Gotham Asset Management LLC Sells 16,549 Shares of Workday, Inc. (NASDAQ:WDAY)

Gotham Asset Management LLC lowered its stake in Workday, Inc. (NASDAQ:WDAY - Free Report) by 94.3% during the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 996 shares of the software maker's stock after selling 16,549 shares during the period. Gotham Asset Management LLC's holdings in Workday were worth $257,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hennion & Walsh Asset Management Inc. grew its stake in shares of Workday by 19.3% in the fourth quarter. Hennion & Walsh Asset Management Inc. now owns 1,764 shares of the software maker's stock worth $455,000 after acquiring an additional 285 shares during the last quarter. Merit Financial Group LLC purchased a new position in shares of Workday in the 4th quarter worth about $578,000. Arkadios Wealth Advisors boosted its stake in Workday by 11.3% in the 4th quarter. Arkadios Wealth Advisors now owns 3,525 shares of the software maker's stock worth $910,000 after purchasing an additional 357 shares in the last quarter. UMB Bank n.a. grew its position in Workday by 10.9% during the 4th quarter. UMB Bank n.a. now owns 1,060 shares of the software maker's stock valued at $274,000 after purchasing an additional 104 shares during the last quarter. Finally, MassMutual Private Wealth & Trust FSB increased its stake in Workday by 65.5% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 273 shares of the software maker's stock valued at $70,000 after purchasing an additional 108 shares in the last quarter. Hedge funds and other institutional investors own 89.81% of the company's stock.

Insider Activity

In other news, major shareholder David A. Duffield sold 81,275 shares of the stock in a transaction that occurred on Tuesday, April 8th. The stock was sold at an average price of $214.68, for a total transaction of $17,448,117.00. Following the completion of the transaction, the insider now directly owns 102,997 shares in the company, valued at approximately $22,111,395.96. This represents a 44.11% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Mark S. Garfield sold 497 shares of the firm's stock in a transaction on Thursday, April 10th. The shares were 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 approximately $7,789,921.75. This trade represents a 1.42% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 321,724 shares of company stock worth $77,976,126 over the last 90 days. Corporate insiders own 19.31% of the company's stock.

Analyst Ratings Changes

Several research analysts have recently issued reports on the stock. Loop Capital dropped their target price on shares of Workday from $285.00 to $250.00 and set a "hold" rating on the stock in a research note on Friday. BMO Capital Markets boosted their price objective on shares of Workday from $300.00 to $314.00 and gave the stock an "outperform" rating in a report on Thursday, February 27th. Jefferies Financial Group lowered their price objective on Workday from $350.00 to $325.00 and set a "buy" rating on the stock in a research report on Monday, March 31st. JMP Securities reissued a "market outperform" rating and issued a $315.00 target price on shares of Workday in a report on Friday. Finally, BNP Paribas upgraded Workday to a "strong-buy" rating in a research note on Friday, February 14th. Nine investment analysts have rated the stock with a hold rating, eighteen have given a buy rating and two have issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $293.54.

Workday Price Performance

WDAY stock traded down $34.06 during midday trading on Monday, hitting $238.01. The company's stock had a trading volume of 9,908,921 shares, compared to its average volume of 2,543,100. The company has a quick ratio of 2.05, a current ratio of 2.05 and a debt-to-equity ratio of 0.35. Workday, Inc. has a 12 month low of $199.81 and a 12 month high of $294.00. The company has a 50 day moving average of $242.28 and a two-hundred day moving average of $254.06. The firm has a market capitalization of $63.31 billion, a price-to-earnings ratio of 39.47, a price-to-earnings-growth ratio of 3.55 and a beta of 1.30.

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, beating the consensus estimate of $2.01 by $0.22. The company had revenue of $2.24 billion during the quarter, compared to analysts' expectations of $2.22 billion. Workday had a net margin of 19.86% and a return on equity of 6.13%. Workday's quarterly revenue was up 12.6% on a year-over-year basis. During the same period last year, the company posted $1.74 earnings per share. On average, analysts expect that Workday, Inc. will post 2.63 EPS for the current year.

Workday Company 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.