Envestnet Portfolio Solutions Inc. Has $3.12 Million Stock Holdings in Workday, Inc. (NASDAQ:WDAY)

Envestnet Portfolio Solutions Inc. trimmed its stake in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 24.8% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,341 shares of the software maker's stock after selling 4,409 shares during the quarter. Envestnet Portfolio Solutions Inc.'s holdings in Workday were worth $3,115,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Vanguard Group Inc. grew its holdings in Workday by 28.9% in the fourth quarter. Vanguard Group Inc. now owns 20,142,800 shares of the software maker's stock worth $5,197,447,000 after purchasing an additional 4,517,272 shares during the period. Geode Capital Management LLC increased its position in shares of Workday by 61.9% during the fourth quarter. Geode Capital Management LLC now owns 4,637,387 shares of the software maker's stock valued at $1,193,105,000 after acquiring an additional 1,772,223 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of Workday by 60.7% during the 4th quarter. The Manufacturers Life Insurance Company now owns 3,722,255 shares of the software maker's stock worth $960,454,000 after purchasing an additional 1,406,088 shares during the period. Brown Advisory Inc. raised its position in Workday by 1.5% in the fourth quarter. Brown Advisory Inc. now owns 3,530,701 shares of the software maker's stock worth $911,027,000 after acquiring an additional 52,104 shares during the period. Finally, FIL Ltd lifted its stake in Workday by 6.5% in the fourth quarter. FIL Ltd now owns 2,963,124 shares of the software maker's stock valued at $764,575,000 after purchasing an additional 181,899 shares during the last quarter. 89.81% of the stock is owned by institutional investors and hedge funds.

Workday Trading Up 0.6%

Shares of Workday stock opened at $238.19 on Monday. Workday, Inc. has a 12-month low of $199.81 and a 12-month high of $294.00. The stock has a market capitalization of $63.60 billion, a P/E ratio of 131.60, a price-to-earnings-growth ratio of 3.60 and a beta of 1.24. The company has a 50-day simple moving average of $247.01 and a 200 day simple moving average of $251.83. The company has a quick ratio of 2.07, a current ratio of 2.07 and a debt-to-equity ratio of 0.33.

Workday (NASDAQ:WDAY - Get Free Report) last released 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. The company had revenue of $2.24 billion during the quarter, compared to the consensus estimate of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm's quarterly revenue was up 12.6% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.74 earnings per share. Research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Insider Activity at Workday

In related news, Director George J. Still, Jr. sold 7,500 shares of the company's stock in a transaction dated Thursday, June 5th. The shares were sold at an average price of $248.41, for a total value of $1,863,075.00. Following the transaction, the director now directly owns 67,500 shares in the company, valued at approximately $16,767,675. This represents a 10.00% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CAO Mark S. Garfield sold 497 shares of the stock in a transaction dated Thursday, April 10th. The stock was sold at an average price of $226.55, for a total transaction of $112,595.35. Following the completion of the transaction, the chief accounting officer now directly owns 34,385 shares of the company's stock, valued at $7,789,921.75. This trade represents a 1.42% decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 181,762 shares of company stock valued at $41,995,382. 20.00% of the stock is owned by corporate insiders.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on WDAY shares. UBS Group raised their target price on shares of Workday from $255.00 to $285.00 and gave the company a "neutral" rating in a research note on Wednesday, February 26th. Canaccord Genuity Group lifted their target price on shares of Workday from $300.00 to $330.00 and gave the stock a "buy" rating in a research report on Wednesday, February 26th. BMO Capital Markets boosted their price target on shares of Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a research note on Thursday, February 27th. Mizuho reduced 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. Finally, Citigroup downgraded Workday from a "neutral" rating to a "mixed" rating in a report on Friday, May 16th. Nine investment analysts have rated the stock with a hold rating, eighteen have issued a buy rating and two have assigned a strong buy rating to the company. According to MarketBeat.com, the stock has an average rating of "Moderate Buy" and an average price target of $293.54.

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.

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