Evolutionary Tree Capital Management LLC Sells 3,068 Shares of Workday, Inc. (NASDAQ:WDAY)

Key Points

• Evolutionary Tree Capital Management LLC reduced its stake in Workday, Inc. by 28.9%, selling 3,068 shares and maintaining 7,558 shares in its portfolio, which now represents about 2.1% of their total holdings.
• Workday saw significant activity from institutional investors, with 89.81% of the stock owned by such entities, including major acquisitions by T. Rowe Price and The Manufacturers Life Insurance Company.
• Following recent stock transactions by insiders, a significant amount of shares have been sold, amounting to 329,005 shares worth over $79 million in the last 90 days.

Evolutionary Tree Capital Management LLC trimmed its holdings in shares of Workday, Inc. (NASDAQ:WDAY - Free Report) by 28.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,558 shares of the software maker's stock after selling 3,068 shares during the period. Workday comprises about 2.1% of Evolutionary Tree Capital Management LLC's portfolio, making the stock its 23rd largest position. Evolutionary Tree Capital Management LLC's holdings in Workday were worth $1,765,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in WDAY. T. Rowe Price Investment Management Inc. bought a new position in Workday during the 4th quarter worth about $658,735,000. The Manufacturers Life Insurance Company grew its holdings in 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 acquiring an additional 1,406,088 shares in the last quarter. Invesco Ltd. grew its holdings in Workday by 102.6% during the 4th quarter. Invesco Ltd. now owns 1,855,778 shares of the software maker's stock worth $478,846,000 after acquiring an additional 939,955 shares in the last quarter. Northern Trust Corp grew its holdings in Workday by 51.2% during the 4th quarter. Northern Trust Corp now owns 2,263,981 shares of the software maker's stock worth $584,175,000 after acquiring an additional 767,034 shares in the last quarter. Finally, Contour Asset Management LLC bought a new position in Workday during the 4th quarter worth about $183,516,000. 89.81% of the stock is currently owned by institutional investors.

Insider Buying and Selling at Workday

In other news, CAO Mark S. Garfield sold 451 shares of Workday stock in a transaction on Thursday, July 10th. The stock was sold at an average price of $234.86, for a total transaction of $105,921.86. Following the transaction, the chief accounting officer owned 42,977 shares in the company, valued at $10,093,578.22. The trade was a 1.04% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Zane Rowe sold 6,000 shares of Workday stock in a transaction on Tuesday, July 8th. The stock was sold at an average price of $239.59, for a total value of $1,437,540.00. Following the transaction, the chief financial officer owned 178,418 shares in the company, valued at approximately $42,747,168.62. This represents a 3.25% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 329,005 shares of company stock worth $79,203,523. Corporate insiders own 20.00% of the company's stock.

Workday Trading Down 3.1%

Shares of WDAY stock opened at $222.22 on Monday. The stock's fifty day moving average is $239.40 and its two-hundred day moving average is $246.10. 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 firm has a market capitalization of $59.33 billion, a P/E ratio of 122.77, a PEG ratio of 3.36 and a beta of 1.24. Workday, Inc. has a fifty-two week low of $199.81 and a fifty-two week high of $294.00.

Workday (NASDAQ:WDAY - Get Free Report) last announced its quarterly earnings data on Thursday, May 22nd. The software maker reported $2.23 earnings per share 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 analyst estimates of $2.22 billion. Workday had a return on equity of 8.00% and a net margin of 5.60%. The firm's revenue for the quarter was up 12.6% on a year-over-year basis. During the same quarter last year, the firm posted $1.74 EPS. Research analysts expect that Workday, Inc. will post 2.63 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research firms have commented on WDAY. Guggenheim reissued a "neutral" rating on shares of Workday in a research report on Friday, May 23rd. Westpark Capital increased their price objective on shares of Workday from $315.00 to $328.00 and gave the company a "buy" rating in a research report on Friday, May 23rd. Royal Bank Of Canada reaffirmed an "outperform" rating and issued a $340.00 price objective on shares of Workday in a research report on Friday, May 23rd. Citigroup lowered shares of Workday from a "neutral" rating to a "mixed" rating in a research report on Friday, May 16th. Finally, Oppenheimer decreased 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. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating, nineteen have given a buy rating and two have issued a strong buy rating to the company. Based on data from MarketBeat, Workday currently has an average rating of "Moderate Buy" and a consensus target price of $296.88.

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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