May 23rd. Guggenheim restated a "neutral" rating on shares of Workday in a research report on Friday, May 23rd. Finally, JMP Securities reaffirmed a "market outperform" rating and set a $315.00 price target on shares of Workday in a research note on Friday, May 23rd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating, eighteen have issued a buy rating and two have given a strong buy rating to the company's stock. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and an average target price of $296.88.

Insider Buying and Selling at Workday

In other Workday news, CFO Zane Rowe sold 6,000 shares of the business's stock in a transaction that occurred on Tuesday, July 8th. The shares were sold at an average price of $239.59, for a total transaction of $1,437,540.00. Following the completion of the sale, the chief financial officer directly owned 178,418 shares in the company, valued at $42,747,168.62. The trade was a 3.25% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction on Thursday, June 5th. The shares were 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 directly owned 67,500 shares in the company, valued at $16,767,675. This represents a 10.00% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 256,003 shares of company stock worth $61,713,656. 19.31% of the stock is currently owned by insiders.

Workday Stock Down 4.4%

Workday stock traded down $10.61 during mid-day trading on Thursday, reaching $229.56. 1,705,459 shares of the company's stock were exchanged, compared to its average volume of 2,470,038. Workday, Inc. has a twelve month low of $199.81 and a twelve month high of $294.00. The company has a fifty day moving average of $249.15 and a 200-day moving average of $249.07. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33. The company has a market cap of $61.29 billion, a P/E ratio of 126.80, a P/E/G ratio of 3.63 and a beta of 1.21.

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